investment in NE1

Clayton Street, Newcastle upon Tyne, Tyne and Wear, NE1 5PZ

£250,000

Alternatively call 0191 580 1587 or email commercial@pattinson.co.uk

  • 3 x Self Contained 1-Bed Apartments
  • Tenanted at £19,800 per annum
  • NIY 7.92% After Purchaser's Costs
  • City Centre Location
  • Grade II Listed
  • Leasehold 999 yrs

investment in NE1

Pattinson are pleased to offer this appealing residential investment opportunity of three self-contained one bedroom apartments, located in the centre of Newcastle upon Tyne. The property is situated on the bustling Clayton Street and is set within the main leisure district of the city centre. Clayton Street is an established retail street, stretching from Greys Monument down to Westgate Road, within the historic area of Grainger Town.

The three residential apartments are each let at a rent of £550 per calendar month which equates to £19,800 per annum. A sale at the purchase price would reflect a Net Initial Yield of 7.72% after considering purchaser's costs.

Summary

  • Property Type: Investment
  • Tenure: Leasehold
  • Parking: None

Location

The subject property is situated within Clayton Street, Newcastle upon Tyne, located within the main leisure district of the city centre. Clayton Street is an established retail street stretching from Greys Monument south to Westgate Road. Clayton Street is an established shopping location within the city centre with a number of household retailers encouraging high levels of footfall and passing trade.

Accommodation

FIRST FLOOR:
Lounge/kitchen
Bedroom
Bathroom

SECOND FLOOR:
Lounge/kitchen
Bedroom
Bathroom

THIRD FLOOR:
Lounge/kitchen
Bedroom
Bathroom

Lease Details

We have been advised the property is fully tenanted achieving an annual income of £19,800 (£550 per calendar month) on tenancies running until September 2021.

EPC

Available upon request (rating G).

Additional Information

For further information please contact our office direct on 0191 737 1154, or alternatively via e-mail on commercial@pattinson.co.uk. With regards to viewing the subject property, this is to be done strictly by appointment through Keith Pattinson Commercial department. Please contact us to arrange an internal inspection, or to register your interest.