1 -3 Westgate House, 252-258 Westgate Road, Newcastle upon Tyne

Residential Portfolio Investment For Sale

Offers in excess of £507,000

Key Features

Features
Prime student and professional accommodation investment for sale
Comprising 2 HMO flats and houses
Immediately adjacent to the new Science City Quarter
Popular location for student and professional accommodation
Recently renovated accommodation
Passing rent of £35,516.04 per annum
Transport
Bus stops 0.1 mile away
0.5 miles to Haymarket, Central and St James Metro Station
1 miles from A167 (M)

Property Description

INVESTMENT SUMMARY

Prime student accommodation investment for sale

Comprising 2 HMO flats and houses

Immediately adjacent to the new Science City Quarter

Popular location for student and professional accommodation

Recently renovated accommodation

Passing rent of £35,516.04 per annum.

We are instructed to seek offers in excess of £507,000 equating to a net initial yield of 6.69% assuming purchasers costs at 4.73 %.

LOCATION

The properties are location on Westgate Road in Newcastle upon Tyne City Centre. Westgate Road is a main road that links the A1(M) with Newcastle city centre. The properties are 0.5 miles from Central Train Station and Metro Station as well as St James Metro Station and St James Park Football Stadium and intu Eldon Square.

DESCRIPTION

The subject properties comprise of a prominent mid terrace house of multiple occupation. The property has basement facilities which have the potential to be renovated into further HMO accommodation. The property has been refurbished to a high standard with new kitchen and bathroom facilities in 2018.

The apartments are currently let at a weekly rent of £82.50 per person / per room.

ACCOMMODATION AND TENANCY INFORMATION

Property
Rent (PCM)
Description
1 Westgate House, 252-258 Westgate Rd

Basement flat, not yet developed; expected rent when complete c.£500pcm
2 Westgate House, 252-258 Westgate Rd
£1,118.00
HMO, flat, mix of student and professional
3 Westgate House, 252-258 Westgate Rd
£1,841.67
HMO, flat, mix of student and professional
Total rent PCM
£2,959.67
 
Total rent per annum
£35,516.04
 

EPC     

2 Westgate House           E41

3 Westgate House           E41

TERMS

The accommodation is available by way of freehold with a price of offers in excess of £507,000 (Five Hundred and Seven Thousand Pounds).

VAT

All rents, premiums and purchase prices quoted herein are exclusive of VAT. All offers are to be made to Bradley Hall upon this basis, and where silent, offers will be deemed net of VAT.

LEGAL COSTS

Each party is to bear their own legal costs involved in the transaction.

VIEWING

For general enquiries and viewing arrangements please contact Tim Aisbitt or Neil Hart at Bradley Hall.

Tel:      0191 232 8080

Email:  tim.aisbitt@bradleyhall.co.uk

            neil.hartbradleyhall.co.uk


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