Summary - 390 GRACE STREET NEWCASTLE UPON TYNE NE6 2RQ
3 bed 1 bath Ground Flat
Refurbished rental with long lease and immediate income potential.
- Newly refurbished with new kitchen and modern fittings
- Three bedrooms, one bathroom, approximately 700 sq ft
- Currently tenanted at £550 PCM, provides immediate income
- 999-year lease; long lease length removes lease concerns
- Will be sold at auction via Secure Sale; exchange available
- Located in a very deprived area with very high crime
- Small overall size; ground-floor layout may limit tenant types
- Council Tax Band A; running costs comparatively low
This ground-floor property has been recently refurbished and presents a straightforward buy-to-let opportunity in Newcastle. The flat benefits from a brand-new kitchen, double glazing, mains gas central heating and a 999-year lease, reducing long-term ownership uncertainty.
Currently tenanted at £550 PCM, the property offers immediate rental income and will be sold via Secure Sale with auction terms; exchange of contracts can proceed quickly. The accommodation is compact (about 700 sq ft) with three bedrooms and one bathroom, suitable for renting to sharers or small families.
Buyers should note the location’s challenges: the local area is very deprived with very high crime levels and hampered neighbourhood classification. The immediate surroundings are urban and busily serviced, with good transport links and local amenities, but these social factors will influence tenant demand and capital growth.
This is a clear, low-entry investment for a buyer comfortable managing a property in a high-need area. The long lease, low council tax band and recent refurb reduce near-term capital expenditure, though sensible lettings management and security considerations are advised.
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