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34 Pilgrim Street, Newcastle Upon Tyne

North East

£225,000
Listed on 15/03/2026

Property Details

Bedrooms
N/A
Type
Commercial Property

Description

This Grade II listed commercial building offers significant renovation potential across its four storeys. With a total floor area of 113 sq. m. (1,218 sq. ft.), the property is centrally located in Newcastle upon Tyne, within an area undergoing substantial transformation due to the Pilgrim’s Quarter regeneration project. Previously granted planning consent for converting into three residential apartments, the property presents a rare blank canvas after being stripped back to its brickwork. The upper floors are bright and spacious, benefiting from ample natural light, making them ideal for modern living spaces or alternative uses pending necessary consents. The ground floor has been sold off on a long lease, providing some financial security while you explore renovation possibilities. Notably, the structure features charming sandstone construction and is surrounded by vibrant city life, with easy access to transport links and cultural amenities. Given its historic significance and prime location, this building not only represents an opportunity for bespoke development but also stands as a valuable asset in a rapidly evolving neighbourhood.

Investment Analysis

(NE1 area)
Area Average
£219/sq ft
Avg Rent (weekly)
£276
Avg Yield
9.7%

Renovation Potential

Medium Refurb
Est. Renovation Cost
£60,000 - £90,000
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
6
Average per month
Market Turnover
4%
Properties sold annually

Local Market Trend (NE1)

Area prices are falling by -9.2% over the last 12 months
3 year growth: -2.3%
5 year growth: +28.4%
Investment Disclaimer: Analysis based on NE1 area averages and may not reflect property-specific factors like condition, exact location, or unique features. Any renovation cost estimates provided are AI-generated and should be considered indicative only. Renovation costs vary significantly based on property condition and scope of work. Always conduct professional surveys and get multiple quotes before making investment decisions.

Location

34 Pilgrim Street, Newcastle Upon Tyne
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Mortgage Calculator

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years

Current average 2-year fixed rate is 4.06%

Current average variable rate is 6.81%

Monthly Repayments
£811
Based on a loan of £168,750 over 30 years at 4.06% interest

These results are estimates and are only intended as a guide. Make sure you obtain accurate figures from your lender before committing to any mortgage. Your home may be repossessed if you do not keep up repayments on a mortgage.

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