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Studio flat for sale
Burgess House, St James' Boulevard, Newcastle upon Tyne, NE1 4BW
£40,000
Burgess House, St James' Boulevard, Newcastle upon Tyne, NE1 4BW
£40,000
Our Summary
- Due to the size and lease restrictions on purpose-built student accommodation, this property is not eligible for a mortgage and can only be bought as an investment property - cash buyers only need apply
Description
This self-contained studio is an investment opportunity in the popular student accommodation, Burgess House, in Newcastle. The property features a personal fitted kitchen and en-suite bathroom, and is part of a development that includes communal areas such as a gym, laundry room, and entertainment lounge. The location is central to local amenities, clubs, and bars, and is close to both universities and the train station. The property is managed by an experienced student lettings company, Fortis Developments, and is a great addition to any property investment portfolio. With a gross yield of 20.72% and a net yield of 9.31%, this property is a lucrative investment opportunity. However, please note that it is only available to cash buyers and is not eligible for a mortgage.