Mill cottages offer fantastic opportunity
3:58pm Friday 15th February 2013
A STREET of six 19th century cottages originally built as homes for bobbin mill workers is being offered for sale as an investment opportunity.
Numbers 1-6 South View, Newton le Willows, all have a lovely south-facing aspect over open countryside and are tenanted on assured shorthold tenancies (until August), with one let on a protected tenancy.
The properties are all in very sound condition, having been well maintained by the previous landlords. All have two bedrooms and benefit from mains water, drains, electricity and wood-burning stoves or open fires.
The cottages are in a varying degree of internal decoration, some being more presentable than others, but any work needing done is largely cosmetic.
Each of the six properties benefits from its own individual garden area, parking spaces and a garden store/outbuilding.
Newton le Willows, close to Bedale, has a thriving village community and was voted Best Local Village in 2009, making the properties desirable in the rental market. The agents believe a fair open market rent for each cottage would be in excess of £500pcm.
The properties are, in the first instance, being offered as a single opportunity to an investment buyer who may wish to carry out minor renovation works on them or keep the sitting tenants in situ.
They can be improved significantly and represent an excellent growth opportunity in the medium-term. It is hoped that all six properties will be sold as a whole to one buyer looking for a good investment, but single properties may be available by negotiation.
The six properties are being offered for £850,000. For more information, contact Tim Brown or Hugh Mortimer at George F White’s Bedale office on 01677 425301.