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Property Listing Details

Property details

  • 1 bathroom

Listing view statistics

Last 30 days: 106 page views

Description

**please note! Due to the size and lease restrictions on purpose-built student accommodation, this property is not eligible for a mortgage and can only be bought as an investment property - cash buyers only need apply!

Burgess House sits in the midst of Newcastle, a bustling student city. This former office block has now been transformed into 110 boutique Student Pods with personal fitted kitchen and en-suite bathroom.

Along with this the development boasts communal areas including a gymnasium, laundry room, secure bicycle storage and fully-equipped entertainment lounge, making this an ideal place to work and play.

Centrally located, students will find themselves close to local amenities, clubs and bars, as well as in good proximity to both universities and the train station.

Managed by experienced Student Lettings company, Fortis Developments, Burgess House is the perfect addition to any property investment portfolio with a net Yield of 7.12%.

Financial Breakdown

Gross rent: £6,375
Ground rent: £200
Service charge: £2,259
Lettings fees: £867
Net income: £3,049
Gross yield: 14.17%
Net yield: 6.77%

Important Note To Purchasers

*Service charge, management fee and ground rent are included as part of the assured rental period.
These particulars, whilst believed to be accurate are set out as a general outline only for guidance, and do not constitute any part of an offer or contract. Neither Yieldit nor the vendor or lessor accept any responsibility in respect of these particulars, which are not intended to be statements or representations of fact and any intending purchaser must satisfy himself by inspection or otherwise as to the correctness of each of the statements contained in these particulars.

Yieldit ref: Yl-10074

Map & Nearby

Local Amenities

  • Newcastle 0.2 miles
  • Manors 0.8 miles
  • Our Lady and St Anne's RC Primary School 0.2 miles
  • St Paul's CofE Primary School 0.3 miles

Local map of the area

Map View Map showing location of property

Local Amenities

  • Newcastle 0.2 miles
  • Manors 0.8 miles
  • Our Lady and St Anne's RC Primary School 0.2 miles
  • St Paul's CofE Primary School 0.3 miles

Market stats

Sale activity

Average estimated value for a flat in NE1:

  • £173,915
  • Price increase

  • £4,523
  • (2.670%)
  • Over the last 12 months

In the last 12 months

  • Average sale price

    £152,258
  • Properties sold

    40

Rental opportunities

£667 pcm

Recent sales nearby

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Estimated running costs

Based on available 3rd party data

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The Developer

Price history

Sold prices provided by Land Registry
23rd Apr 2019 £45,000 First listed

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Property descriptions and related information displayed on this page are marketing materials provided by Yieldit. Zoopla does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions or related information provided here and they do not constitute property particulars. Please contact Yieldit for full details and further information.