4 Apartments within a prominent Georgian building

A strong investment proposition combining rental income from 4 residential apartments, along with service charge & ground rents generated by the remaining apartments and cottage within the development. Four two-bedroom apartments included in the sale generate an annual rental of £28,000 and comprise of 2 ground floor apartments and two duplex apartments, all offered with double glazing and electric heaters, allocated off street parking and use of the stunning communal orangery. Two further apartments and cottage provide an income of £300pa ground rent and £3,000pa contribution to management charges total income of £32,100 produces a gross yield of 7.1%. The Hermitage is in a prominent position within old Whickham village,its close proximity to local amenities, shops, bars and restaurants and is 5 miles South West of Newcastle and Nearby A1, Gateshead and the Metrocentre. Viewings by appointment only.

Tenure

See Legal Pack

Entrance & Hallway

A private road leads to the building with the communal entrance reached via a block paved path leading into the main hall with stairs and stair lift to the first floor.

Apartment 2

Spacious and light ground floor apartment with front aspect, inner hallway leads onto two bedrooms and bathroom. Hallway to open plan kitchen and living room over looking the mature gardens.

Apartment 3

Located on the first floor above apartment two and replicates this ground floor apartment layout and finish, the higher elevation offers enhanced views of the communal gardens.

Apartment 5

This duplex apartment is accessed via the ground floor and offers two bedrooms and bathroom to the ground floor and internal stairs lead up to the living room and adjoining kitchen. Both upper floor rooms have a South Easterly aspect.

Apartment 6

Located to the rear of the building this apartment is set over 2 floors. Private apartment door is reached from the communal hallway leading onto an internal hallway to both bedrooms and bathroom. The master bedroom covers the width of the apartment maximising the feeling of space. Internal stairs opposite the entrance lead to upstairs where you have the kitchen and the South East facing living room.

The Orangery

The communal orangery with french doors leading to the rear has electric heaters and wooden flooring.

External

The gate provides access to the footpath in the front gardens with a variety of shrubs, trees and lighting along with the off street allocated parking.

Viewing

Please telephone 0191 9089691 - Open viewing by appointment 31st May and 5th June.

Energy Efficiency Rating (EPC)

Current Rating E

Services

Interested parties are invited to make their own enquiries to the relevant authorities as to the availability of the services.

Local Authority

Newcastle upon Tyne City Council

Solicitors

ONeill Richmonds Law Firm Ltd, 1-2 Lansdowne Terrace East,, Gosforth, Newcastle upon Tyne, NE3 1HL, Ref: Michael Baker, Tel: 0191 2464000 ext2035

Additional Fees

Administration Charge - £720 inc VAT payable on exchange of contracts.

Disbursements - Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.

Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.