Summary - 70 CAMERONIAN SQUARE GATESHEAD NE8 2DB
2 bed 2 bath Flat
Long-term tenant with balcony, parking and strong transport links nearby.
Long-term tenant in situ; steady rental income
Current gross rent £13,200 pa; potential to £14,400 pa
Approx. 775 sqft; two bedrooms, ensuite and balcony
Off-street parking included; modern open-plan living
Leasehold with c.105 years remaining
Area records higher crime and local deprivation
Sold with tenancy — not immediately available for occupation
Buyer’s premium applies; include in purchase costs
This well-maintained two-bedroom leasehold apartment in a modern residential block is presented with a long-term tenant in situ, making it a straightforward buy-to-let purchase for investors. The flat offers open-plan living, an ensuite, a balcony and an off-street parking space, with good natural light and contemporary finishes throughout. Broadband and mobile signal are strong, and the development sits close to public transport and local amenities, attracting students and commuters.
Financially the property already produces a reliable income of £13,200 pa with scope to increase to an estimated market rent of £14,400 pa, implying a current gross yield of about 8.9% (rising to c.9.7% at market rent). The lease has approximately 105 years remaining and the block appears well kept, reducing immediate major maintenance risk.
Buyers should note material considerations: the area records higher-than-average crime and sits within a deprived local economy, which may affect future capital growth and tenant profiles. The property is sold with tenants in place who intend to remain, so immediate owner-occupation is not possible without agreement. A buyer’s premium applies to secure the purchase — factor this into total acquisition costs.
Overall this is a pragmatic acquisition for an investor or portfolio-builder seeking steady rental returns from a modern, easily managed apartment close to transport and student/commuter demand. The asset’s income profile and low short-term maintenance needs make it suitable for hands-off landlords or professional managers, provided you accept the local area considerations and tenancy position.
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