Residential Portfolio in NE65

Lake Road, Hadston, Northumberland, NE65 9TG

Offers over
£1,350,000

Sold

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

  • 2 Storey Freehold Block of 25 flats
  • Potential To Increase To 38+ Flats STPP
  • Gross Fully Let £149,340 Yield 11.1%
  • High Occupancy Rates - All Let On ASTs

Residential Portfolio in NE65

**AMAZING INVESTMENT OPPORTUNITY TO PURCHASE THIS F/H BLOCK OF 25 FLATS IN HADSTON TOWN CENTRE WITH THE OPTION TO EXTEND FURTHER ADDING AT LEAST 50% MORE FLATS TO THE CURRENT FOOTPRINT**

All one and two bedroom apartments are currently being let on assured shorthold tenancy (AST) agreements. The 25 flats are in high demand due to there being limited numbers of 1 bed flats available to rent in the local area and as such have a high occupancy rate. The apartments have been well maintained and are all self-contained within a modern two story single building. There is the ability subject to obtaining local authority planning approval, to further extend the property by at least 13 units by adding 2 wings and 2 units over a single story extension. This in turn would add at 50-60% more rental income.

Just over 3 miles from Hadston is Amble town where there is a large Morrisons supermarket, marina and yaught club, Amble links holiday park leisure centre with pool, an array of shops, cafe's and restaurants, pubs, bars and ice cream parlours! Amble is also home to some of the finest fish and chip shops, and seafood restaurants in Northumberland.

Also just the other side of the coast road from Hadston is located Druridge Bay Country Park. Druridge Bay Country Park has all the amenities you will need to enjoy a day at the coast with cafe and children's play area, large lake where you can take your own boat, meadows and woodlands. The lake and park was restored from an old opencast coal mine and has now become a very pleasant landscape for walks and picnics. In addition a short walk from the lake is 3 miles of high-quality beach and sand-dunes offering ample space to get away from it all.

The property benefits from gas central heating and double glazing.

https://www.visitnorthumberland.com/explore/destinations/towns-villages/alnwick


Summary

  • Property Type: Residential Portfolio
  • Tenure: Freehold
  • Parking: Driveway

Location

Hadston has a well established infrastructure which includes, a health clinic, a Co-operative supermarket, Healthclub (next to building) take out restaurants and a pharmacy. Hadston is located just off the A1068 Coast road which joins the A1 at Alnwick and then heads south towards Newcastle. There are also good bus services to Amble, Alnwick and Morpeth from Hadston.
Under 20 minutes drive away is Alnmouth train station which has direct trains to London and Edinburgh.

Accommodation

The portfolio comprises 17 number one beds, 8 number two bed flats. We are advised that all have gas central heating.

EPC

All available upon request (rating C).

Tenure

Freehold. Title number ND144314.

Council Tax

Band A

Letting Agreements

All flats are fully let on ASTs agreements

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.