Property photos
Freehold
Offers in region of
£900,000
(£93.00/sq. ft)
Property for sale
Front Street, Earsdon, Whitley Bay NE259,677 sq. ft
Local area information
Property location
Nearby amenities
- Wellfield Middle School 0.4 miles
- South Wellfield First School 0.4 miles
- North Shields Ferry Terminal 3.6 miles
- South Shields Ferry Terminal 4 miles
These distances are calculated in a straight line. The actual route and distance may vary.
Features and description
- Freehold
- Residential Investment Opportunity
- Popular affluent village centre location
- Comprising 12 flats
- Let to private individuals
- Guide Price £900,000
- Current passing rent of £75,180 per annum
- Net initial yield of 7.78%
Description
The property comprises a former care home which was granted change of use of in 2016 to create 12 self contained apartments, over ground and first floors. The use of the flats was to provide supportive living for elderly and physically disabled, however they are now let to private individuals by way of Assured Shorthold Tenancy Agreements.
Each of the flats comprise 1 bedroom (with the exception of flats 4 and 9 which have 2 bedrooms), a kitchen, lounge and bathroom. The building provides lift access to the first floor, and to the ground floor provides a communal lounge, conservatory, communal kitchen and an external courtyard area for the residents. The first floor comprises WC facilities, a guest bedroom, office and linen store.
Location
The subject property is located on Front Street in Earsdon. Earsdon is a village in North Tyneside, situated between Shiremoor, Whitley Bay and Holywell.
Earsdon is accessed by the A192, linking with the A1058 (Coast Road) to the south and the A186 which provides direct access to the A19 to the west. The North Tyneside coastline is less than 2 miles away. Earsdon is serviced by local bus routes, providing access to Whitley Bay and Newcastle city centre.
The property comprises a former care home which was granted change of use of in 2016 to create 12 self contained apartments, over ground and first floors. The use of the flats was to provide supportive living for elderly and physically disabled, however they are now let to private individuals by way of Assured Shorthold Tenancy Agreements.
Each of the flats comprise 1 bedroom (with the exception of flats 4 and 9 which have 2 bedrooms), a kitchen, lounge and bathroom. The building provides lift access to the first floor, and to the ground floor provides a communal lounge, conservatory, communal kitchen and an external courtyard area for the residents. The first floor comprises WC facilities, a guest bedroom, office and linen store.
Location
The subject property is located on Front Street in Earsdon. Earsdon is a village in North Tyneside, situated between Shiremoor, Whitley Bay and Holywell.
Earsdon is accessed by the A192, linking with the A1058 (Coast Road) to the south and the A186 which provides direct access to the A19 to the west. The North Tyneside coastline is less than 2 miles away. Earsdon is serviced by local bus routes, providing access to Whitley Bay and Newcastle city centre.
More information
Listed by
Sanderson Weatherall
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