MapMixed use for sale
Key information
Features and description
- Freehold student housing investment
- Comprises 58 letting rooms
- Close to Newcastle University and Northumbria University (approximately 57,000 students)
- Approximately 1,830 sq m (19,691 sq ft) GIA
- Includes two ground floor commercial units
- Producing £331,591 per annum (plus 5 vacant units)
- Erv £340,000
A three storey former commercial building that has been converted to provide student accommodation providing 58 letting rooms arranged as a mix of shared apartments and studio accommodation. Additionally there are communal living room areas and kitchen facilities.
On the ground floor there are two commercial units one of which currently trades as a mini supermarket and the other as a hot food takeaway.
Location:
Newcastle upon Tyne lies on the north bank of the River Tyne approximately 19 miles north of Durham and 13 miles north west of Sunderland. It can be accessed via the A167(M) and A184, which links to the A1 at junction 69 to the south west of the city centre. Newcastle Central railway station provides national and regional rail links and Manors railway station lies within two minutes' walk of the property providing regional rail links. Additonally numerous bus routes serve the area and Newcastle Airport lies approximately 7 miles to the north west of the city centre.
Newcastle upon Tyne is home to two universities, these being Newcastle University (approximately 27,000 students) and Northumbria University (approximately 30,000 students).
Stepney Lane lies on the south east side of the city centre running south west from New Bridge Street. The property lies on the north side of the road near its junction with Gibson Street in a mixed commercial and residential area and within a few minutes' walk of Northumbria University.
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