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North Bank, Otterburn Villas, Jesmond

Guide price £1,300,000

Key Features

  • Investment opportunity with 19 letting rooms
  • Annual income of approx. £96,000
  • Situated in the heart of Jesmond
  • Ideal location for access in Newcastle City Centre

North Bank is set back from Otterburn Villas in the heart of Jesmond. It has immediate access to nearby Clayton Road with its cosmopolitan shops and nearby coffee bars, as well as neighbouring schools and the metro station.

North Bank is a very substantial home which creates a very large rental income of around £96,000 per annum from its 19 letting rooms, which are partially divided into individual units per floor sharing communal facilities. The full plans are available on file of the current layout of the property, which the owner believes shows potential for some further improvement and income from alterations and changes that may be possible.

Some of the letting rooms have been rented at very commercial and low rates, which again the owner believes could be improved upon for the future to give further return and investment potential for the future owners.

The lower ground floor of the property provides three bedrooms, the ground and first floor are mirror images of each other and have five bedrooms to each floor, and the top floor has six bedrooms.

The ground and first floors feature some superb characteristics, including the high ceilings, lovely cornicing, and beautiful doors.

The total income of circa. £96,000 provides a rental yield of around 7.38% on the asking price.

North Bank is a superb property in a great area of which demand is consistently high.

Viewing is strongly recommended on this fabulous residential investment.

Agents note: The adjacent property is called The Porte and this is also available for sale, via the same owner. The Porte is currently lived in as an owner occupier family home, with 6-7 bedrooms, but shows obvious potential to be extended to create up to 19 or 20 bedrooms like North Bank.  If this was to be the case, then both properties adjacent to each other would provide a very good residential income in investment together.

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Key Features

  • Investment opportunity with 19 letting rooms
  • Annual income of approx. £96,000
  • Situated in the heart of Jesmond
  • Ideal location for access in Newcastle City Centre
North Bank, Otterburn Villas, Jesmond

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Ashleigh Sundin

Sales Manager, rare!

Tel 0191 223 3500 | Fax 0191 223 3505. Monday – Thursday 9am – 6.00pm. Friday 9am - 5.30pm. Saturday 9am - 4pm. Sunday 10am - 3pm.

Email Ashleigh

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