Ovett Gardens, Gateshead, NE8
- PROPERTY TYPE
Town House
- BEDROOMS
6
- BATHROOMS
5
- SIZE
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- TENUREDescribes how you own a property. There are different types of tenure - freehold, leasehold, and commonhold.Read more about tenure in our glossary page.
Freehold
Description
Ovett Gardens
Key Features:
* Fully Licensed 6-Bedroom HMO
* 5 Luxury Ensuites & Ground Floor Guest Toilet
* Currently Generating £31,000 PA with £36,000 PA Potential (ERV)
* Utility Efficiency: Rent includes Wi-Fi & Water ONLY; Gas & Electricity are paid additionally by tenants
* Prime Location: Just a 4-Minute Walk to the Metro Station
* Quick Access to Newcastle City Centre & Both Universities
* Ready-to-Operate Turnkey Asset
* Freehold Investment Opportunity
Full Description
This modern, high-spec, and fully compliant 6-bedroom HMO offers an exceptional investment opportunity in a prime location. Currently let to Newcastle University students, the asset is uniquely positioned for flexible transition: buyers can complete ahead of the lease expiry with the remaining rental income refunded on a pro-rata basis, or secure vacant possession in early September 2026 to launch seamlessly into the new academic year.
The Property Layout:
Meticulously designed for premium shared living, the property features 6 spacious bedrooms, including 5 high-end ensuite shower rooms and a ground floor guest toilet significantly boosting tenant satisfaction and rental premium. A contemporary, fully equipped communal kitchen area provides the perfect social hub for professional or student sharers.
Unbeatable Utility & Cost Control:
Unlike standard HMOs where landlords bear inflation risks, this asset maximizes your net yield. Gas and Electricity bills are entirely excluded from the rent and paid directly by the tenants, leaving the landlord to cover only Wi-Fi and Water.
Location & High-Yield Potential:
Situated a mere 4-minute walk from the local Metro station, tenants enjoy an effortless few-minutes commute straight into Newcastle City Centre, Newcastle University, and Northumbria University. Under full occupancy, the property is projected to comfortably deliver £36,000 per annum (ERV), representing an outstanding 13.33% potential gross yield at the asking price.
Asking Price: Offers in Excess of £270,000
Council Tax Band: C
- COUNCIL TAXA payment made to your local authority in order to pay for local services like schools, libraries, and refuse collection. The amount you pay depends on the value of the property.Read more about council Tax in our glossary page.
- Band: C
- PARKINGDetails of how and where vehicles can be parked, and any associated costs.Read more about parking in our glossary page.
- Driveway
- GARDENA property has access to an outdoor space, which could be private or shared.
- Private garden
- ACCESSIBILITYHow a property has been adapted to meet the needs of vulnerable or disabled individuals.Read more about accessibility in our glossary page.
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Ovett Gardens, Gateshead, NE8
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