A cluster of empty incomplete homes at Evenwood Gate has been called a “government-backed buy-to-let investment” opportunity.
While work is underway to finish the ten houses, Durham County Council has confirmed it is in discussion with a property agent and a planning application is expected soon.
Ryan Hancock, chief executive of Apex Investments and Properties, wrote on a UK Property Investors social media network that anyone buying one of the three-bedroom homes is guaranteed a 25-year full repairing and insuring lease through Nurture Housing.
He added: “Rent paid regardless of occupancy. £33,072 per annum guaranteed income. Purchase price £275,000. Government-backed, FCA regulated supported housing structure.”
He said the opportunity was open to cash buyers only.
Nurture Housing is an association which works with local authorities to reduce housing waiting lists buy providing homes for vulnerable people in urgent need of safe accommodation.
The association’s website reads: “At Nurture Housing, we are committed to providing specialist supported social housing for people who need it most, right across the UK.
“We offer safe, modern homes alongside the care, guidance, and support that help individuals rebuild their lives with dignity and independence.”
Sarah Eldridge, area planning manager at Durham County Council, said: “We have received a revised planning application for this development, and, from our discussions with the agent, understand that the applicant is in the process of putting together the additional documentation needed to make it valid.
“Once these documents have been received, and the application has been validated, we will consult on the proposals as part of the planning process.”
Neither Nurture Housing nor Mr Hancock responded to requests for more information about their involvement in the homes.
