Newcastle upon Tyne is situated approximately 286 miles north of London and
105 miles south of Edinburgh. The city is well connected to the wider national road
network via the A1(M) and A19. The city is a major transport hub and key stop on
the East Coast mainline, with Newcastle having direct rail services to London King's
Cross in 2 hours 50 minutes and Edinburgh within 1 hour 30 minutes. Newcastle
International Airport is situated 7 miles north west of the city centre and serves
in excess of 4.8 million passengers to 80 destinations worldwide. The Tyne & Wear
Metro is a rail network that runs throughout the Tyneside conurbation with three
stations in the city centre as well as in every major commuter location.
Newcastle upon Tyne is the commercial and administrative capital of the North East with a population of approximately 280,000 (census 2011) extending to approximately 1.1 million people across the wider Tyneside conurbation, making it the 7th largest in the UK.
Newcastle is the largest retailing, leisure and office centre in the North East and has an international draw as a business, education and tourism centre. Major occupiers in the city include BSKYB, Sage Group, Barclays Bank and Npower. Newcastle is also a major public-sector hub, not just for local and regional government, but also for national government operations, most notably the Department for Work and Pensions and HM Revenue & Customs.
Hebburn and Burradon are both within a 15 minute drive of the city centre in popular commuter locations.
The properties at Burradon, 37 St Nicholas Way and 56 St Michaels Way
are held Freehold. The apartments at St Nicholas Way, Hebburn are held
on a long leasehold basis with c. 118 years unexpired.
Full information is available in the dataroom.
The four apartments at St Nicholas Way, Hebburn are subject to an annual ground rent of £150 per unit and a service charge of £740.75 per unit, totalling £3,563 per annum.
Further information can be found within the link below.
We are instructed to seek offers
in excess of £1,300,000 subject
to contract and exclusive of VAT.
A purchase at this level reflects a Gross Initial Yield of 7.45%. with a Gross Reversionary yield of 7.89%, reflecting a discount to vacant possession value of 23%.