21 bedroom block of apartments for sale

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21 bedroom block of apartments for sale

Westmorland Road, City Centre, Newcastle Upon Tyne
£1,500,000

Our Summary

  • INVESTMENT OPPORTUNITY

Description

This property is a fully let block of 18 apartments located in Newcastle City Centre, with a mix of studio, one-bedroom, and two-bedroom units. The block is situated close to Newcastle Central Station, Life Science Centre, Newcastle Helix, and Newcastle University's Business School, making it ideal for both student and professional tenants. The total gross rental income for the 2023-24 academic year is £143,940, with an estimated earnings potential of £155,592 for the following year. The property is leasehold with a 999-year lease from 2011 and a quarterly service charge of £1,892.62 (including VAT). The council tax band is also varied.
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