Summary - MERCHANTS QUAY, 46 - 54 APARTMENT 1 CLOSE NEWCASTLE UPON TYNE NE1 3RF
2 bed 2 bath Flat
Immediate rental income with long-term tenant in a modern city-centre block.
Current gross rental income £12,000 per year (tenant in situ)
Approximate gross yield c.7.1% at £170,000 purchase price
Leasehold tenure — check remaining term and service charges
Shared off-street parking; no private garden or outdoor space
Located in NE1 city centre with strong rental demand and amenities
Area classified as deprived with very high local crime rates
Long-term tenant intends to remain — limited vacant possession risk
Buyer's premium may apply; commission full inspection and let pack review
This two-bedroom leasehold flat in central Newcastle (NE1) is being offered as a let investment with a long-term tenant in situ. The property currently produces £12,000 pa gross, giving an approximate gross yield of 7.1% at the listed price of £170,000. It sits in a modern mid-rise block with shared off-street parking and straightforward access to city-centre amenities and transport links.
The tenant has occupied the property for several years and has a consistent payment record; they have indicated an intention to remain, so the sale is likely to suit buyers seeking immediate rental income. The building appears well-presented externally and the flat is described as well-kept, but no internal floorplan or full condition report is provided here. Investors should review the Let Property Pack and commission a full inspection to confirm exact size and condition before purchase.
Important considerations: the property is leasehold, located in a densely populated, deprived area with very high local crime levels reported. These factors can affect future re-letting, insurance costs and resale. There is no private garden and the flat is typical of city-centre apartments with limited communal external space. Buyers should also note a buyer’s premium may apply to secure the sale.
Overall, this is a straightforward buy-to-let opportunity for investors seeking immediate income from a centrally located two-bedroom flat. It offers visible rental performance now but requires due diligence on lease terms, service charges, local market risks and any building-specific matters before purchase.
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