Kingsgate Terrace, Hexham

DESCRIPTION An immaculate two bedroom ground floor holiday let apartment with outside courtyard situated in a convenient location in Hexham. This property is being sold with restrictions that it must remain a holiday let in contract with Hexham Holiday Homes.
The property comprises of entrance hall, with a door leading to one of the double bedrooms. A door then leads through to an immaculate open plan kitchen diner /lounge. The kitchen is fitted with a range of stylish gloss wall and base units with complimentary work surfaces and integral appliances including microwave, oven and gas hob with extractor hood along with washing machine and fridge freezer. The lounge has feature fireplace with wood burning stove. Off the lounge is the second double bedroom. The stylish bathroom is fitted with walk in shower, wash hand basin and WC.
Externally the property benefits from a gravelled patio to the rear.  

AGENCY NOTES The property is being sold with the terms and conditions that it is tied into the Hexham Holiday Homes management contract which is for 5 years with an option to 'get out' after 3 years if the property is not earning the owner at least a 5.5% return on their investment (purchase value), based on the previous 12 months to the date they would like to 'get out'.
Based on 2022 figures the owner will receive at least 7% return on their investment based on the purchase price of £185,000.
The management contract would ensure Hexham Holiday Homes takes control of the property including guest communication, handling payments, linen and cleaning. Hexham Holiday Homes can also assist with the maintenance service but this is not included in the contract.
The investment is a great opportunity for a buyer to gain an income without the hassle of managing it, the property was fully renovated in 2019 and has been maintained to a high standard ever since it has a turnover of £28,000 in the last 12 months and has a estimated turnover for 2023 of over £30,000.It already has £10,000 worth of bookings for the next 12 months.
It has an average 8.8/10 on booking.com and 4.85/5 on Airbnb across nearly 150 reviews.  

LOCATION Kingsgate Terrace is located in the desirable West End of Hexham, within walking distance of all the facilities and amenities the town has to offer. The property is well placed for the excellent schools in Hexham. The thriving market town of Hexham was voted the happiest place to live in Great Britain by Rightmove's annual Happy at Home index in 2019 and 2021. The streets of Hexham are home to many independent businesses, from delicatessens and greengrocers through to sport and arts centres.
Despite being surrounded by the tranquil Tyne Valley countryside, Hexham is within excellent road and rail distance of Newcastle, Carlisle and beyond; making it the perfect location for those that enjoy both country and metropolitan pursuits. 

SERVICES Mains gas, electricity, water and drainage are connected. Gas fired central heating to radiators also supplying the domestic hot water.  

CHARGES Council tax or business rates are not valid on this property providing it is the owners sole business premise.  

VIEWINGS Viewing is strictly by appointment. Arrangements can be made by contacting YoungsRPS, Hexham on .  

FREE MARKET APPRIASAL We would be pleased to provide professional, unbiased advice on the current value and marketing of your existing home.