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Property Listing Details

Property details

  • 1 bathroom
  • 1 reception room

Listing view statistics

Last 30 days: 41 page views

Since listed: 1983 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.

The regional capital of North East England, Newcastle is one of the uk’s core cities and an integral part of the Northern Powerhouse.

Boasting international renown and some of the most affordable property prices in the UK, Newcastle has become a haven for property investors from around the world.

The average occupancy rate for rental properties in Newcastle currently stands at more than 95%, with the city council warning that there will be a shortfall of almost 16,500 homes for rent by March 2030 if development fails to keep pace with demand, making now the best time to invest in the busy ever growing city of Newcastle.

Financial Breakdown

Gross rent: £5,500
Ground rent: £250
Service charge: £2,259
Lettings fees: £748
Net income: £2,243
Gross yield: 11.01%
Net yield: 4.49%

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-12660

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 decrease

  • -£1,541
  • (-0.878%)
  • Over the last 12 months

In the last 12 months

  • Average sale price

    £152,258
  • Properties sold

    40

Rental opportunities

£680 pcm

Recent sales nearby

See all recent sales in NE1
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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
17th Jun 2019 £49,950 Price reduced by £5,050
23rd Apr 2019 £55,000 Price reduced by £3,000
2nd Nov 2018 £58,000 Price reduced by £2,000
21st Sep 2018 £60,000 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.