Summary - 29, Bensham Crescent, GATESHEAD NE8 2YB
2 bed 1 bath Apartment
Low-price, long-lease opportunity with immediate rental income potential.
Ground-floor two-bedroom flat in Victorian terrace
For sale via online auction, this ground-floor two-bedroom flat on Bensham Crescent offers clear investor potential and affordable entry for first-time buyers. The property features a private rear yard, gas central heating and double glazing, and is currently tenanted producing £600pcm — a ready income stream for purchase at the advertised price.
The flat occupies a Victorian terrace with period frontage and benefits from a private entrance and straightforward layout: entrance hallway, lounge, fitted kitchen, two bedrooms and a three-piece bathroom. The long lease (998 years) reduces long-term leasehold risk and the property is chain-free, allowing a quick transfer when auction conditions are met.
Buyers should note material negatives: the area is classified as ‘Hampered aspiration’ with very high deprivation and high local crime levels, which will affect rental demand, resale and financing options. It is being sold at auction under specific terms and conditions; prospective purchasers must check auction paperwork and tenancy status, as the flat is currently occupied.
This is a pragmatic purchase for investors seeking an immediate let-income or for buyers wanting a low-price entry with scope to refurbish. Expect straightforward cosmetic updating rather than structural overhaul, but factor local area challenges into plans for tenancy, resale value and mortgage availability.
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