No longer on the market
This property is no longer on the market
Map21 bedroom block of apartments
Sold STC
Block of apartments
21 beds
7 baths
Key information
Features and description
- Freehold HMO Block
- 15 Bedrooms over Four Units
- £99,580pa rent for 2021-22
- 7.67% Gross Yield
- 1no. 4 Bedroom House
- 1no. 5 Bedroom House
- 2no. 6 Bedroom Houses
- Licensed HMOs
- Comprehensive Full Rental History
- EPC Ratings C-D
A tenanted block of 4 HMO houses located in Sandyford, ideal for Newcastle University students. The block is fully pre-let for the 2021-22 academic year providing an annual income of £99,580pa.
Situation - The property is located in Sandyford off Grantham Road in Sandyford, a popular student rental area to the east of Newcastle city centre, also home to several popular independent bars, restaurants and coffee shops. Jesmonds central retail and entertainment parade on Osborne Road and Acorn Road is a short walk away.
Sandyford continues to be a popular location for many students studying in Newcastle thanks to its enviable reputation for offering the perfect mix of lifestyle, convenience and access to the city centre and its Universities. The HMO market in Sandyford traditionally offers prime rents which have benefitted from strong growth in recent years owing to its increase in popularity and location close to Northumbria University and walking distance to both the city centre and Jesmond.
Newcastle Student Market - With in excess of 42,000 full time students across the two world-renowned universities, the student rental market in Newcastle remains as buoyant as ever and continues to attract new investors, drawn in by the strong and reliable income it generates. After much new development in the city centre, catering mainly for International Students, Newcastles most convenient suburbs continue to enjoy outstanding occupancy rates from domestic students, along with sustained increases in rents year on year.
The Student Accommodation market continues to thrive as more and more investors appreciate the counter-cyclical nature of the asset class. In times of recession and fewer employment prospects, many turn to higher education to improve their employability, which has the direct effect of increasing the demand for accommodation around universities.
Houses In Multiple Occupation - Whilst much focus on recent years has been on the rise of Purpose-Built Student Accommodation as an asset class, demand for HMO format has continued to surge. The introduction of the Article 4 Direction by the Citys Council has in effect ring-fenced the supply of HMOs meaning that the competition between tenants wanting to experience Jesmond life has intensified, forcing rents upwards. Despite strict licensing and increasing regulation, investing in HMOs continues to show very strong and predictable returns.
Secure Rental Income - Many HMOs are let to groups of friends on a single Assured Shorthold Tenancy agreement, and as such each tenant is joint and severally liable for the total value of the agreement. Each tenants liability is usually also backed up by a Guarantor typically parents who are homeowners, who are legally obliged to cover the rent if any of the tenants default
Pre-Booking - Many HMOs in Sandyford are pre-booked before Christmas for tenancies starting in the next academic year. This can be between 6-10 months before the current agreement is due to expire. This certainty of income ensures voids are kept to an absolute minimum, and a such full rental income is generally expected for 360+ days of the year.
Additional Information - All certificates relating to Gas, Fire and Electrical Safety, as well as Licensing documents and Tenancy documents are held within our Data Room and will be made available to the purchaser at the appropriate time.
Floor plans and Video Tours are available on request
Epc Ratings - Ratings C - D
Situation - The property is located in Sandyford off Grantham Road in Sandyford, a popular student rental area to the east of Newcastle city centre, also home to several popular independent bars, restaurants and coffee shops. Jesmonds central retail and entertainment parade on Osborne Road and Acorn Road is a short walk away.
Sandyford continues to be a popular location for many students studying in Newcastle thanks to its enviable reputation for offering the perfect mix of lifestyle, convenience and access to the city centre and its Universities. The HMO market in Sandyford traditionally offers prime rents which have benefitted from strong growth in recent years owing to its increase in popularity and location close to Northumbria University and walking distance to both the city centre and Jesmond.
Newcastle Student Market - With in excess of 42,000 full time students across the two world-renowned universities, the student rental market in Newcastle remains as buoyant as ever and continues to attract new investors, drawn in by the strong and reliable income it generates. After much new development in the city centre, catering mainly for International Students, Newcastles most convenient suburbs continue to enjoy outstanding occupancy rates from domestic students, along with sustained increases in rents year on year.
The Student Accommodation market continues to thrive as more and more investors appreciate the counter-cyclical nature of the asset class. In times of recession and fewer employment prospects, many turn to higher education to improve their employability, which has the direct effect of increasing the demand for accommodation around universities.
Houses In Multiple Occupation - Whilst much focus on recent years has been on the rise of Purpose-Built Student Accommodation as an asset class, demand for HMO format has continued to surge. The introduction of the Article 4 Direction by the Citys Council has in effect ring-fenced the supply of HMOs meaning that the competition between tenants wanting to experience Jesmond life has intensified, forcing rents upwards. Despite strict licensing and increasing regulation, investing in HMOs continues to show very strong and predictable returns.
Secure Rental Income - Many HMOs are let to groups of friends on a single Assured Shorthold Tenancy agreement, and as such each tenant is joint and severally liable for the total value of the agreement. Each tenants liability is usually also backed up by a Guarantor typically parents who are homeowners, who are legally obliged to cover the rent if any of the tenants default
Pre-Booking - Many HMOs in Sandyford are pre-booked before Christmas for tenancies starting in the next academic year. This can be between 6-10 months before the current agreement is due to expire. This certainty of income ensures voids are kept to an absolute minimum, and a such full rental income is generally expected for 360+ days of the year.
Additional Information - All certificates relating to Gas, Fire and Electrical Safety, as well as Licensing documents and Tenancy documents are held within our Data Room and will be made available to the purchaser at the appropriate time.
Floor plans and Video Tours are available on request
Epc Ratings - Ratings C - D
Property information from this agent
About this agent
Seekers Property - Newcastle upon Tyne
101 Percy Street
Newcastle upon Tyne, Tyne & Wear
NE1 7RY
0191 563 0819For over twenty years, we were known as Walton Robinson. Over the years, our services and focus have changed and as a progressive company, a new name seemed like the best way to move our company forward in order to remain fresh and current. As an established company with two decades’ worth of experience, the Seekers name simply built on our existing equity and continued to position us as the authority on North East property. We are independent property experts in the North East. Our local and regional insider knowledge means we know this area like the back of our hand and with decades of experience in the property market, our dedicated team is here to guide you through the entire process