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£35,000 Guide Price
Bedrooms
Bathrooms
National Residential is pleased to offer this recently redecorated, cosy 1-bedroom ground-floor flat, ideally located in the heart of Gateshead town. Now presented in good condition, this property is ready for immediate occupation or investment.
Leasehold Details
' Lease Term: 125 years from 20 July 2004 - 105 years remaining
' Ground Rent: 43.04 per annum
' No Service Charge
' Council Tax Band: A
Property Features
This well-kept flat offers practical living spaces and convenient amenities:
' Living Room: A bright, spacious area ideal for relaxing or entertaining.
' Kitchen: Fitted kitchen with ample storage and workspace.
' Bedroom: Comfortable double bedroom, ready to be personalised.
' Bathroom: Functional, well-maintained bathroom.
Prime Gateshead Location
Perfectly positioned for both convenience and leisure, this flat is close to Gateshead metro station, providing direct links to Newcastle and surrounding areas. A bustling local high street with shops, cafes, and eateries is within easy reach, as well as larger Asda and Aldi supermarkets just a short drive away.
Additional Highlights
' Close to local primary and high schools, making it a viable option for small families or as a rental investment.
' Nearby attractions include The Sage Gateshead, Gateshead International Stadium, and scenic areas along the Tyne River, offering both cultural and recreational opportunities.
Viewing Information
For a closer look, please view our online video tour. We highly recommend viewings to fully appreciate this well-located, recently refreshed flat.
Contact Us
For more details or to arrange a viewing, contact our dedicated specialist sales advisor today. Whether youre searching for a new home or an investment opportunity, this property is well worth considering - schedule your viewing today!
Important Notice
We advise all prospective buyers to carefully review the lease terms, ground rent, and any potential escalation clauses prior to purchase. Professional advice from a solicitor or legal expert is recommended to ensure a full understanding of the lease obligations and implications.
This property is ONLY available for purchasers who are NOT in a chain.
1. MONEY LAUNDERING REGULATIONS - Intending purchasers will be asked to produce identification documentation at a later stage so an online Anti-Money Laundering Check can be completed. We would ask for your co-operation in order that there will be no delay in agreeing the sale.
2: These particulars do not constitute part or all of an offer or contract. While we endeavour to make our sales particulars fair, accurate and reliable, they are only a general guide to the property and, accordingly, if there is any point which is of particular importance to you, please contact the office and we will be pleased to check the position for you, especially if you are contemplating travelling some distance to view the property.
3: Any measurements indicated are supplied for guidance only and as such must be considered incorrect.
4: Potential buyers are advised to recheck the measurements before committing to any expense.
5: National Residential has not tested any apparatus, equipment, fixtures, fittings or services and it is the buyers interests to check the working condition of any appliances.
'By making an enquiry on this property you acknowledge that this property is strictly offers in excess of the marketing price provided. The market appraisal of this property has indicated a value in excess of our marketing price. As a consequence, and similar to any other vendor, the vendor is aiming to achieve as much as possible in excess of this marketing price provided.
This property is for sale by the Modern Method of Auction which is not to be confused with traditional auction. Although the vendor may be willing to remove from the auction early for a suitable offer. The Modern Method of Auction is a flexible buyer friendly method of purchase. We do not require the purchaser to exchange contracts immediately but grant 56 days to exchange and complete. This additional time to exchange on the property means interested parties can proceed with traditional residential finance. Upon close of a successful auction or if the vendor accepts an offer during the auction, the buyer will be required to put down a deposit of 2% (minimum of 5,000) or a Buyers fee (amount or % will be stated in main advert., which secures the transaction and takes the property off the market. Please note this property is subject to an undisclosed reserve price which is generally no more than 10% in excess of the Starting Bid, both the Starting Bid and reserve price can be subject to change. Terms and conditions apply to the Modern Method of Auction and can be viewed in full on our website.
Your property may be repossessed if you do not keep up repayments on your mortgage.
Monthly Payment: £ 8,216.87
Monthly Payment: £ 8,216.87
Monthly Payment: £ 8,216.87
Amortization For Monthly Payment: £8,216.87 over 30 years ( Based on 3.20% Interest )
Using your investment as a 25.00% deposit and £ 5,833 in costs for purchasing and getting ready to let.
Stamp Duty is a tax paid on completion via your solicitor, the calculation includes the 3% surcharge for second homes.
Your home may be repossessed if you do not keep up repayments on your mortgage.
The refurbishment budget is set to 2.50% of the purchase price, but this will vary dependent on the suitability of the property for the rental market. Select a value that you feel is appropriate to the condition of the property.
This will vary between lenders, type of report and whether or not you are buying with a mortgage, for advice on which type of survey would be appropriate speak with an advisor from Preston Baker Financial Services.
Lenders will often charge a fees for the arrangement of a mortgage, for advice on what lenders may charge, speak with an advisor from Preston Baker Financial Services. Your home may be repossessed if you do not keep up repayments on your mortgage.
This is the sum of mortgage admin, land registry, search, bank transfer and any other fees incurred.
Purchase costs include assumed mortgage and survey costs which are estimated. For a quote contact a Preston Baker Financial Services mortgage advisor who can provide you with current and accurate information. The stamp duty calculation has applid the 3% stamp duty surcharge on the basis that this will be a second property.
The mortgage is assumed to be interest only. Your home may be repossessed if you do not keep up repayments on your mortgage.
This is the percentage of the rent that you will spend maintaining the property.
Ground Rent only applies to leasehold properties. This is an assumed ground rent, the confirmed figure can be found in the Property Information Questionnaire.
Service charge only applies to leasehold properties. The correct figure can found in the Property Information Questionnaire answered by the seller.
This is a standard, indicative figure only. Properties that have a service charge often have this included withing that charge. Please consult the Property Information Questionnaire for more information.
Final Equity Profit = Final Property Value - Mortgage Required - Investment
Cumulative Rental Profit = Annual rental profit x Time of Investment
This is the assumed rate of house price inflation.
This is the property value at the end of the investment based on an assumed rate of % house price inflation.
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