4 bed Flat For Sale £200,000
Melbourne Street, Newcastle Upon Tyne NE1

This is an investment opportunity to purchase an apartment in Newcastle generating £11,400 rent pa and a gross yield of 5.7%.

Leasehold information

• Length of lease: 125 years
• Year lease started: 2004

Property information

• Located on the 3rd floor
• Fully let 4-bed apartment
• Comes with a spacious living room and separate kitchen
• Comes with a parking space
• EPC rating C
• Lift access
• Popular with students and young professionals
• The building has a communal garden and is serviced and maintained by a management company

Rental income

• Let for £950 pcm until June 2020 and then for £1,300 pcm from July 2020 until June 2021
• Gross rental yield from July 2020 will be 7.1%, based on new rental income

Location information

The property is ideal for families or students occupancy, offering a variety of educational institutions such as the Sacred Heart rc High School, Gosforth Academy and two universities, of which Newcastle University is within 100 meters walking distance and Northumbria University is just on the doorstep.