BELOW MARKET VALUE - PORTFOLIO of 20
Est. Market Value:
Combined Rental Income PCM:
Est. Gross Income PA:
Hotkey Invest are proud to offer for sale, this fantastic portfolio of 20 properties all currently tenanted, located in Newcastle Upon Tyne.
The portfolio comprises a mixture of apartments and houses, all currently tenanted to a mixture of social and private sector tenants. *Any continuation of tenancy must be negotiated between the new owner and tenant.
The portfolio has a estimated value of £1.42 million, and is being offered for sale with the offers in the region of £1.2 million.
The rents have not been raised on these properties for some time. We believe due to the high demand in rental properties in the area, these could be raised by c. 10%.
We estimate that roughly 40% of the properties are with a council contract for social housing.
The portfolio is currently self managed. The current owners are happy to do a 2 month hand over to the new owner or an agent of your choice.
The apartments in the portfolio are Tyneside flats. Typically they consist of a 2 bed ground floor apartment and 3 bed first floor apartments.
They are not the typical type of flat / apartment found in the rest of England and Wales where flats are Leasehold and then there is a third party Freeholder .
Each apartment owns a share of the Freehold, so there is never a third party freeholder .
The Freehold and Leases are typically 999 years with over 900 years left to run. The conveyancing process will confirm the exact terms remaining.
Some of the "pairs " of flats are actually on one Freehold.
For a full list of purchase prices and discounts please see the spreadsheet below.
Newcastle upon Tyne is a university city on the River Tyne in northeast England. With its twin city, Gateshead, it was a major shipbuilding and manufacturing hub during the Industrial Revolution and is now a centre of business, arts and sciences. Spanning the Tyne, modern Gateshead Millennium Bridge, noted for its unique tilting aperture, is a symbol of the 2 cities.
More Information and photos are available upon request
Please speak to a member of the Hotkey invest Team.
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