Sunderland, SR1 1XH | Investment Property for Sale | VES-SR1-006

Opportunity to purchase an apartment in Sunderland generating £7,800 rent pa and a gross yield of 9.8%

£80,000

Apartment

VES-SR1-006

INITIAL INVESTMENT

£36,780

GROSS RENT / YIELD

£7,800 / 9.8%

NET RENT / YIELD

£3,730 / 4.7%

ADD TO FAVOURITES

The property

TENANCY

Tenanted

TENURE

Leasehold

GROUND RENT

£250

SERVICE CHARGE

£1,864

2 bedrooms

2 bathrooms

1 reception room

830

Fully Furnished

Property information

  • First floor apartment
  • Riverside aspect
  • Comes with a furniture pack
  • Concierge service in the building
  • Secure underground parking - 1 allocated space per unit
  • EPC rating B

Leasehold information

  • Year lease started 2004
  • Length of lease 125 years

Note

Vesta has access to further units in this block. Please get in contact if this is of interest to you.

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

The listings particulars haven't yet been reviewed by the vendor and are therefore not final.

Tenancy

RENT

£7,800 p.a. / £650 pcm

TENANCY DEPOSIT

£650

TENANCY TYPE

AST

TENANCY AGREEMENT STARTED

21 months ago

TENANCY AGREEMENT ENDS

Periodic

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

Rental Income

GROSS RENT PER ANNUM

£7,800

Equivalent of £650 per calendar month (PCM).

GROSS RENTAL YIELD

9.8%

Gross rent per annum divided by the purchase price.

NET RENT PER ANNUM

£3,730

Gross rent per annum minus fully managed operating costs.

NET RENTAL YIELD

4.7%

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

FULLY MANAGED OPERATING COSTS

£4,070

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

Click to understand assumptions.

Disclaimer

This information is for illustration purposes only and does not constitute advice. It is correct at the time of writing. For advice specific to your personal circumstances, please speak to a financial adviser.

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.

West Wear Street,

Sunderland,

Tyne and Wear,

England,

SR1 1XH

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