Latest £3.8m student accommodation now complete for Newcastle

Newcastle-based property consultancy, Walton Robinson has recently completed the acquisition of a high-end Grade II listed residential investment on St James’ Street in Newcastle.

Walton Robinson operates throughout the North East with a dedicated investment team based in The Bruce Building, Newcastle, the company’s regional headquarters.

The refurbished property on St James’ Street comprises of four terraced houses and has been fully let to student tenants since a large-scale refurbishment project in 2016.

Chris Wilkin, of Walton Robinson, acted on behalf of Chrome Classic Investments to complete the purchase.

He said: “Walton Robinson are delighted to have completed the acquisition of St James Street on behalf of our clients.

“We were able to act with speed in a competitive market to acquire this outstanding investment asset in the centre of Newcastle.”

Former office space was carefully transformed into 12 apartments for the student lettings market.

The apartments are fully pre-let for the 2018-19 academic year and reflect a net yield of 6.79 per cent for the new owners Chrome Classic Investors, who purchased the development for £3.8m.