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Studio for sale

£69,995 (£255/sq. ft) Fixed price

Hopper Street, Hopper House, Gateshead NE8

1 1 274 sq. ft*
Interested in this property? Call +44 151 382 7338 * or Request Details

* Calls to this number will be recorded for quality, compliance and training purposes.

Property features

  • Student Studio Apartment Investments
  • Cash Investors Only
  • 3 Year Assured Rental at 8% - Paid Quarterly
  • Studios for Only £69,995
  • Hands Free Investment with Unlimited Exit Strategies
  • Studios available with accessible Terraces/Balconies available
  • Fully Self-Contained Studios - Fully Furnished
  • Exceptionally Large Accomadation
  • Completion Q4 2018
  • On-Site - Reception, Gym, Sauna, Bike Store

Property description

Detailed Description

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
The Specification;
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

Market activity
Average price paid £125,098 Sales 376 Current average value £124,904 (Zoopla Zed-Index) Value change £5,537 ▲ 4.64%

Property value data/graphs for NE8

Property type Avg. current value Avg. £ per sq ft. Avg. # beds Avg. £ paid (last 12m)
Detached £198,206 £172 3.5 £216,881
Semi-detached £135,600 £150 2.8 £121,365
Terraced £143,097 £136 3.3 £151,052
Flats £109,366 £190 2.2 £104,808

Current asking prices in NE8

Average: £113,067
Avg. current asking prices in NE8
Property type 1 bed 2 beds 3 beds 4 beds 5 beds
Houses - £90,129
Flats £83,826
All £83,826

Current asking rents in NE8

Average: £662 pcm
Avg. current asking prices in NE8
Property type 1 bed 2 beds 3 beds 4 beds 5 beds
Houses £406 pcm
£503 pcm
£756 pcm
£983 pcm
£739 pcm
Flats £514 pcm
£643 pcm
£757 pcm
£669 pcm
£847 pcm
All £503 pcm
£635 pcm
£757 pcm
£874 pcm
£775 pcm

Fun facts for NE8

Highest value in NE8
Highest value streets Zed-Index
Durham Road £333,830
West Park Road £265,132
Mill Road £252,872
St. Edmunds Court £228,589
Claremont Place £225,378
Highest turnover in NE8
Highest turnover streets Turnover
Spring Street 50.0%
Durham Road 50.0%
Parson Courtyard 50.0%
Mid Summer Way 43.8%
Ash Street 38.2%

What Zoopla users think of Bensham

Overall rating:

  • currently 3 stars
Good - 62% (46 ratings)

Ratings breakdown:

  • currently 3 stars
Community & safety
  • currently 2 stars
Entertainment & nightlife
  • currently 4 stars
Parks & recreation
  • currently 3 stars
Restaurants & shopping
  • currently 3 stars
Schools & public services
  • currently 3.5 stars
Transport & travel

Rate Bensham:

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Community & safety
  • currently 0 stars
  • 4
  • 1
  • 0
  • 3
  • 2
  • 5
Entertainment & nightlife
  • currently 0 stars
  • 4
  • 1
  • 0
  • 3
  • 2
  • 5
Parks & recreation
  • currently 0 stars
  • 4
  • 1
  • 0
  • 3
  • 2
  • 5
Restaurants & shopping
  • currently 0 stars
  • 4
  • 1
  • 0
  • 3
  • 2
  • 5
Schools & public services
  • currently 0 stars
  • 4
  • 1
  • 0
  • 3
  • 2
  • 5
Transport & travel
  • currently 0 stars
  • 4
  • 1
  • 0
  • 3
  • 2
  • 5

Nearby transport

  • Manors (0.7 miles)
  • Newcastle (0.8 miles)
  • Dunston (1.8 miles)
  • Newcastle Airport (6.4 miles)
  • Durham Tees Valley Airport (32.1 miles)
  • Leeds Bradford International Airport (75.9 miles)
  • Newcastle International Ferry Terminal (6.3 miles)
  • South Shields Ferry Terminal (6.8 miles)
  • North Shields Ferry Terminal (6.8 miles)

Nearby schools

View all schools in Gateshead
  • St Joseph's Roman Catholic Voluntary Aided Primary School, Gateshead (0.4 miles)
  • South Street Community Primary School (0.7 miles)
  • Caedmon Community Primary School (0.7 miles)
  • Discovery School (1.1 miles)
  • Trinity Solutions Academy (2.5 miles)
  • Gosforth Academy (3.6 miles)
  • Dryden School (1.4 miles)
  • Royal Grammar School (1.4 miles)
  • Newcastle High School for Girls (1.5 miles)
Note: Distances are straight line measurements

Local info for Gateshead

AskMe Q&A for Gateshead

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* Sizes listed are approximations. Please contact the agent to verify actual sizes.

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For more information about this property, please contact
Red Rooves Limited, L1 on +44 151 382 7338 * (local rate)

Monthly running costs Beta

£448 Monthly total


Purchase price
Deposit (10%) 6,999
Repayment term 25
Interest rate 1.5
Your payment £251 /mo How Much Could I Borrow

These results are not provided by NatWest and are only indicative based on a repayment mortgage product. Repayments will be subject to the product provided and your circumstances.

Your home or property may be repossessed if you do not keep up repayments on your mortgage.

Home Insurance

Rebuild value up to £1,000,000 Contents value up to £75,000 Average insurance cost £10/mo (£126/yr)
Compare insurance deals now In partnership with uSwitch
Home insurance costs explained

Home Insurance is based on the average price of a building and contents quote for a property in this area in the last 48 months.

Source: Autonet Insurance Ltd


Gas £20 Electricity £25 Estimated energy cost £45/mo

Similar properties could save up to £193

How Much Could I Save? In partnership with uSwitch
Energy costs explained

The estimated energy cost for this property has been calculated using actual energy usage data for a property of this type, number of bedrooms and region.

Estimated consumption

Gas: 6300 kWh/year
Electricity: 1800 kWh/year

Source: National Energy Efficiency Data Framework

Council Tax

Local authority


Estimated tax band A Council tax cost £119 /mo
when paid over 10 months
Council tax costs explained

The Council Tax cost displayed is based on the council tax band and on the basis of 2 adults living at the property. The monthly cost shown excludes any discounts and is rounded to the nearest pound.

Full information on Council Tax discount entitlements can be found on the Gov.UK’s website.


Supply £10 Sewerage £13 Estimated water cost £23 /mo
Water costs explained

Water consumption is based on average water usage for the predicted occupancy of the property based on the number of bedrooms.

Total annual consumption (in cubic meters) is then averaged into a monthly cost.

Note: If you have 2 separate suppliers for water and sewage, you may receive 2 separate bills.

Contact Red Rooves Limited about this property

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Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by Red Rooves Limited, and do not constitute property particulars. Please contact Red Rooves Limited for full details and further information. The Running Costs data displayed on this page are provided by Zoopla to give an indication of potential running costs based on various data sources. Zoopla does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions, related information or Running Costs data provided here.

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