South Shields, NE33 3LP | Investment Property for Sale | VES-NE33-001

Opportunity of an apartment in South Shields which generates £4,740 rent pa & 8% gross rental yield

£59,000

Apartment

VES-NE33-001

INITIAL INVESTMENT

£19,020

Based on

deposit: £14,750

stamp duty: £1,770

mortgage fees: £1,500

conveyancing fees: £1,000

GROSS RENT

£4,740

GROSS YIELD

8.0%

ADD TO FAVOURITES

The property

TENANCY

Tenanted

TENURE

Leasehold

GROUND RENT

£15

2 bedrooms

1 bathroom

1 reception room

566

Partially Furnished

Leasehold information

  • Length of lease: 999 years
  • Year lease started: 1983

Property information

  • Located on the ground floor
  • Kitchen leads out to the courtyard
  • EPC rating D
  • Tenant is looking to stay longterm

Tenancy

RENT

£4,740 p.a. / £395 pcm

TENANCY DEPOSIT

£395

TENANCY TYPE

AST

TENANCY AGREEMENT STARTED

12 months ago

TENANCY AGREEMENT ENDS

Periodic

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 South Shields, South Tyneside

South Shields is a coastal town in the north east of England and lies about 4 miles east of Newcastle upon Tyne, which is accessible via the nearby A19 trunk road. The Tyne Tunnel at Jarrow is also nearby and there are several other connections to the Tyne & Wear areas, whilst the A194(M) motorway provides a link to the A1/A1(M).

South Shields is on the Tyne and Wear Metro light railway system which serves South Tyneside, Gateshead, Newcastle, North Tyneside, Sunderland and Newcastle Airport. South Shields Metro stations is located at the new integrated bus and Metro interchange on Keppel Street, across from the main shopping area. There is also a pedestrian only cross-river ferry service to North Shields on the opposite bank of the River Tyne.

The town is one of the region’s most popular seaside resorts, boasting a seafront with promenade, parks, arcades, crazy golf and miniature steam railway. The local and regional beaches are Littlehaven, Sandhaven and Marsden Bay, whilst the Leas offers a two-mile coastal walking route along 250-million-year-old towering cliffs.

Some of the local attractions include The Word, the national centre for the written word, Arbeia, a Roman fort and part of Hadrian’s Wall World Heritage Site, South Shields Museum, The Customs House, The Dune, Jarrow Hall, Souter Lighthouse to name a few.

The pedestrianised King Street and Waterloo Square, as well as nearby Ocean Road, Fowler Street, The Denmark Centre and Queen Street offer a great selection of high street favourites and independent shops. A traditional market is held 6 days per week in a traditional square with the Town Hall at its centre. Every Sunday a flea market takes place here too. South Shields market place underwent remodelling works as part of the £100m South Shields 365 regeneration scheme.

Schooling in South Shields is seen as very good and reflects the continuous improvements to school results and independent inspections. South Tyneside College is one of the two leading maritime training centres in the UK and its facilities include a marine safety training centre and a simulated ship’s bridge for the training of deck officers. The college also offers other flexible vocational and training courses. Nearby universities include Newcastle University, Sunderland University and Northumbria University.

Tourism is very important to South Tyneside, generating around £305 million into the local economy. With around 6 million visitors per year many local jobs are in the tourism and service industries, whilst the Port of Tyne is another large employer. Additionally many residents commute to Newcastle, Gateshead, North Tyneside and Sunderland for work.

Burleigh Street,

South Shields,

Tyne and Wear,

England,

NE33 3LP

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