Summary - THE BAR APARTMENT 215 ST JAMES GATE NEWCASTLE UPON TYNE NE1 4BA
2 bed 2 bath Apartment
Two-bedroom city-centre flat with balcony, parking and strong rental income potential..
Purpose-built two-bedroom, two-bath second-floor apartment
A purpose-built two-bedroom apartment on the second floor of St James Gate, a short walk from Central Station, Newcastle Helix and city-centre amenities. The flat offers open-plan living with a balcony, two bathrooms (one en-suite), double glazing, lift access and an allocated car parking space within the Stephenson Quarter.
This property is currently let at £900 pcm (£10,800 pa). At the asking price of £110,000 that equates to a gross yield of about 9.8% — a clear investment return for buyers seeking rental income. Note a prior summary of the listing referenced a 5.7% gross yield; the current rental/price figures produce the higher yield stated here. The apartment is sold with 103 years remaining on the lease and is managed via a management company.
Running costs and practical points to consider: the service charge is approximately £2,666 pa and ground rent £350 pa. Heating is electric (room heaters) rather than gas, and the building was constructed circa 2003–2006. The neighbourhood is a cosmopolitan, multicultural student area with excellent transport links and fast broadband — but it also records very high crime levels and sits in a more deprived local area, which may affect long-term capital growth and tenant profiles.
Overall this is a straightforward buy-to-let opportunity for investors wanting immediate rental income and low maintenance communal building. Owner-occupiers should note the tenancy, leasehold terms, running costs and local crime statistics before viewing.
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