Newcastle-upon-Tyne, NE1 1UD | Investment Property for Sale | VES-NE1-007

Opportunity to purchase an apartment in Newcastle generating £17,004 rent pa & gross yield of 12.1%

£140,000

Apartment

VES-NE1-007

INITIAL INVESTMENT

£41,700

Based on

deposit: £35,000

stamp duty: £4,200

mortgage fees: £1,500

conveyancing fees: £1,000

GROSS RENT

£17,004

GROSS YIELD

12.1%

ADD TO FAVOURITES

The property

TENANCY

Tenanted

TENURE

Leasehold

GROUND RENT

£50

SERVICE CHARGE

£2,417

2 bedrooms

2 bathrooms

1 reception room

750

Fully Furnished

Leasehold information

  • Length of lease: 125 years
  • Year lease started: 2001

Property information

  • Located on the third floor
  • Lounge is currently used as a third bedroom
  • Main bedroom comes with ensuite shower room
  • All other tenants share the main bathroom
  • Balcony, accessible from the main bedroom and the lounge
  • The flat was redecorated (painting of walls & new flooring) within the last 5 years
  • EPC rating B

Rental income

  • The rent is inclusive of all bills
  • Room 1 - £390 pcm - periodic tenancy
  • Room 2 - £500 pcm - let 17/10/20 - 16/04/21
  • Room 3 - £527 pcm - vacant, new tenant is currently undergoing referencing
  • Total rental income pcm: £1,417
  • Total rental income pa: £17,004

Location information

  • The apartment is ideally located in the centre of Newcastle with many amenities on the doorstep
  • Newcastle railway station is around a 5-minute walk away

Note

Please note that Vesta has not visited this property and that all material has been provided by the vendor.

Floorplans

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

The information relating to this property is supplied by the vendor and was the latest available information at the time of listing. Certain information may expire or become inaccurate over time.

Vesta makes no warranty as to the accuracy or completeness of the property listing or any associated information. All information should be reviewed by the purchaser and their solicitor.

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+.

Parrish View, Pudding Chare,

Newcastle upon Tyne,

Tyne and Wear,

England,

NE1 1UD

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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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