Flat for sale in The Midway, Newcastle-Under-Lyme ST5

Nicholas Humphreys present this modern purpose built student studio apartment located in the town centre of Newcastle-under-Lyme. The building is within the Keele University catchment whilst benefiting from being located in heart of the town centre offering a range of amenities for student living.

This upper floor studio apartment provides ideal student accommodation and includes an open plan living space with kitchen area and bedstead, wardrobe and desk. The apartment also includes a shower room and storage.

The Metropolis (or The Met) has a concierge desk at the main entrance with individual post boxes and also offers students communal facilities including seating and study area, laundry room and bicycle storage. A lift as well as stairs provide access to the upper floors.

Offered for sale with tenants in situ on a 51 week term with a Gross income of £151 per week or £7701 per year.

Current rental income £151 per week on 51 week term, total gross income £7701

Council tax band A - students exempt.
EPC rating B

Leasehold 250 years from 1 January 2020.

Service charge approx. £1630 per annum.
Ground rent £300 per annum.

Management fee 8.5% including VAT
Average return approx. 6%.

Images show a similar apartment and are not of the apartment for sale.

EPC rating: B.

Living Space (3.01m x 6.07m (9'11" x 19'11"))

Wooden entrance door

Kitchen Area

Fitted units to wall and base level with work surface and breakfast bar incorporating a stainless steel sink and drainer with mixer tap, 2 ring electric hob, glass splash back, integral fridge, integral microwave, under unit lighting, inset ceiling light points, door to shower room, door to storage.

Living Area

UPVC double glazed window and UPVC double glazed door, wall mounted electric heater, desk, wardrobe, bedstead, inset ceiling light point. Wall light point.

Shower Room

Suite comprising concealed cistern W/C, wall mounted wash hand basin with mixer tap, shower enclosure with folding glazed door and wall mounted mains shower, part tiled walls, wall mirror, shaver point, inset ceiling light point and extractor.

Communcal Facilities

The building includes a main entrance with post boxes, concierge, stairs to upper floors and lift. There are also communal sitting areas, laundry room and bicycle store room.

Agent Notes

Current rental income £151 per week on a 51 week term - Gross income £7710
Council tax band A
EPC rating B
Images show a similar apartment and are not of the apartment for sale.
Service charge approx. £1630 per annum.
Leasehold 250 years from 1 January 2020.
Ground rent £300 per annum.
Management fee 8.5% including VAT.
Averaging a 6% net yield.