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Melbourne Street, Newcastle upon Tyne, NE1

Offers in Excess of
£200,000
Added on 18/09/2020
Vesta, London
PROPERTY TYPE
Apartment
BEDROOMS
x4
BATHROOMS
x1
SIZE
760 sq. ft.
(71 sq. m.)

Key features

  • Fully tenanted investment property
  • £11,400 rent per annum
  • 5.7% Gross Rental Yield
  • 16.4% HPI (last five years)

Property description

Tenure: Leasehold

This is an investment opportunity to purchase an apartment in Newcastle generating £11,400 rent pa and a gross yield of 5.7%.

Leasehold information


  • Length of lease: 125 years
  • Year lease started: 2004

Property information


  • Located on the 3rd floor
  • Fully let 4-bed apartment
  • Comes with a spacious living room and separate kitchen
  • Comes with a parking space
  • EPC rating C
  • Lift access
  • Popular with students and young professionals
  • The building has a communal garden and is serviced and maintained by a management company

Rental income


  • Let for £950 pcm until June 2020 and then for £1,300 pcm from July 2020 until June 2021
  • Gross rental yield from July 2020 will be 7.1%, based on new rental income

Location information


The property is ideal for families or students occupancy, offering a variety of educational institutions such as the Sacred Heart RC High School, Gosforth Academy and two universities, of which Newcastle University is within 100 meters walking distance and Northumbria University is just on the doorstep.

Energy Performance Certificates

EPC 1

Melbourne Street, Newcastle upon Tyne, NE1

NEAREST STATIONS

Distances are straight line measurements from the centre of the postcode
  • Manors Station0.1 miles
  • Newcastle Central Station0.6 miles
  • Jesmond Metro Station0.7 miles
Mortgages
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Market information
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About the agent

Vesta, London

Aston House, Cornwall Avenue, London, N3 1LF

Vesta, London
Vesta. A simpler way to buy. A smarter way to sell
Marketplace for residential investment property 

Vesta is the marketplace for buying and selling rental property

  • Most properties are sold tenanted, meaning you earn rental income from day one and the tenant gets to stay at home.
  • All properties come with rental, yield and tenancy information, including rental history for absolute clarity.
  • Investment guides and property management services avail
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Disclaimer - Property reference VES-NE1-001. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Vesta, London. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.

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