Forth Place Newcastle upon Tyne, 24 Bedrooms Block of flats ,For Sale

Forth Place, City Centre

Block of flats | Freehold City Centre Investment Opportunity

Offers In Excess Of £1,850,000

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24 Bedrooms
12 Reception Rooms
12 Bathrooms
  • Investment Opportunity
  • Unbroken Freehold
  • 12 Residential Units
  • 8 Garages
  • £129,859pa Rental Income 2019/20
  • EPC Ratings C - D

An unbroken freehold block of twelve residential apartments and eight garages, currently fully let producing a gross rental income of £129,859pa for the 2019/20 letting period.

Energy Efficiency Rating

Current
Potential
1
1
(92+)
A
(81-91)
B
(69-80)
C
(55-68)
D
(39-54)
E
(21-38)
F
(1-20)
G

CO2 Rating

Current
Potential
1
1
(92+)
A
(81-91)
B
(69-80)
C
(55-68)
D
(39-54)
E
(21-38)
F
(1-20)
G

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Description

An unbroken freehold block of twelve residential apartments and eight private garages, projected to achieve an income of £129,859pa for the 2019/20 academic year. Two communal entrances provide access to the property from the Thornton Court elevation with secure telephone entry systems to all apartments. The property comprises of 1no. 1-bedroom apartment, 10no. 2-bedroom apartments and 1no. 3-bedroom apartment. There are also 8 self-contained garages which are fully let. The property originally dates to 1919 as a dairy and was converted to residential apartments in the late 1990’s, and recently all kitchens and bathrooms within the development have been refurbished by the current owner. It is set out over three levels with residential accommodation at raised ground, first and second floors, built of brick construction with part pitched slate and part flat roof. There is a roof terrace accessible only to Flat 9 and internal courtyard accessible to Flats 2 and 3. Each apartment has its own boiler providing gas-fired central heating, each kitchen is fitted with integrated appliances including electric hob & oven, fridge-freezer and washing machine.

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