3 bed flat for sale

London Road, Newcastle-Under-Lyme ST5

Nicholas Humphreys present three studio student buy to let apartments each with a private balcony with an average potential yield of 8.5%.

One London Road is a modern development of purpose built investment apartments, with an range of on site facilities including communal lounge, gym, court yard and garden, disabled access, bike storage and more Within the Keele University catchment area the apartments can be let to students or employees of the Royal Stoke University Hospital.

These three studio apartments are ideal for landlords looking to grow their portfolio.

The apartments:

Number 39, first floor apartment. Gross income approx. £9,900 for 2023/2024 on a 51 week term (195 per week) This year to be confirmed.

Number 40, first floor apartment. Gross income approx. £9900 for 2023/2024 on a 51 week term (195 per week) This year to be confirmed.

Number 41, first floor apartment. Gross income approx. £8,700 for 2023/2024 on a 51 week term (£172 per week) This year to be confirmed.

Charges

Service charge: Service charge approx £1200 per annum. Per apartment. Note the service charge is paid out of the assured rent period. Service charges are based on actual costs incurred in each quarter and pooled with other investors

Ground Rent £350 per annum per apartment

Management fee Gross 5.5% plus VAT.

Each apartment is on its own title.

Tenure: Leasehold.

Apartment 39

First floor studio apartment with open plan living space with balcony, kitchen area and shower room.

Apartment 40

First floor studio apartment with open plan living space with balcony, kitchen area and shower room.

Apartment 41

First floor studio apartment with open plan living space with balcony, kitchen area and shower room.

Agent Notes

Service charge: Service charge approx £1200 per annum. Per apartment. Note the service charge is paid out of the assured rent period. Service charges are based on actual costs incurred in each quarter and pooled with other investors

Ground Rent £350 per annum per apartment

Management fee Gross 5.5% plus VAT.

Each apartment is on its own title.

Tenure: Leasehold. Leasehold 125 years from 5 March 2021.

Council tax - students exempt.