Summary - 9a Market Place DL14 7NJ
3 bed 1 bath Apartment
Income-producing Victorian flat with parking and central location ideal for investors.
Ground-floor three-bedroom apartment, 771 sq ft
Tenant in situ paying £675 pcm — immediate income
Grade II listed — restrictions and potential maintenance costs
Leasehold with ~90 years remaining
Service charge approx £1,100 per year
Electric room heaters and secondary glazing only
Allocated off-street parking at rear
Very high local crime rate; area classified as deprived
A ground-floor three-bedroom flat sold with a tenant in situ offers immediate rental income and straightforward hands-off ownership. The property sits within a Grade II listed Victorian building on Bishop Auckland’s Market Place and includes allocated off-street parking to the rear. At 771 sq ft the apartment is compact but provides a lounge/kitchen, three bedrooms and a shower room.
This is primarily an investor opportunity: the current tenant pays £675 pcm, producing a predictable income stream. The lease has around 90 years remaining and the property is leasehold with an average service charge of approximately £1,100 per year. Council Tax is low (Band B), which helps tenant affordability.
Buyers should note material constraints: listed status may restrict alterations and can complicate maintenance or refurbishment. Heating is by electric room heaters, glazing is secondary only, and broadband speeds are reported slow — factors that may affect long-term tenant demand and running costs. The wider area is classified as deprived with a very high local crime rate, which is likely to influence rental market and management needs.
Practical positives include allocated parking, an on-street high-street location with nearby amenities and schools, and excellent mobile signal. For an investor focused on yield and central location, this flat offers immediate return and modest management requirements; buyers planning upgrades should budget for listed-building consent and potential higher maintenance costs.
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