WR Complete on £3.8m Student Transaction

Newcastle-based property consultancy Walton Robinson have recently completed the acquisition of a high-end Grade II listed residential investment on St James’ Street, Newcastle City Centre.

Walton Robinson operate throughout the North East with a dedicated investment team based in The Bruce Building, the company’s regional headquarters, on Percy Street in Newcastle. The team act on behalf of investors on a range of acquisitions and disposals as well as providing consultancy services to developers and funds.

 

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5-8 St James Street pictured prior to redevelopment 

5-8 St James’ Street comprises of four terraced houses and has been fully let to student tenants since a large-scale refurbishment project in 2016. Former office space was carefully transformed into twelve contemporary apartments for the student lettings market. The apartments are fully pre-let for the 2018-19 academic year and reflect a net yield of 6.79% for the new owners Chrome Classic Investors, who purchased the development for £3.8m.

 

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Chris Wilkin of Walton Robinson (pictured left) acted on behalf of Chrome Classic Investments to complete the purchase. Daniel Capobasso of Johnson Tucker acted on behalf of the vendors, Tyneside Developments.

Chris commented; “Walton Robinson are delighted to have completed the acquisition of St James Street on behalf of our clients. We were able to act with speed in a competitive market to acquire this outstanding investment asset in the centre of Newcastle.”

 

Get in touch with Chris and the team to find out more about the range of investment and consultancy services Walton Robinson can provide.

 

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