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3 bedroom mixed use for sale

11-15 Starbeck Ave/2 Kelvin Grove, Sandyford, NE2

£325,000

Property Description

Key features

  • Mixed Use Investment
  • 24,909pa Combined Income
  • 7.7% Gross Yield
  • Residential Let to August 2017
  • Residential Pre-Let to August 2018
  • Commercial Lease Renewable in 2018
  • Three Bed First Floor Flat
  • Ground Floor Commercial
  • EPC Rating D & D

Full description

**EXEMPT FROM THE 3% STAMP DUTY LAND TAX SURCHARGE BROUGHT INTO FORCE 1ST APRIL 2016**

INVESTMENT PORTFOLIO // RESIDENTIAL LET TO 2017 AND PRE-LET TO 2018 // COMMERICAL THREE YEAR LEASE RENEWABLE IN 2018

Starbeck Avenue/Kelvin Grove, Sandyford - Mixed Use Commercial Pair comprising of an upper maisonette and ground floor commercial unit. The maisonette comprises lounge, kitchen, three double bedrooms, shower room. The maisonette is tenanted until August 2017 producing £12,409 annual income, it is also pre-let until August 2018. The commercial unit has a lease renewable in 2018, generating £12,500pa. The overall annual income is £24,909pa, with a Gross Yield of 7.7%.

Location - This property is located on a the corner of Starbeck Avenue and Kelvin Grove in Sandyford, a popular rental area to the north east of Newcastle City Centre and within easy striking distance of Newcastle and Northumbria Universities. Sandyford has a range of local amenities and cafes, with public transport links nearby including major bus routes and road links to the A167 (M) to Gateshead for the A1 and A1058 east to The Coast.

2 Kelvin Grove (Residential) -

Main Entrance & Hallway - A private front entrance door leads to a small hallway with a secondary door leading to the stairwell which gives rise to the accommodation on the first floor. On the first floor landing there is a pendant light fitting.

Lounge - 2.85m x 3.61m (9'4" x 11'10") - The lounge is situated to the rear of the property comprising of a uPVC window, central heating radiator, television point, telephone point, pendant light fitting and carpet flooring. An external door leads to a stairwell which provides access to the rear of the property.

Kitchen - 2.40mx 2.98m (7'10" x 9'9") - The kitchen is situated to the rear comprising PVC double glazed window, a range of fitted wall and base units, tiled splash back plus a cooker hood extractor with electric oven and hob. There is plumbing for a washing machine and fridge freezer, double central heating radiator, stripped light fitting and vinyl flooring.

Bedroom One - 3.89m x 4.59m (12'9" x 15'1") - Double bedroom is situated to the front comprising of two uPVC windows, double central heating radiator, pendant light fitting and carpet.

Bedroom Two - 3.85m x 3.10m (12'8" x 10'2") - Double bedroom situated to the front of the property comprising of a uPVC double glazed window, double central heating radiator, pendant light fitting and carpet.

Bedroom Three - 3.32m x 3.47m (10'11" x 11'5") - Double bedroom situated to the side of the property comprising of a UPVC double glazed window, double central heating radiator, pendant light fitting and carpet.

Bathroom - The bathroom is situated to the rear of the property comprising of a mains shower over panelled bath, pedestal hand wash basin, low level WC. There is a central heating radiator, extractor fan, strip light fitting, part tiled walls and vinyl flooring.

Epc Rating D -

11-15 Starbeck Avenue (Commercial) - A 'triple' commercial unit which is currently operated as a cafe, with kitchen and toilet facilities.

Epc Rating D -

External - Externally there is a shared yard. Parking is available on street and there is a Permit Parking system in place.

Agents Note - This listing is classed as a 'Mixed Use' property and therefore falls into the 'Commercial' category. Commercial properties are exempt from the 3% surcharge on Stamp Duty Land Tax rates brought into force on 1st April 2016.

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