REF_HKI3119

BELOW MARKET VALUE - PORTFOLIO of 20

Newcastle upon Tyne
20 TENANTED PROPERTIES - BMV
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Est. Market Value:

Purchase Price:

Discount:

Currently Tenanted:

Combined Rental Income PCM:

Est. Gross Income PA:

Yield:

£1,421,000

£1,208,000

14%

Yes

£8903

£98,370

9%

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.

 

KEY FEATURES

 

Huge Potential 

Great Locations 

Fully Tenanted

Great Transport Links 

Large portfolio

Fantastic Yeild  

DUE DILIGENCE

NEWCASTLE UPON TYNE 

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FINANCIALS

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We insist any interested parties must satisfy themselves as to the accuracy on any information they receive by carrying out independent assessments or otherwise before making any commitment to participate. Click here for full disclaimer

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Hotkey Invest
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Hotkey Invest,
4 High Street, Wem, Shrewsbury, SY4 5AA
DISCLAIMER
IMPORTANT NOTICE: Hotkey Invest trading name for Hotkey Consultancy Ltd for themselves and for the lessors or vendors of this property whose agents they are give notice that:  1. No appliances, services or service installations have been tested and no warranty as to suitability or serviceability is implied. Any prospective purchaser or lessee is advised to obtain verification from their surveyor or solicitor.  2. The particulars are set out as a general outline only for the guidance of the intended purchasers or lessees and do not constitute, nor constitute part of, an offer or contract.  3. All descriptions, calculations, reference to condition and necessary permissions for use and occupation and other details are given in good faith and are believed to be correct but any intending purchasers or lessees should not rely on them as statements or representation of fact but satisfy themselves by inspection or otherwise as to the correctness of each of them before making any commitment to participate.  Calculations have been rounded up or down accordingly. 4. No person in the employment of Hotkey Invest has any authority to make or give any representation or warranty whatsoever in relation to this property.  5. All rentals and prices are quoted exclusive of Stamp Duty, legal and surveyors fees and any other associated purchasers or lessees costs.  6.  Floor plans are indicative only and should not be relied on.  7. The map showing the boundary of the property postcode is indicative only and has not been checked against the legal title so should not be relied on.  8.  All dimensions, floor areas and site areas are only approximate and should not be relied on.  Dimensions are generally maximum room dimensions.  9. Hotkey Invest is not a regulated or licensed investment or financial advisor, therefore please seek independent financial advice.  10. Hotkey Invest is not a property management company for Serviced Accommodation, House of Multiple Occupation, Buy to Let and other, therefore please seek an independent management company before making any commitment to participate.  11. Hotkey Invest cannot be held liable for any losses whatsoever incurred as a result of any decisions made from relying on this report.