13 bed Flat For Sale £870,000
Portland Terrace, Jesmond, Newcastle Upon Tyne, NE2

We offer to the market this fantastic opportunity to acquire a private converted block of high-end modern apartments with period features and stylish character.

Portland Terrace is situated just outside of Newcastle City Centre and is within walking distance to both Newcastle and Northumbria Universities. The apartments are currently occupied by students and future tenancies are already secured for 2023/24.

The ground floor flat has two double bedrooms; each of which benefit from their own ensuite bathrooms, a guest bathroom, and open plan kitchen/living area. The first floor and second floor apartments both have four double bedrooms, master bathroom, shower room and open plan kitchen/living area. The third floor apartment has three bedrooms; one with ensuite bathroom, master bathroom and open plan kitchen/living area.

Externally there is a small, gated yard to the front of the property, and off-street parking to the rear for multiple cars.

The four bedroom apartments both currently achieve £115pppw, then £110pppw for the three bedroom, and £125pppw for the two bedroom. Based on the current rental incomes (which are subject to increase), a yield of around 9% or higher can be expected.

• Planning permission granted in 2015 for 4nr apartments with C3 use classification
• Flats 2,3 and 4 permanently let on C4 HMO basis from 2015-2024
• Flats 2,3 and 4 Subject to a PCN issued by Newcastle City Council in March 2022
• No further formal action taken to date by Newcastle City Council