Apartments in George House, Jesmond, have let over three months ahead of last year, according to Newcastle-based Walton Robinson.
The four apartments on Osborne Avenue have all been snapped up ahead of the university Christmas break, as demand for properties in Jesmond increases.
The apartments have seen a rental increase of just over 5%, with little to no spend on improvements from the landlord.
Property Landlord, Mr Belgian said: “This year Walton Robinson managed to let all four flats at George House much earlier than last year and with an increase in rent.
“I was really pleased to see that once again the challenges Walton Robinson has faced hasn’t affected their ability to market and let properties, which is reassuring for me as a managed landlord.”
Jesmond is an extremely popular areas for landlords looking to invest in property in Newcastle upon Tyne, due to its reputation and attractiveness with students.
With more students attending Newcastle’s universities this year, the agency has seen a significant increase in the amount of enquiries and subsequent lets, particularly in popular student areas such as Jesmond, Heaton and Sandyford.
Properties in these areas are highly sought after, due to their proximity to the City Centre and are therefore ideal for both students and professional renters, providing a stable return on investment. More often than not there is waiting list of potential tenants.
Lettings Manager, Kyle Dickson, said: “We’re really pleased that we’ve managed to let these properties so far in advance of last year and with a decent uplift in rent.
‘’We’ve seen a massive increase in demand for properties for the 2022/23 academic year, and the apartments in George House are no exception.’’
Walton Robinson specialise in residential lettings for students, professionals and families in and around the Newcastle area, and those wanting to invest, buy, sell or develop property anywhere in the North East.
The Lettings and Estate Agent provides landlord property management services in Newcastle upon Tyne and surrounding areas, including let only, full property management and facilities management services.
For more information, or if you would like to discuss renting or investing with us, call 0191 243 1000, or visit our Percy Street office.