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Studio flat for sale
Burgess House, St James Boulevard, Newcastle Upon Tyne NE1
£43,500
Burgess House, St James Boulevard, Newcastle Upon Tyne NE1
£43,500
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
- We are pleased to present this opportunity to invest in this self-contained studio, situated in the popular student development Burgess House in the heart of Newcastle
- This is a great investment opportunity, so make sure you enquire today to avoid missing out
Description
This is an investment opportunity to purchase a self-contained studio in the popular student development, Burgess House, located in the heart of Newcastle. The property is situated in a boutique student pod with a personal fitted kitchen and en-suite bathroom, and offers communal areas including a gym, laundry room, and entertainment lounge. With a gross rent of £9,690 and a net income of £4,451, the property offers a gross yield of 22.28% and a net yield of 10.23%. The property is managed by a reputable student lettings company, Xenia Estates, and is located close to local amenities, clubs, and bars, as well as universities and the train station. Due to lease restrictions, the property can only be purchased as an investment property with cash, and is not eligible for a mortgage.