Skip to main content

£3,080,000 offers in excess of

74 bedroom block of apartments for sale

Elswick Road, Newcastle Upon Tyne

£3,080,000 offers in excess of

74 bedroom block of apartments for sale

Elswick Road, Newcastle Upon Tyne

Description

Back

Property features

  • Freehold Grade II Listed Building
  • 1,293.40 Sq M / 13,922 Sq Ft
  • 72 Bedrooms: 14 Cluster Apts & 2 Studios
  • Newly Refurbished in 2018
  • Guaranteed Rental Income 2018-19 Academic Year
  • Affordable Student Accommodation
  • Attractive Alternative to Premium PBSA Rent
  • University & College Campuses Easily Reached
  • Regular Bus Services into City Centre
  • EPC Rating E

Property description

AFFORDABLE STUDENT ACCOMMODATION // SEVENTY TWO CLUSTER BEDROOMS // TWO STUDIO APARTMENTS // GUARANTEED INCOME FOR 2018-19 ACADEMIC YEAR // REFURBISHED IN SUMMER 2018 // FREEHOLD

Description - Elswick Court is a Grade II Listed building originally constructed in the early 1800's and consisting of brick walls with a pitched slate roof. There is a rear courtyard and car park to the front of the building, which is accessed via remote controlled gate and keypad activated pedestrian gate.

The building was converted from office use into student accommodation in 1992. Elswick Court has been recently refurbished by the current owners. There are seventy-two bedrooms across a range of cluster apartments, ranging between three and eight bedrooms, communal kitchen/dining areas and shared bathrooms. There are also two en-suite studio apartments with fitted kitchen areas.

Location - Elswick Court is located on Somerset Place, just off Elswick Road, a main arterial route to the west of Newcastle city centre.

One mile west of Newcastle city centre, the accommodation is easily accessible via local bus services.

Students can reach Newcastle or Northumbria University City Campuses, Newcastle Business school or Newcastle College on foot, bike or via regular public transport links.

Nearby Westgate Road is home to restaurants, takeaways and convenience stores. Bus services provide access to a range of amenities including an Asda Supermarket.

Newcastle Helix (formerly known as Science Central) is also close by. This landmark 24-acre site for international technology and science businesses is in development with significant investment from Legal & General.

The site aims to become a global centre for urban innovation in the heart of the city with the local area set to benefit.

Tenancies - Elswick Court is effectively vacant at present, following completion of recent refurbishment works throughout the site.

Tenant marketing strategies for the 2019-2020 academic year as well for immediate occupation are now under way.

The property offers newly refurbished and affordable student accommodation close to Newcastle City Centre.

This will appeal to students looking for private halls style accommodation and the ease of bills-inclusive rent, but without the premiums charged by new-generation Purpose Built Student Accommodation (PBSA).

The vendor is offering a guaranteed rental income for this intervening period before the 2019-20 academic year by way of quarterly payments in arrears from funds held in escrow.

Management - Walton Robinson has been appointed as the block management agency for Elswick Court. Our professional property management team have the knowledge, experience and in-house support to ensure smooth running of the development for both the tenants and the landlord.

Proposal - Offers in excess of £3,080,000 (Three Million and Eighty Thousand Pounds) reflecting a low capital value of £42,777 per bed.

Further Information & Viewings - Contact sole selling agent Walton Robinson

Chris Wilkin
[use Contact Agent Button] [use Contact Agent Button]

Richard Ponton
[use Contact Agent Button]
[use Contact Agent Button]

Property information from this agent

See more properties like this:

Map

Back

Nearby services within a 3 mile radius

Stations
Schools
Food stores
Health

Street view is not available at this location

Floor plans

Back
Call 0191 563 0819

DISCLAIMER

Property reference 28349698. 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. This property advertisement does not constitute property particulars. The information is provided and maintained by Walton Robinson - Newcastle upon Tyne. Please contact the selling agent directly to obtain any information which may be available under the terms of 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.

Call rate information

Calls to 0843 numbers will be charged at 4p/min from BT landlines. Calls from other networks may vary, and calls from mobiles and outside the UK will be higher. Calls to local numbers beginning with 01, 02 and 03 numbers will incur standard geographic charges from landlines and mobiles.

Contact Walton Robinson - Newcastle upon Tyne about 74 bedroom block of apartments for sale £3,080,000

Type of enquiry

Characters remaining:

OnTheMarket can contact me with relevant properties, offers and news

By submitting this form, you accept our privacy policy. Your personal data will be sent to Walton Robinson - Newcastle upon Tyne so that they can respond to your request.

NAEA Propertymark (National Association of Estate Agents) is the UK's leading professional body for estate agency. Our members practise across all aspects of property both in the UK and overseas, including residential and commercial sales and letting, property management, business transfer, auctioneering and land.