Peake Street, Newcastle, ST5 6DP
- PROPERTY TYPE
Terraced
- BEDROOMS
2
- BATHROOMS
1
- SIZE
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- TENUREDescribes how you own a property. There are different types of tenure - freehold, leasehold, and commonhold.Read more about tenure in our glossary page.
Freehold
Key features
- Central heating
- Double glazed
- Garden
Description
7 Peake Street, Knutton, Newcastle-under-Lyme, Staffordshire, ST5 6DP
TENANTED BUY-TO-LET Investment
An opportunity to acquire a tenanted two-bedroom mid-terrace property located within the established residential area of Knutton, Newcastle-under-Lyme.
Offered for sale with the benefit of a tenant in occupation, the property currently produces a rental income of £650 per calendar month (£7,800 per annum), providing income from completion. Based upon the asking price of £110,000, this equates to an approximate gross rental yield of 7.09%.
The accommodation comprises of two reception rooms, a fitted kitchen, two bedrooms and a first-floor family bathroom. Externally, the property benefits from an enclosed rear yard.
Knutton remains a well-established residential location situated approximately two miles from Newcastle-under-Lyme town centre and offers convenient access to local amenities, transport links, educational facilities and major employers including Royal Stoke University Hospital and Keele University.
This property may appeal to landlords seeking a buy-to-let investment with an existing tenancy already in place.
Key Features
Tenant in Situ
Current Rental Income: £650 PCM
Annual Rental Income: £7,800
Approximate Gross Yield: 7.09% at Asking Price
Asking Price: £110,000
Two-Bedroom Mid-Terrace Property
Two Reception Rooms
Fitted Kitchen
First Floor Bathroom
Enclosed Rear Yard
Freehold
EPC Rating D
Council Tax Band A
Established Residential Location
Immediate Rental Income from Completion
Location
Peake Street is situated within Knutton, a residential area forming part of the Borough of Newcastle-under-Lyme in Staffordshire. The property benefits from access to local shops, schools, healthcare facilities and public transport services.
Newcastle-under-Lyme town centre is located approximately two miles away and provides a wide range of retail, leisure and dining amenities. The area also benefits from access to the A34, A500 and M6 motorway network, providing links throughout Staffordshire, Cheshire and the wider Midlands region.
Accommodation
Ground Floor
Front Reception Room
Rear Reception Room
Kitchen
First Floor
Bedroom One
Bedroom Two
Family Bathroom
Outside
Enclosed Rear Yard
Property Information
Asking Price: £110,000
Current Rent: £650 PCM
Annual Rental Income: £7,800
Gross Yield: Approximately 7.09%
Tenure: Freehold
EPC Rating: D
Council Tax Band: A
Investment Overview
The property is being sold with the benefit of an existing tenant, allowing a purchaser to receive rental income from completion.
At the current rent of £650 PCM, the property generates £7,800 per annum, providing an approximate gross yield of 7.09% based on the asking price.
Investors should undertake their own due diligence regarding tenancy arrangements, local rental values, running costs and future investment performance.
Illustrative Yield Scenarios
Monthly Rent
Annual Income
Gross Yield at £110,000
£650 PCM
£7,800
7.09%
£700 PCM
£8,400
7.64%
£750 PCM
£9,000
8.18%
Figures shown are illustrative only and do not constitute a guarantee of future rental income or investment performance.
Disclaimer
The information contained within these particulars is provided in good faith and is believed to be correct. Prospective purchasers should satisfy themselves as to the accuracy of all information, measurements, tenancy details, tenure, planning matters and investment returns prior to exchange of contracts. Rental yields quoted are gross figures and do not take account of management costs, maintenance, insurance, void periods or taxation.
- COUNCIL TAXA payment made to your local authority in order to pay for local services like schools, libraries, and refuse collection. The amount you pay depends on the value of the property.Read more about council Tax in our glossary page.
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- PARKINGDetails of how and where vehicles can be parked, and any associated costs.Read more about parking in our glossary page.
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- GARDENA property has access to an outdoor space, which could be private or shared.
- Yes
- ACCESSIBILITYHow a property has been adapted to meet the needs of vulnerable or disabled individuals.Read more about accessibility in our glossary page.
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Peake Street, Newcastle, ST5 6DP
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