Studio flat for sale

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Studio flat for sale

Burgess House, St James' Boulevard, Newcastle, NE1 4BW
£50,000

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
  • 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 outFinancial BreakdownGross Rent: £8,670

Description

Located in the heart of Newcastle, this self-contained studio is part of a former office block that has been transformed into 110 boutique student pods. The property features a personal fitted kitchen and en-suite bathroom, as well as access to communal areas like a gym, laundry room, and entertainment lounge. The development is managed by a reputable student lettings company, and is located close to local amenities, clubs, and bars, as well as both universities and the train station. With a reputation as an economic hub and affordable property prices, Newcastle has become a popular destination for property investors. The gross rent for the studio is £8,670.00, and the net income is £3,710.56, resulting in a gross yield of 17.34% and a net yield of 7.42%.
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