£110,000
Marsh Box
- 1 bed
£110,000
- 1 bed
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Sales Description:
1 Bedroom Unfurnished Tenanted Apartment - 12 Marsh Box, 2 Marsh Parade, Newcastle, ST5 1FA
Asking Price: £110,000
Service Charge: £871 per year
Ground Rent: £107 per year
Lease Remaining: 242 years
Current Rental Income: £700pcm
Tenancy Start Date: Mid March 2025 on a 12 month agreement
EPC: B
We are pleased to present this fantastic 1-bedroom unfurnished apartment located at 12 Marsh Box, 2 Marsh Parade, Newcastle. This property is currently tenanted, making it an ideal investment opportunity for those looking to acquire a property with an immediate rental income.
Situated in a well-maintained development, this apartment benefits from a prime location close to Newcastle's city centre, offering easy access to shops, restaurants, and transport links. The apartment features a bright and airy living space, a well-sized bedroom, a modern kitchen, and a bathroom, making it a comfortable home for the current tenants.
Key Features:
1 Bedroom
Unfurnished
Tenanted with immediate rental income
Long lease of 242 years remaining
Low ground rent (£107 per year)
Service charge of £871 per year
Current rental income £700pcm
Asking Price: £110,000
Investment Opportunity:
With a long lease of 242 years remaining, this property is a low-maintenance investment option with strong rental potential. The current service charge and ground rent are relatively low, further enhancing the appeal for any potential investors. The property is already generating a consistent rental income, providing peace of mind for investors seeking immediate returns.
Rental Income
Gross Yield Calculation:
Annual Rental Income = £700 x 12 = £8,400
Gross Yield = (£8,400 / £110,000) x 100 = 7.6%
Annual Service Charge = £871
Annual Ground Rent = £107
Total Costs = £871 + £107 = £978
Net Rental Inc (£7,422 / £110,000) x 100 = 6.7%
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