Sunderland, SR1 1RH | Investment Property for Sale | VES-SR1-046

Opportunity to purchase an apartment in Sunderland with the potential to generate £7,215 rent pa

£59,950

Apartment

VES-SR1-046

INITIAL INVESTMENT

£29,179

GROSS RENT / YIELD

£7,215 / 12.0%

NET RENT / YIELD

£4,612 / 7.7%

ADD TO FAVOURITES

Guaranteed rent

A fixed rental income, paid each and every month without all of the normal stresses involved in letting a property.

You still get rent even if the property isn’t tenanted. See property description for more details.

The property

TENANCY

Vacant

TENURE

Leasehold

GROUND RENT

£250

SERVICE CHARGE

£680

1 bedroom

1 bathroom

1 reception room

323

Fully Furnished

Please note this is a cash purchase only due to its low value. Please click "Cash Buyer" option in the below Financials section because "Market Average" automatically include a mortgage.

Leasehold information

  • Length of lease: 250 years
  • Year lease started: 2019

Property information

  • 1st floor apartment
  • Developer assured 9% NET rental return (less ground rent) for 3 years
  • Furniture pack included in the purchase price, see details below
  • Kitchenette fitted with electric hob and a fridge/freezer
  • Let and managed by third party agent
  • EPC rating B

Furniture pack includes:

  • Double bed
  • Wardrobe
  • Sofa
  • Coffee table
  • Dining table + 2 chairs
  • Bathroom mirror
  • 32' wall mounted flatscreen tv
  • Blinds

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 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

£7,215

Equivalent of £601 per calendar month (PCM).

GROSS RENTAL YIELD

12.0%

Gross rent per annum divided by the purchase price.

NET RENT PER ANNUM

£4,612

Gross rent per annum minus fully managed operating costs.

NET RENTAL YIELD

7.7%

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

FULLY MANAGED OPERATING COSTS

£2,603

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 Sunderland

Sunderland is a city in the north east of England located on the east coast. It lies around 15 miles south-east of Newcastle upon Tyne and roughly 14 miles north of Durham.

The A19 runs north-to-south along the western edge of the city, joins up with the M1 motorway to Edinburgh north of Newcastle and south through Teesside. The A1231 starts in the city centre and runs to the A1 via Washington, connecting Sunderland with London via Doncaster, Peterborough and Cambridge.

Sunderland railway station operates both national rail services as well as metro services. There are 5 direct trains to London King’s Cross on weekdays taking around 3.5 hours. From Newcastle, a 30-minute metro ride away, regular services go to Edinburgh, Glasgow, Leeds, Manchester Piccadilly, Liverpool Lime Street and Birmingham.

The city boasts a number of attractions for visitors and locals alike, such as the 14th century Hylton Castle, the National Glass Centre, Sunderland Museum and Winter Gardens, as well as the beaches of Roker and Seaburn. For anyone interested in outdoor pursuits the Hadrian’s Wall Path starts in Wallsend, approx. 13 miles outside of Sunderland, and runs for 84 miles on the east coast to Bowness-on-Solway.

Being one of the UK’s competitive business locations Sunderland is home to a number of well-known companies such as Barclays, Nike, EDF Energy, BAE Systems, Nissan, Northern Rock (now part of Virgin Money UK) and Johnson Controls, to name a few.

Fawcett Street,

Sunderland,

Tyne and Wear,

England,

SR1 1RH

What makes us different?

Vesta’s sole purpose is to make buying and selling rental property easy for both landlords and tenants.

Benefits include:

  • Buy tenanted property
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Questions?

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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.

In no event will we be liable for any loss or damage, including without limitation any loss or damage arising directly or indirectly out of or in connection with the use of this website and the information contained therein.

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