This ground floor flat presents a solid opportunity for renovation and investment. While it requires modernization, the absence of a chain simplifies the process for potential buyers. Sold as seen, including existing contents, this property can be transformed into a desirable rental space, with similar flats in the area achieving monthly rental incomes around £650, based on quality finishes. With strategic refurbishment, there’s a potential uplift in value to approximately £80,000, contingent on the quality of renovations undertaken and current market conditions.
The flat is part of the HMO and selective licensing schemes introduced by Gateshead Council as of June 2025. It is categorized under Council Tax Band A and boasts a long lease of 999 years from December 7th, 1990—leaving about 964 years remaining—with no ground rent or service charges.
The layout includes an entrance lobby that leads into a hallway featuring a storage cupboard. The spacious double bedroom at the front promises comfort, complemented by a cozy lounge equipped with a feature fireplace. A second double bedroom at the rear adds further appeal.
The kitchen is functional with necessary plumbing for washing machine installation and designated space for essential appliances such as fridge, freezer, and cooker, along with access to a shared rear yard. The bathroom/WC comes partially tiled and features a shower over bath setup.
Additional assets include gas central heating via a combi boiler and double-glazed windows throughout, enhancing energy efficiency despite its current condition. Note that services and appliances have not been tested, so their operational status remains uncertain.
