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£750,000
Bedrooms
Bathrooms
Introducing a rare & unique investment opportunity on Akenside Terrace, a five-bedroom property divided into three separate apartments, located in the sought-after area of Jesmond. This vibrant suburb lies close to Newcastle City Centre and Jesmond Dene Park, boasts a mix of bars, restaurants, and shopping options for all tastesfrom charming boutique stores to popular supermarkets. The area features a diverse range of properties, from Victorian homes and converted flats to modern developments and stylish apartments.
This property briefly comprises an entrance lobby with a secure intercom system. The communal hallway provides access to stairs leading to all floors, which then give access to each of the apartments.
The ground floor duplex apartment spans two levels and includes a lounge, kitchen/dining area, two bedrooms with en-suites, a utility room, and a separate WC.
The first-floor apartment features a living room, kitchen, two bedrooms, a shower room, and a bathroom.
The top-floor apartment offers a living room, kitchen, one bedroom, and a bathroom.
Externally, the property has a block paved forecourt at the front and a private yard at the rear, with access to the back lane.
The property benefits from double glazing and gas central heating.
Current Rentals:
Flat A Currently advertised at 1,500 per month (18,000 per annum)
Flat B Tenanted until 16.09.2025 at 1,100 per month (13,200 per annum)
Flat C Tenanted until 19.07.2025 at 775 per month (9,300 per annum)
Viewings are highly recommended to fully appreciate the accommodation on offer.
Please Note: Any interested parties should be aware that the owner of this property is associated with Mansons Property Consultants.
Your property may be repossessed if you do not keep up repayments on your mortgage.
Monthly Payment: £ 8,216.87
Monthly Payment: £ 8,216.87
Monthly Payment: £ 8,216.87
Amortization For Monthly Payment: £8,216.87 over 30 years ( Based on 3.20% Interest )
Using your investment as a 25.00% deposit and £ 5,833 in costs for purchasing and getting ready to let.
Stamp Duty is a tax paid on completion via your solicitor, the calculation includes the 3% surcharge for second homes.
Your home may be repossessed if you do not keep up repayments on your mortgage.
The refurbishment budget is set to 2.50% of the purchase price, but this will vary dependent on the suitability of the property for the rental market. Select a value that you feel is appropriate to the condition of the property.
This will vary between lenders, type of report and whether or not you are buying with a mortgage, for advice on which type of survey would be appropriate speak with an advisor from Preston Baker Financial Services.
Lenders will often charge a fees for the arrangement of a mortgage, for advice on what lenders may charge, speak with an advisor from Preston Baker Financial Services. Your home may be repossessed if you do not keep up repayments on your mortgage.
This is the sum of mortgage admin, land registry, search, bank transfer and any other fees incurred.
Purchase costs include assumed mortgage and survey costs which are estimated. For a quote contact a Preston Baker Financial Services mortgage advisor who can provide you with current and accurate information. The stamp duty calculation has applid the 3% stamp duty surcharge on the basis that this will be a second property.
The mortgage is assumed to be interest only. Your home may be repossessed if you do not keep up repayments on your mortgage.
This is the percentage of the rent that you will spend maintaining the property.
Ground Rent only applies to leasehold properties. This is an assumed ground rent, the confirmed figure can be found in the Property Information Questionnaire.
Service charge only applies to leasehold properties. The correct figure can found in the Property Information Questionnaire answered by the seller.
This is a standard, indicative figure only. Properties that have a service charge often have this included withing that charge. Please consult the Property Information Questionnaire for more information.
Final Equity Profit = Final Property Value - Mortgage Required - Investment
Cumulative Rental Profit = Annual rental profit x Time of Investment
This is the assumed rate of house price inflation.
This is the property value at the end of the investment based on an assumed rate of % house price inflation.
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