St. James Boulevard, Newcastle Upon Tyne

Property Details: - Type: Apartment - Bedrooms: 1 - Bathrooms: 1

Agent: Rent North East - Gateshead Phone: 0191 392 0343

<strong>Studio Apartment, Burgess House, St James Boulevard, Newcastle upon Tyne - Fantastic Yield!<br/></strong><br/><strong>Overview<br/></strong>Located on the second floor of Burgess House, this compact studio apartment provides practical, self-contained accommodation in a highly central Newcastle position. Set on St James Boulevard, the property is within easy reach of Newcastle Central Station, the universities and the city’s core retail and leisure districts. The apartment is currently let and presents a straightforward turnkey investment, with sustained demand for studio accommodation in this part of the city.<br/><br/><strong>The Accommodation<br/></strong><br/>The apartment extends to approximately 236 sq ft and is arranged as an open-plan living and sleeping area with kitchenette, alongside a separate shower room. The property benefits from double glazing, electric space heating and hot water provided via the building’s communal system.<br/><br/><strong>Tenure and Title<br/></strong><br/>The property is held on a long leasehold of 250 years from 3 October 2014, leaving approximately 239 years unexpired. Title number TY522133.<br/><br/><strong>Investment Summary<br/></strong><br/><strong>Estimated Purchase Costs:<br/></strong>Stamp Duty: £2,000<br/>Legal Fees: £1,500<br/>Survey: £500<br/><strong>Total Capital Required: </strong>approximately £44,000<br/><br/><strong>Passing Rent and Yield<br/></strong><br/>Current Rent: £175 per week<br/>Equivalent to approximately £758 pcm or £9,100 per annum<br/><br/>Gross Yield: approximately 22.75 percent<br/><br/><strong>Annual Fixed Costs:<br/></strong>Service Charge: £3,318.30<br/>Ground Rent: £379.28<br/><br/><strong>Other Assumed Costs:<br/></strong>Insurance: £360 per annum<br/>Management Fee: 12 percent of rent<br/>Maintenance Allowance: 10 percent of rent<br/><br/>Total Estimated Annual Expenses: approximately £6,059.54<br/><br/><strong>Net Income<br/></strong><br/>Estimated Annual Net Income: approximately £3,040<br/>Estimated Monthly Net Income: approximately £253<br/><br/>Net Yield (on £40,000): approximately 7.6 percent<br/>Return on Capital Employed: approximately 6.9 percent<br/><br/><em><strong>Important Note<br/></strong><br/>All figures are indicative and based on supplied information and standard assumptions. Actual returns may vary depending on management arrangements, maintenance requirements, void periods and future changes to service charges or rents. Buyers should satisfy themselves as to all figures prior to exchange of contracts.<br/><br/></em><strong>Outgoings<br/></strong><br/>The most recent service charge budget for the 2025 to 2026 year totals £3,318.30 per annum, with ground rent payable at £379.28 per annum. Combined fixed annual costs therefore stand at approx £3,697.58.<br/><br/><strong>Management and Building Information<br/></strong><br/>The building is managed by StudentFM on behalf of the Right to Manage company. Recent management updates include a reversion to floor-area apportionment for service charges, the introduction of a group electricity supply contract with EDF to reduce costs, and an existing building-wide broadband contract. A compartmentation survey has been commissioned and budgeted for, with no additional levies raised in the documentation supplied.<br/><br/><strong>Compliance and Documentation<br/></strong><br/>An EWS1 form is in place with a B1 rating, confirming that fire risk is sufficiently low and no remedial works are required. The form is dated 28 May 2024 and completed in accordance with the RICS third edition guidance.<br/><br/>The property holds an EPC rating of D with a score of 62, with potential to improve to a C rating of 72. The EPC is valid until 30 August 2030. An Electrical Installation Condition Report is also in place for the apartment.<br/><br/><strong>Additional Information<br/></strong><br/>Council Tax Band A.<br/>Internal floor area approximately 236 sq ft or 22 sq m.<br/><br/><em>All financial figures and property details have been taken from the seller’s documentation and managing agent papers and are provided in good faith. Purchasers are advised to verify all information through their legal representatives during the conveyancing process, including lender requirements in relation to the EWS1 certification.<br/></em><br/><br/>Council Tax Band: D<br/>Tenure: Leasehold<br/>Lease Years Remaining: 239<br/>Ground Rent: £379.28 per year<br/>Service Charge: £3318.30 per year