Summary - 306, Ovington Grove NE5 2QH
2 bed 1 bath Flat
Affordable two-bed with front and rear gardens — lease extension in progress, check mortgage options.
First-floor two-bedroom flat in 1930s semi-detached building
This first-floor, two-bedroom flat sits in a 1930s semi-detached building on a residential street in Fenham. The accommodation is sensibly laid out with a lounge, kitchen, two bedrooms and a bathroom, and benefits from double glazing and gas central heating. Gardens to the front and rear provide unusually generous outdoor space for a flat and room for pots, children's play or a small garden project.
The property is attractively priced at £95,000, with low ongoing costs: Council Tax Band A and a ground rent of just £25 per year. An EPC grade C and mains gas heating mean running costs are reasonable. Good public transport links give straightforward access into Newcastle city centre, MetroCentre and the A1/A69.
A material point for buyers and advisers: the lease shows 56 years remaining (July 2025). The current owner’s solicitor is in the process of extending the lease to 999 years on sale, but until that legal work is completed many mortgage lenders may refuse or impose extra conditions. Buyers should confirm the lease extension status and lending options with their lender and conveyancer before committing.
This home will suit someone after affordable access into the area who can accept a property needing modest updating rather than a turnkey finish. It also has potential for buy-to-let purchasers once lease matters are resolved, given the size, outdoor space and transport links, but investors should factor in area-level factors such as above-average local crime and wider area deprivation when assessing yields and management needs.
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