Dunholme Road, Benwell, Newcastle... 1 bed property for sale

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Dunholme Road, Benwell, Newcastle... 1 bed property for sale

Dunholme Road, Benwell, Newcastle upon Tyne, Tyne and Wear, NE4 6XE
£1,600,000

Our Summary

  • For sale by Unconditional Auction Terms and Conditions
  • We are delighted to bring to Auction this substantial freehold block of apartments ideally situated on the outskirts of Newcastle City Centre approximately 1
  • Having been expertly managed by Northwood Estate Agents for the current landlord we have been advised that there is potential to divide (STPP) 3 of the larger apartments into additional units

Description

This substantial freehold block of apartments is situated on the outskirts of Newcastle City Centre, approximately 1.5 miles west of the city centre. The property, originally constructed as sheltered accommodation, comprises 27 self-contained flats, including studio, one, two, and three-bedroom apartments, with a total gross internal area of 1,444 square metres. The property is mostly let, generating an annual income of around £180,000, although this may fluctuate if properties become vacant or more are let. The property also features gardens, store rooms, a boiler room, nine parking spaces, and one integral single garage currently used as storage/workshop. With potential to divide three of the larger apartments into additional units (subject to planning), this property presents a unique investment opportunity.