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£255,000

1 bedroom property for sale

Clayton Street, Newcastle upon Tyne, Tyne and Wear, NE1 5PZ
Property
1 bed
100 sq ft / 9 sq m
EPC rating: E
Added > 14 days

Key information

TenureLeasehold
Council taxAsk agent

Features and description

  • Tenure: Leasehold
  • 3 x Self Contained 1-Bed Apartments
  • Tenanted at £19,800 per annum
  • City Centre Location
  • Grade II Listed
  • Leasehold 999 yrs
  • 8.75% Return
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 8.75%.

Rooms

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 approximately £19,800 (£550 per calendar month) on tenancies ending on August/September 2023.

EPC
Available upon request (rating G).

About this agent

Pattinson - Commercial
Pattinson - Commercial
2 Hill Street, Gateshead Tyne and Wear NE8 2AS
0191 392 0913
Full profileProperty listings
Pattinson Estate Agency is an award-winning family-run business that was Launched in 1977 on Independence Day. This is no coincidence, as independence is central to our company ethos. We are the most recognised estate agency in the North East, and in that time we have grown from 1 office to 28, with 300 members of staff, and we officially sell more properties in the North East, than any other estate agency. However, we don’t just sell houses! Our many property services include sales, lettings (property management), auction, commercial, financial services, conveyance and surveys, and we have it all under one roof! We can be contacted 6 days a week at extended hours, as we have a dedicated Regional Team who take the overspill calls from our 28 branches, so all client relationships are built and maintained. At Pattinsons, we are innovative leaders in the property industry, with pro-active selling, a reliable reputation, and substantial repeat business. Our national secure sale department, ‘Pattinson Auction’, was launched 33 years ago, and is going from strength to strength. As serious players in the field of digital marketing, we successfully utilise the social media platforms TikTok, Facebook and Instagram as part of our extensive marketing process. We have a wealth of knowledge and an expansive network to help find the best solution for you and your property requirements. You can trust Pattinsons, the North East’s leading estate agency.
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