Newcastle, NE1 2JR | Investment Property for Sale | VES-NE1-005

Two tenanted flats in Newcastle, producing £32,532 in rent per annum

£480,000

Two 4-bedroom flats

VES-NE1-005

INITIAL INVESTMENT

£216,300

GROSS RENT / YIELD

£32,532 / 6.8%

NET RENT / YIELD

£19,487 / 4.1%

ADD TO FAVOURITES

The portfolio

TENURE

Leasehold

NO OF UNITS

2

TENANCY STATUS

Tenanted

FURNISHED

Yes

TOTAL SQ FT

1,520

PRICE SQ FT

£316

GROUND RENT

£500

SERVICE CHARGE

£5,000

Block lisitng consiting of 2 apartments in the city centre of Newcastle

  • Length of Lease: Varies per property

Includes parking space

Documents available on request, please contact for viewings or further questions.

The information relating to the property is supplied by the vendor and the latest available at the date of listing.

Certain information may expire or become inaccurate over time and should be verified by the purchaser’s solicitor.

Financials

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Rental Income

GROSS RENT PER ANNUM

£32,532

Equivalent of £2,711 per calendar month (PCM).

GROSS RENTAL YIELD

6.8%

Gross rent per annum divided by the purchase price.

NET RENT PER ANNUM

£19,487

Gross rent per annum minus fully managed operating costs.

NET RENTAL YIELD

4.1%

Gross rent per annum minus fully managed operating costs divided by the purchase price.

FULLY MANAGED OPERATING COSTS

£13,045

The total estimated sum of expenses calculated annually assuming a fully managed service.

Click to understand assumptions.

Disclaimer

All financial information is provided as a guideline only, is based on estimates and assumptions and is subject to change. Buyers are advised to seek independent financial advice. Capital at risk.

About Newcastle, North East

Newcastle is a city in Tyne and Wear in the north east of England, it is situated 14.8 miles north of Durham, 103 miles south of Edinburgh and 277 miles north of London.

This area is serviced by Newcastle railway station which lies on the East Coast Main Line and is managed by London North Eastern Railway. London North Eastern operates high-speed inter-city services southbound to London, one of which is a semi-fast train making only 2 stops before arriving at London’s King Cross. There are 3 trains every 2 hours northbound to destinations in Scotland. Crosscountry provides additional services to Scotland to the north and at least 2 trains per hour to Birmingham southbound, from which trains continue to stops all over the south-west and south coast. TransPennine Express provides services to Manchester/Liverpool via Leeds with Newcastle acting as the terminus. Northern also runs several local commuter and regional services to locations in the northeast. Newcastle also benefits from the Tyne & Wear Metro which is an underground railway service connecting Tyne & Wear across two lines and transporting around 37 million passengers per year.

Newcastle is notorious for its buzzing nightlife and was voted in the top three of Tripadvisor Travellers’ Choice Destination Awards for European Nightlife destinations. The Bigg Market and Quayside are at the heart of the pubs, bars and nightclub district and a wide variety of restaurants offering cuisines from across the globe. Newcastle also has a rich history of culture through the arts such as theatre, music venues, museums and galleries. Newcastle city centre has several major shopping areas, the largest of these being the Eldon Square Shopping Centre which boasts over 150 stores and services.

There are many job opportunities in Newcastle city centre and the economy includes many corporate headquarters in fields such as learning, digital technology, retail and tourism. Big employers such as Greggs, Virgin Money, EE, Npower and many more all have their headquarters here.

Over 42,000 students that live in Newcastle, spread across the various campuses of University of Newcastle and Northumbria University. This location could also be perfect for a young family looking for local schooling options, with Christ Church CofE Primary in close proximity and offering education to the age of 11. For those that may be looking for further education Gateshead College provides courses, subjects and apprenticeships for those that are 16+.

Melbourne Street,

Newcastle upon Tyne,

Tyne and Wear,

England,

NE1 2JR

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Important Note

All information contained in this website is provided as a guideline only, is based on estimates and assumptions, may not be accurate or complete, and is subject to change. We make no representations or warranties with regards to this information, expressed or otherwise. A buyer who relies on such information does so at their own risk. Buyers are advised to seek independent financial advice and should undertake their own due diligence.

Your capital is at risk. Property values may decline and the property might not be able to be rented at amounts sufficient to cover debt interest costs, operating expenses and liabilities, and might not result in a positive cash flow. Property is an illiquid asset and should not be viewed as a short-term investment.

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