17 James Street, Newcastle upon Tyne
Offers In Excess Of £1,950,000
• Prime student accommodation investment for sale
• Comprising 6 HMO flats and houses
• Fully let until next year
• Popular location for student accommodation
• Recently renovated accommodation
• Passing rent of £126,880 per annum.
• We are instructed to seek offers in excess of £1,950,000 equating to a net initial yield of 6.12% assuming purchasers costs at 6.26 %.
The properties are located on the corner of St James Street and St James Terrace in Newcastle upon Tyne city centre. The properties are within walking distance of St James Park Football Stadium and Leazes Park as well as being less than half a mile from Haymarket Metro Station Northumberland Street and intu Eldon Square.
The properties comprise of a substantial end terrace Grade II listed Georgian block of properties comprising of houses of multiple occupation with separate front door access to each the 9 flats. The properties have all recently undergone a comprehensive refurbishment that includes new kitchens, new bathrooms, new plumbing and heating, complete redecoration and modern living areas.
The apartments are currently let at a weekly rent of £110 per person / per room.
ACCOMMODATION AND TENANCY INFORMATION
Property Rent (PCM) Description
Flat 1- 17 St James St, Newcastle £910.00 HMO, flat, mix of student and professional
Flat 2- 17 St James St, Newcastle £2,275.00 HMO, flat, mix of student and professional
Flat 3- 17 St James St, Newcastle £1,906.67 HMO, flat, mix of student and professional
Flat 4- 17 St James St, Newcastle £2,275.00 HMO, flat, mix of student and professional
Flat 5- 17 St James St, Newcastle £1,906.67 HMO, flat, mix of student and professional
Flat 6- 17 St James St, Newcastle £1,300.00 HMO, flat, mix of student and professional
Total rent PCM £10,573.00
Total rent per annum £126,880.00
1 St James Street D64
2 St James Street C70
3 St James Street D66
4 St James Street C73
5 St James Street C72
6 St James Street B81
The accommodation is available by way of freehold with a price of offers in excess of £1,950,000 (One Million Nine Hundred and Fifty Thousand Pounds),
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.
Each party is to bear their own legal costs involved in the transaction.
For general enquiries and viewing arrangements please contact Tim Aisbitt or Neil Hart at Bradley Hall.
Tel: 0191 232 8080