Freehold Block With Value Adding Potential
Location: Whitley Bay
With an advised end value of over £700,000 this deal presents investors with several options. There is massive potential for an investor who is ambitious and willing to develop the property in order to maximise their returns.
Currently, the block is fully tenanted and producing £30,732 per annum. However, we feel that this is under-let significantly and there are a couple of options you could explore.
The property is offered at £75,000 below advised market value with huge potential to add value through modernisation works.
Massive rental demand and opportunity to provide high quality serviced accommodation property with potential rental of £60 – £80 per room per night in peak season.
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Please Note: Property values can decrease as well as increase. No express or implied income claims are made herein. Historic performance should not be taken as a guarantee of future performance. Leveraged property investment with mortgage finance can increase the risk of losing money as well as increasing the possible gains.
Sherwood Estate Agency Ltd uses all reasonable efforts to ensure that the property information published on the website and in the investment packs and elsewhere are accurate, current and complete at the date of publication; no warranties or representations are made or implied as to the accuracy of such information.