Mammoth sixteen-bedroom hits market in property hotspot of Jesmond
The newly-listed property is being touted as an “investment opportunity” with the possibility of bringing in a staggering amount.
A mammoth sixteen-bedroom home has hit the market in the property hotspot of Jesmond.
Southbank on Otterburn Villas was listed on Rightmove on October 7 for a cool £1.5 million. It's being touted as an "investment opportunity" by the estate agents, which is currently bringing in an eye-watering £96,240 per annum.
The development comprises nine apartments which are split into three one bedrooms, four two bedrooms and one three-bedroom maisonette. There's also the potential to add another three bedrooms to the building if the necessary permissions are granted.
A detailed breakdown of what each flat is bringing in when it comes to renting can be found on the Rightmove listing, with information on when contracts are signed as well, for those wanting to have a nosey.
Jesmond is, of course, known as a student hub thanks to its proximity to Newcastle University and Northumbria University, as well as the long street of bars in the centre of the suburb.
However, Jesmond is much more than its student reputation these days. The Golden Triangle of properties in the north of the area is sought-after by big-money buyers and families are also making home in the area near Jesmond Dene.
Pat Robson Director Tim Nixon explained: "Despite an enduring reputation as a student hub, there is of course a great deal more to Jesmond.
"Tucked away between Osborne Road and Jesmond Dene, the streets of Adderstone Crescent, Lindisfarne Road and Glastonbury Grove are collectively known as ‘The Golden Triangle’, and the houses there represent some of the most desirable in the city.
"These high-value homes enjoy privacy and seclusion however their super-central position, just moments from Jesmond’s famous restaurants, bars and shops ensure that residents fortunate enough to live there really do enjoy the best of both worlds."