Red Rooves are delighted to bring Hopper House to the market which will see the creation of 81 stylish apartments in an outstanding central Gateshead location.
The development has been designed with students and young, professional urban tenants in mind and will include a host of desirable facilities, from a gym and sauna to bicycle parking and WiFi. Each apartment also features a terraced area to ensure that residents can enjoy their outside space as much as their tasteful interiors.
Offering the best in modern living and promoting a hassle-free lifestyle is core to the ethos behind Hopper House. As such, the apartments will offer an all-inclusive rental package, whereby tenants' heating, water, electricity, internet and so forth is included in their rent.
All apartments come fully furnished to an extremely high standard, with quality fixtures and fittings. Laundry rooms within the building reduce the need for washing machines in individual homes, thus maximising space for tenants while removing a maintenance headache for investors. This thoughtful approach to design has been applied across the development.
Ease of Purchase / Purchase Process;
- Choose your desired unit
- Secure this unit with £5000 deposit
- Complete and sign reservation fee
- Exchange contracts in 28 days, 50% of purchase prices, less reservation fee @ £29,997.50
- 6 Months stage payments of £17,495.75
- Remaining balance on completion - £17498.75
Break Down of Income and Expenses:
- Rental income £155 pw for 50 weeks of year
- Gross Rental income £7750
- Maintenance / Service Charge - £1375
- Management / Lettings - £525
- Ground Rent - £250
- Net Return - £5600 paid quarterly
- 8% Net Return
Kitchen - Integrated fridge with freezer compartment, hob & oven, High gloss veneered wall and base units with integrated handles, Veneered worktops, Stainless steel single bowl sink with drain board & chrome tap, Glass or Perspex splashback, Integrated extractor, extract ventilation to comply with building regulation requirements, Non-slip vinyl flooring tiles, Crockery - dinner plates, side plates & bowls, Cutlery - knifes, forks, spoons & teaspoons
Heating - Compact convector panel radiator, heated towel rail to en-suite in chrome finish, wired thermostat heating control
Doors - Internal flush veneered doors, 5 level lock and door viewer on each studio front door, electrical fittings in white
Bathroom - Contemporary white suite with chrome fittings, Ceiling down lighting and heated radiator, Ceramic splash back to sink and shower area, Linoleum flooring, Back to wall wc set into vanity top, Semi recessed wash basin with chrome mixer tap set into vanity top, shower tray with screen enclosure, wall fixed shower head and valve, bath & hand towels
Decoration - walls and ceiling are to receive one mist coat and two full coats of trade matt emulsion, all internal timer is to receive one coat of primer, two coats of undercoat and one final coat of matt paint, all painting materials will be approved from a manufacturer.
Bedrooms - Carpets to be adhesive tack applied, Acoustic rated underlay where required, Double bed and mattress with 2 pillows and 2 pillow cases, fitted sheet, flat sheet and duvet, fitted veneered wardrobe, study desk and chair, 2 x bookshelves, tub chair and coffee table, dining table with 2 chairs, wall mounted tv and bracket, roller blinds.
Communal areas - Reception, WC, Staff Room, Cycle Store, Bin Store, Laundry, Plant, Cleaning Store, Gym, Sauna, Wifi, CCTV, Fob Entry System, Post Boxes.
The town of Gateshead enjoys a superb location in Tyne and Wear. Not only a bustling town in its own right, it also sits directly across the river from Newcastle, meaning that Gateshead residents get to enjoy the best of town life right on the doorstep of one of the uk's most exciting cities. Hopper House residents, for example, are within walking distance of the town centre, where they can enjoy easy access to plentiful shops, supermarkets, banks and leisure facilities, including a nearby Vue Cinema. Students living at Hopper House can reach Gateshead College's Baltic Campus on foot in just 10 minutes, while Newcastle University is merely a brisk half hour walk away (or a 9 minute drive).
Gateshead is home to some 200,000 people, with a town economy valued at £4.18 billion. The town is building quite the reputation for its innovative business culture and young, talented workers. In recent months, this has seen robot manufacturer Comau UK move in, branding agency Blue Kangaroo (the bods behind Peppa Pig and Doctor Who) expand its Gateshead base, and manufacturing plant Nov Mission Products transform into a 'best in class' producer for the energy industry. Meanwhile, Northern Gas and Power announced plans to create up to 500 jobs in Gateshead earlier this year, while the Gateshead Economic Growth Acceleration Plan is supporting the creation of 4,000 jobs between 2015 and 2020. Local employment opportunities abound, schools are good and real estate is affordable. It's no wonder Gateshead enjoys the joint highest life satisfaction rating (along with Sunderland) in Tyne and Wear.
Gateshead's housing market offers excellent value for money. With an average property price of £129,568, compared to an average of £243,935 for England as a whole, those investing in the town have a fantastically affordable entry point into the market.
Investment Case - Fast Facts;
Gateshead is the main major area in the Metropolitan borough of Gateshead.
The town accounts for some 60% of the borough's population
Gateshead is known for its architecture and cultural attractions, including the 20m tall Angel of the North
Gateshead's population is projected to increase to around 211,500 by 2039
The North East Local Enterprise Partnership is bidding to be one of the national testbeds for 5G technology
Gateshead enjoys higher than average superfast broadband availability, at 91%, compared to an average of 89% for England
Newcastle/Gateshead attracts around 2 million visitors per year, with 9 out of 10 hotel rooms full every weekend
The Tyne and Wear Metro is the second largest rapid transport system in the UK
Sold prices provided by Land Registry
26th Feb 2018