Ovett Gardens, Gateshead, NE8
- PROPERTY TYPE
Town House
- BEDROOMS
7
- 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
An unrivaled multi-income asset management opportunity for savvy investors. Currently let to Newcastle University students, the property offers unique transaction flexibility: buyers can complete ahead of the lease expiry with the remaining rental income refunded on a pro-rata basis from day one, or secure full vacant possession in early September 2026 to launch seamlessly into the new academic and professional moving season.
The Unique Dual-Income Configuration:
The property boasts a highly strategic and versatile layout split into two distinct income streams, maximizing rental security and cash flow:
1. The Main House (6-Bedroom HMO): A premium multi-bedroom with 5 bathrooms co-living setup tailored for top-tier student cohorts or professional sharers.
2. The Independent Studio (C3 Planning Licensed): A highly lucrative, completely self-contained unit benefiting from a formal C3 planning license. It features:
• Its own private, fully-fitted kitchen.
• Its own private bathroom.
Turnkey & Fully Furnished:
This property is being sold as a true 'handover' turnkey investment. All existing premium furnishings, bedroom sets, and communal white goods/appliances are fully included in the sale price. The incoming buyer will receive the keys with absolutely no further capital expenditure or furnishing hassles required, allowing for an effortless, immediate rental launch.
Inflation-Proof Utility Setup:
Commercial profitability is heavily optimized as Gas and Electricity bills are entirely excluded from the rent and paid by the tenants directly. The landlord is only responsible for Wi-Fi and Water, effectively shielding your monthly net profit margins from utility market fluctuations.
Prime Transport & Unmatched Returns:
Located just an enviable 4-minute walk from the local Metro station, future occupants enjoy a lightning-fast commute into the vibrant heart of Newcastle City Centre, major employers, and both premier university campuses (Newcastle & Northumbria Universities). Under full occupancy, this powerhouse asset is projected to comfortably generate £46,000 per annum (ERV), driving the potential gross yield to a staggering 14.83% at the asking price.
EPC rating: C. Tenure: Freehold,
- 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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Visit our security centre to find out moreDisclaimer - Property reference P331. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Newcastle Lettings, Newcastle. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.
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