Latest Valuation
£165,000
ROCE
6.47%
Location
Newcastle

Tenanted BTL – Highly Desirable Area

Buy the property, cash and benefit from the instant income. Yielding and cash flowing from day 1. Walking distance to local amenities.
Guide Price
£140,000

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Key Features

  • Tenanted BTL
  • Immediate cash flow
  • Cash buyers only
  • Potential large capital uplift in future

The Property

Located within walking distance of Newcastle Central Station, university, college and hospitals. Along with having an array of amenities to include shops, restaurants and public transport links. Cash buyers only.

Purchase price: £165,000

Tenanted at £795pcm

Gross yield: 6.81%

ROCE: 6.47% (based on cash purchase of £140,000 and the upfront costs: SDLT, sourcing fee, sols and insurance and annual rental income of £9,540)

Discounted sourcing fee of only £2,500

An ideal addition to any buy to let portfolio, yielding and cash flowing from day one with great prospects for future capital growth. There is a large amount of investment in the area which will also aid capital growth including the Newcastle Helix: £350m regeneration scheme that aims to create 4000 high tech jobs in Newcastle is being re-branded in a bid to win investment from around the world, Stephenson Quarter: Next stage of £200m Stephenson Quarter aims to bring high-paying jobs Newcastle; Ouseburn: Ambitious plans to transform the heart of Newcastle city centre into a world-class shopping destination have been unveiled.

Selling office: Sourced Rochdale

Planning Information

N/A

The Plan

Buy the property and benefit from instant income, large uplift in value when lease is sorted and also capital appreciation due to improvements in the region.

The Location

Modern 2 bedroom apartment on Newcastle’s Quayside in Hanover Mill development. The Quayside is a lively stretch along the River Tyne, home to the landmark Gateshead Millennium Bridge. Once a commercial dock, the area is now a nightlife hotspot with stylish bars, restaurants, and clubs. On Sundays, Quayside Market sells local produce, crafts, and street food. The opposite bank is dominated by the modern BALTIC art gallery and the steel curves of Sage Gateshead, a popular concert venue.

From its ship building and coal mining heritage, Newcastle has transformed itself into a leading cultural destination, renowned for being the business and social hub of the North East. Newcastle offers a great environment for people to work and visit where businesses can thrive. With £1.5b of investment planned for Newcastle, our city will be better than ever. (https://www.newcastle.gov.uk/our-city/growing-our-city)

Average estimated value for a house in NE1 3AD

£189,434

Sales of flats around NE1 3AD had an overall average price of £189,434 over the last year.

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