1 - 11 Homeside, South Shields

INVESTMENT SUMMARY

• 11 Apartments

• Freehold site approximately 0.47ac

• Sought after residential street

• Fully occupied rent roll circa £79,860per annum

• We are instructed to seek a price of £1,200,000 equating to a gross yield of 6.7%.

LOCATION

The subject property is in Westoe Village which offers an assortment of fine 18th and 19th century buildings. It sits on a tree-lined street of larger character homes just north of South Tyneside College.

The property is well placed within the village to provide easy access into South Shields Town Centre, good local transport links as well as local schooling, beaches, and parks, which are all only a short walk away.

The property is easily accessible by road and public transport as it benefits from being 0.6 miles from Chichester Metro Station. The A194 link road is 1.2 miles away and the A19 is approximately 3.2 miles away.

DESCRIPTION

The subject property comprises a former nursing home, which was converted to residential use around the year 2007. The original building to the east of the site houses apartments 5-11 which have a communal access door, hallway and staircase.

To the western side of the site is a more recently constructed building housing apartments 1-4 which all have their own private uPVC entrance door.

TERMS

The subject property is available by way of freehold with a guide price of £1,200,000.