Sunderland, SR1 2QD | Investment Property for Sale | VES-SR1-060

Opportunity to acquire an unbroken apartment block with freehold in Sunderland

£3,250,000

50-unit Block

VES-SR1-060

INITIAL INVESTMENT

£961,500

Based on

deposit: £812,500

stamp duty: £97,500

mortgage fees: £1,500

conveyancing fees: £50,000

GROSS RENT

£291,300

GROSS YIELD

9.0%

ADD TO FAVOURITES

The block

TENURE

Freehold

NO OF UNITS

50

TENANCY STATUS

Vacant

FURNISHED

No

TOTAL SQ FT

17,752

PRICE SQ FT

£183

An opportunity to acquire a converted block of apartments in Sunderland situated within the city centre.

The scheme will benefit from 50 residential apartments and comes with Professional Consultants Certificate for the build warranty.

The block is currently under development and will consist of three stories in total (ground to 2nd). Completion is expected in March 2021.

Block information

  • 8 x studio apartments
  • 42 x 1-bedroom apartments
  • 16 parking spaces
  • The apartments are unfurnished but furniture packs can be supplied at cost if required
  • Expected rental income once fully let £24,275 pcm; £291,300 pa
  • Expected gross yield 9%
  • Expected net yield 7%

Notes

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

The floorplans are examples of a studio and 1-bed apartment in this development. Layout and sizes will vary.

At the time of listing there are no EPCs available for this property. However, Vesta will add these as soon as they have been received.

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 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.

Tatham Street,

Sunderland,

Tyne and Wear,

England,

SR1 2QD

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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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