King Edward Street, Gateshead, NE8

Three bedroom first floor flat, ideal for first time buyers, professionals and investors.

Similar apartments let for approximately £800 PCM, depending on standard.

A fantastic investment opportunity, offering an impressive gross yield of approximately 14.8% based on the current asking price of £65,000 and anticipated rental income of £9,600 per annum.

The property also benefits from a valid EICR until 15th August 2032 and an EPC valid until ...

Please note this property will require a Selective Landlord Licence from 1 October 2025. Further details are available from Gateshead Council.

The property comprises an entrance lobby with stairs leading to the first floor. To the front of the property is a spacious double bedroom with ample space for wardrobes, while a second double bedroom is located to the rear. A third bedroom is positioned to the front of the property.

The lounge is a comfortable living space featuring an attractive fireplace and a useful storage cupboard. The kitchen is fitted with a built in oven, gas hob and extractor fan, with space for a fridge freezer and plumbing for a washing machine. Stairs lead down from the kitchen to a door providing access to the rear yard.

The bathroom is fitted with a white suite comprising a bath with shower over, WC and wash hand basin, complemented by partial wall tiling.

Externally, there is a shared rear yard with access to the rear lane.

Further benefits include double glazed windows and gas central heating provided by a Baxi boiler installed within the last three years.

We understand the flat falls within Council Tax Band A and is held on a 999 year lease from 16th February 1990, leaving approximately 963 years remaining at the date of listing. We understand that no service charge or ground rent is payable, although full details will be confirmed by solicitors.

Making an Offer
Please note that all offers will require financial verification, including a mortgage agreement in principle, proof of deposit funds, proof of available cash and full chain details, including selling agents and solicitors involved in the transaction. Under Money Laundering Regulations, we require proof of identification from all purchasers before acceptance letters are issued and solicitors can be instructed.

IMPORTANT NOTE TO POTENTIAL PURCHASERS & TENANTS:
We endeavour to make our particulars accurate and reliable, however, they do not constitute or form part of an offer or any contract and none is to be relied upon as statements of representation or fact. The services, systems and appliances listed in this specification have not been tested by us and no guarantee as to their operating ability or efficiency is given. All photographs and measurements have been taken as a guide only and are not precise. Floor plans where included are not to scale and accuracy is not guaranteed. If you require clarification or further information on any points, please contact us, especially if you are traveling some distance to view. POTENTIAL PURCHASERS: Fixtures and fittings other than those mentioned are to be agreed with the seller. POTENTIAL TENANTS: All properties are available for a minimum length of time, with the exception of short term accommodation. Please contact the branch for details. A security deposit of at least one month’s rent is required. Rent is to be paid one month in advance. It is the tenant’s responsibility to insure any personal possessions. Payment of all utilities including water rates or metered supply and Council Tax is the responsibility of the tenant in most cases.

QLF260263/2