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Gosforth Terrace, Pelaw, Gateshead NE10 - Image 1

Gosforth Terrace, Pelaw, Gateshead NE10

North East

£50,000
Listed on 18/03/2026

Property Details

Bedrooms
2
Type
Flat

Description

This ground floor flat, situated in a desirable and established residential area, presents an excellent opportunity for investors or homebuyers eager to apply their personal touch. Originally designed as a two-bedroom unit, the space has been creatively opened up to enhance the living area, but can easily be reverted back to its original configuration by reinstating the wall. This adaptability allows for either a spacious lounge and dining area or the addition of an extra bedroom, catering to various lifestyle needs. The layout includes an entrance lobby leading into a hallway, a welcoming lounge with a charming fireplace serving as a focal point, a fitted kitchen, and a modern shower room. The main bedroom is generously sized and features built-in wardrobes along with period-style coving that adds character. An enclosed yard at the rear provides some outdoor space for relaxation or gardening. This property is ideal for those looking to modernize and customize according to their preferences. The location benefits from proximity to local shops and amenities as well as excellent transport links through bus routes and a nearby Metro Station, making it accessible for commuters. With minimal onward chain complications, this flat offers both potential and convenience.

Investment Analysis

(NE10 area)
Area Average
£162/sq ft
Avg Rent (weekly)
£183
Avg Yield
6.5%

Renovation Potential

Medium Refurb
Est. Renovation Cost
£12,000 - £25,000
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
24
Average per month
Market Turnover
27%
Properties sold annually

Local Market Trend (NE10)

Area prices are stable by -0.7% over the last 12 months
3 year growth: +9.8%
5 year growth: +22.4%
Investment Disclaimer: Analysis based on NE10 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

Gosforth Terrace, Pelaw, Gateshead NE10
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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
£180
Based on a loan of £37,500 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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