Craster Square, Newcastle Upon Tyne, NE3
- PROPERTY TYPE
Flat
- BEDROOMS
2
- BATHROOMS
1
- SIZE
635 sq ft
59 sq m
Key features
- Online auction ends 24 November 2026 at 12:00pm – pre-auction offers considered
- Vacant possession
- Every flat sold within 250m since June 2025 went for £62,000 or more
- Last 6 flat sales within 250m averaged £82,264
- Similar two-bed flats nearby advertised to let at around £825 pcm
- Estimated gross yield of 24.8% at the guide price, before refurbishment costs
- Brick-built two-bed flat – leasehold, almost 81 years remaining
- Approx. 59 sq m (635 sq ft) – about £63 per sq ft at the guide price
- Needs full refurbishment – scope to add value
- Secure gated entry, access to outdoor space, council tax band A
Description
ONLINE AUCTION ENDING TUESDAY 24 NOVEMBER AT 12PM – PRE-AUCTION OFFERS CONSIDERED.
Guide £39,999 for a vacant two-bed flat in Gosforth, Newcastle – less than half the £82,264 average of the last six flat sales within 250m, with similar flats nearby advertised to let at around £825 pcm.
View the legal pack and bid at auctionworks.co.uk/lot/details/ff573586-7a8b-43a8-a820-34b187a38475
THE NUMBERS
Guide price: £39,999
Floor area: approx. 59 sq m (635 sq ft) – about £63 per sq ft at the guide price
Estimated rent: around £825 pcm (£9,900 per annum) once refurbished
Gross yield at guide: 24.8%, before refurbishment costs
Recent sales: the last six flat sales within 250m averaged £82,264 (HM Land Registry via PropertyData, June 2025 – May 2026). Every one of them sold for £62,000 or more:
19 Craster Square – flat – £62,085 – June 2025
63 Jubilee Road – two-bed flat – £67,000 – June 2025
2 Whalton Court – two-bed flat – £85,000 – June 2025
21 Bamburgh Walk – two-bed flat – £85,000 – August 2025
67 Jubilee Road – two-bed flat – £92,500 – March 2026
32 Whalton Avenue – two-bed flat – £102,000 – May 2026
Sale prices reflect flats in a range of conditions.
Rental evidence (two-bed flats advertised to let, PropertyData, November 2026):
Kirkley Lodge, Fawdon (0.2 miles) – £845 pcm
Regent Farm Road, Gosforth (0.3 miles) – £1,326 pcm, let agreed
Edgefield Avenue, Kenton (0.4 miles) – £802 pcm
Salters Road, Gosforth (0.5 miles) – £897 pcm, let agreed
Broomfield Road, Gosforth (0.6 miles) – £975 pcm
The average across 20 two-bed flats within 0.6 miles is £1,109 pcm. Our rent estimate sits at the lower end, in line with the closest comparable blocks. Rents are asking rents, not achieved rents. Buyers should make their own enquiries.
THE PROPERTY
A two-bed flat in a brick-built block with secure gated entry and access to outdoor space. There is a hallway, a lounge with a brick fireplace (4.73m x 3.58m), a kitchen, two bedrooms, the largest 3.61m x 3.48m, and a bathroom with a bath, pedestal basin and WC.
The flat needs full refurbishment. The kitchen and bathroom are dated and the whole interior needs bringing up to a modern standard, though every room has large windows and good natural light. The lease is 125 years from October 1982, leaving almost 81 years, and the freehold is held by Newcastle City Council. Service charge and ground rent details are in the legal pack. Council tax band A.
TENANCY
Vacant possession on completion.
LOCATION
Craster Square is in Gosforth, about half a mile from Regent Centre Metro station and bus interchange, which give a direct link into Newcastle city centre, with the Regent Centre's offices and shops alongside. St Nicholas Hospital is under half a mile away, Gosforth High Street is a short drive, and the A1 Western Bypass is a few minutes away by car.
AUCTION TERMS
Sold under unconditional auction terms. Contracts exchange when the auction ends and completion must take place within 28 days.
Deposit: 5% of the purchase price (minimum £3,600), non-refundable, contributing towards the purchase price.
Buyer’s premium: 2.4% inc VAT (minimum £3,600 inc VAT), non-refundable and payable in addition to the purchase price.
Legal pack: free to download from the lot page. Please read it, including the special conditions, before bidding, and take legal advice if unsure.
Bids are legally binding once placed and stand until 2 hours after the auction closes. Pre-auction offers are considered.
DISCLAIMER
These particulars are a general guide only and do not form part of any offer or contract. Measurements, floor areas and distances are approximate. We have not tested any services, appliances or fittings, and buyers should rely on their own inspection, surveys and legal advice rather than on these particulars.
Sales and rental figures come from third-party data (HM Land Registry and PropertyData) and are given for guidance only. They are not a valuation and do not guarantee any value, rent or return.
A guide price is an indication of the seller’s current minimum acceptable price at auction and may change. The reserve is the seller’s minimum acceptable price and is expected to be no more than 10% above a single-figure guide. All information is believed correct at the time of writing, but buyers must make their own enquiries and read the legal pack before bidding.
Bathroom
2.24m x 1.49m
Bedroom 1
4.02m x 2.43m
Bedroom 2
3.61m x 3.48m
Kitchen
4.04m x 2.06m
Hallway
2.07m x 0.82m
Lounge
4.73m x 3.58m
- 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: A
- PARKINGDetails of how and where vehicles can be parked, and any associated costs.Read more about parking in our glossary page.
- Ask agent
- GARDENA property has access to an outdoor space, which could be private or shared.
- Ask agent
- ACCESSIBILITYHow a property has been adapted to meet the needs of vulnerable or disabled individuals.Read more about accessibility in our glossary page.
- Ask agent
Energy performance certificate - ask agent
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