Studio for sale
Key information
Property description & features
- Tenure: Leasehold (240 years remaining)
- Fully tenanted and managed student studio
- Currently tenanted at £170.00 per week
- Earn £4,086.00 NET rental income per annum
- Close proximity to two leading universities
- Two minutes walk to mainline train station
Pure Investor are delighted to present a tenanted premium student studio for sale in the extremely popular Burgess House, Newcastle.
Located on St James Boulevard, students at Burgess House have the city centre on their door-step and both Northumbria University and Newcastle University are just a 20 minute walk through the city centre.
Burgess House - Investment Highlights
- Purchase for just £56,500
- Tenanted at £170.00 per week (51 weeks)
- 7.2% NET rental yield
- City centre location – popular with students
- Array of on-site facilities
- Large student premium studio
- Close to two leading universities
- Leading student management company
- 51 weeks x £170.00 AST
- Ground Rent: £281.72 per annum
- Service Charge: £3,416.82 per annum
- Lettings Fee: 8.5% plus VAT (£884.34)
- Estimated Completion: Completed
With Newcastle Central Station just around the corner, students can also travel to Sunderland in under 30 minutes. Burgess House is home to 110 students each year, offering a range of residencies, including budget-friendly premium studios, to our spacious deluxe apartments.
Purchase Process
- Reserve unit with a signed reservation form and pay a non-refundable £2,000 reservation fee
- Instruct solicitors
- Balance to be paid on completion (less reservation fee paid)
Places of interest
See more properties like this:
*DISCLAIMER
Property reference PURNEWBURG129. The information displayed about this property comprises a property advertisement. OnTheMarket.com makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and OnTheMarket.com has no control over the content provided by the agent or developer. This property advertisement does not constitute property particulars. The information is provided and maintained by Pure Investor - Pure investor.
OnTheMarket may have applied supplementary data to this property listing, including:
Broadband availability and predicted speed: obtained from Ofcom on April 14, 2023
Broadband speed is measured in megabits per second, with the number returned showing how fast the connection is. Each reading is based on the highest predicted speed of any major broadband network for services that deliver the download speeds. The following are the different readings that we may display:
Basic: Up to 30 Mbit/s
Super-fast: Between 30 Mbit/s and 300 Mbit/s
Ultra-fast: Over 300 Mbit/s
The data is updated three times a year. The checker results are predictions and should not be regarded as guaranteed. For more information, see: https://checker.ofcom.org.uk/en-gb/about-checker#Answer_0_2
Mobile phone signal availability and predicted strength: obtained from Ofcom on April 14, 2023
Mobile signal predictions are provided by the four UK mobile network operators: EE, O2, Three and Vodafone. Predictions can vary significantly from the coverage you may actually experience as a result of local factors (especially terrain). Ofcom has tested the actual coverage provided in various locations around the UK to help ensure that these predictions are reasonable. The values shown against a property can be broken down as follows:
Clear: No bars, no signal predicted
Red: One bar, reliable signal unlikely
Amber: Two bars, may experience problems with connectivity
Green: Three bars, likely to have good coverage and receive a data rate to support basic web services
Enhanced: Full bars, likely to have good coverage indoors and to receive an enhanced data rate to support multimedia services
Energy Performance data and Internal floor area: obtained on June 29, 2023 from The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.
Any supplementary data should not be relied upon as forming part of any property particulars and OnTheMarket cannot be held responsible for any incorrectness in this data. See here for more information.