On the back on the successful sell out of previous student accommodation project Rede House, the twelfth project to be launched in partnership with Fortis Developments, Burgess House is a five-storey, £6.6million development located in the heart of the city on St. James Boulevard.
A conversion of a former office block, the 30,000sqft building will be transformed into 110 studio units, which will boast a gymnasium, laundry room, secure bicycle storage and fully-equipped entertainment lounge - designed to cater for the needs of today’s students. The development also has residential planning making it suitable for both professionals and students alike.
As with all Fortis Developments’ properties, Burgess House will be let and managed by an experienced rental management company – Fortis Student Living, who will be based on-site to assist with any queries and ensure the smooth day-to-day running of the building.
Named as the UK’s Best University City on the MSN travel website (2008-2011), both Newcastle University and Northumbria University are a popular choice with students.
As such, more than 49,000 students annually descend on the city and, for this reason; it is no surprise that Newcastle-upon-Tyne is experiencing a severe shortage of housing stock, meaning Burgess House has arrived at just the right time.
Within walking distance of the city centre and Newcastle United football ground, not to mention both university campuses, students living at Burgess House will have access to excellent local and national
transport links, allowing them to explore their new home away-from home.
Fortis Developments, in partnership with Knight Knox International, has delivered a number of student developments – all of which are completed, 100% let and delivering high rental yields. Projects such as Rede House in Middlesbrough, Dunn House in Sunderland and St. Andrew’s Court & Central House in Glasgow are all examples of the quality of the properties that they bring it market.
A planning application has been submitted to Newcastle City Council and the expected completion date of the project is June 2015. Apartments in Burgess House are now available to purchase through Knight Knox International at a starting price of £59,995 and investors will be assured of a rental NET yield of circa 9.16% for 2 years.