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Aparthotel

Newcastle Upon Tyne £429,995 Virtual freehold REF: NE1053

Location

This Aparthotel is located within the pleasant suburb of Sandyford close to the junction of Portland Road with Sandyford Road.  Sandyford lies approximately 0.5 mile east of Newcastle City Centre and 0.5 mile south of the popular leisure district of Jesmond. The immediate area   has good public transport links with bus stops, a taxi office and the Metro service all close at hand.

Business

The business has been trading since 2014 and offers three, clean, modern two bedroom suites each sleeping 4 persons.  Trade is consistent and is made up of a mixture of clients and includes traditional weekenders as well as professionals looking for a more flexible accommodation arrangement.  Each suite has a fully fitted and equipped kitchen and this allows the guests the option to eat in as well as enjoy the local restaurants. 

Operating Options

The business is currently operated by Staysa Ltd who   provide long term accommodation options for a variety of corporate organisations. Our client has agreed a month to month “lease” arrangement whereby they receive a fixed monthly income of £2,500, regardless of occupancy levels within the property.  

Staysa currently take on the responsibility for utilities and housekeeping and at the moment our client has a minimal input in the day to day operations.

This arrangement is transferable but alternatively a new owner could take on the management of the building themselves and generate more profit. Naturally this would require input with regards to management of the building, bookings and day to day operations.  Our client previously operated the business in this manner and listed the suites with Booking.com and Airbnb. Guest ratings were strong with good levels of repeat business and the tariffs ranged from between £97 to £177 per night. Turnover in excess of £80,000 per annum was achieved.

Property

Comprises a modern mid-terraced 4 storey building of traditional red brick construction with a slate roof over. 

Basement

Car Parking

Laundry

Storage Cupboard

Ground Floor – Portland Suite

Kitchen

Lounge / Dining Room

Bedroom 1 - double

Bedroom 2 - twin

Bathroom

First Floor - Ouseburn Suite

Kitchen

Lounge / Dining Room

Bedroom 1 - double

Bedroom 2 - twin

Bathroom         

Second Floor - Sandyford Suite

Kitchen

Lounge / Dining Room

Bedroom 1 - double

Bedroom 2 - twin

Bathroom

External

Seating / Patio Area to front.

Services

The property has the benefit of water, gas, electric CCTV and sewerage services.  Gas central heating and double glazing are installed throughout and there is an additional hot water tank to ensure supply

Rates

The premises are assessed as follows:

Ground Floor Rateable Value - £5,300

First Floor Rateable Value - £6,400

Second Floor Rateable Value - £4,150 

Tenure

The property is currently held on a 125 year ground lease from 1984 at a peppercorn rent.

EPC - Rating C, C & D respectively.

Money Laundering Regulations

In accordance with the current Anti-Money Laundering Regulations the Purchaser or Tenant will be required to provide two forms of identification and proof of the source of income.

 

 

 

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