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
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Broadband availability and predicted speed: obtained from Ofcom on April 14, 2023
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Super-fast: Between 30 Mbit/s and 300 Mbit/s
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Mobile phone signal availability and predicted strength: obtained from Ofcom on April 14, 2023
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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 April 20, 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.
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