Summary -
37 Neville Court,WASHINGTON,NE37 3DY
NE37 3DY
2 bed 1 bath Flat
Immediate rental income from day one — compact two-bed flat with tenant in place..
Tenant in situ — immediate rental income and advertised high yield
Leasehold with approximately 87 years remaining
Service charge about £1,536/year (includes building insurance)
Ground rent circa £10/year
Small 592 sq ft flat; compact layout, easy to manage
On-street parking and small balcony; communal managed green space
Area classed very deprived with high local crime rate
Price reflective of risks; consider lease length for mortgage/valuation
This two-bedroom flat in Neville Court is presented primarily as an investment opportunity. With a tenant in situ and advertised strong yield, the property promises immediate rental income from day one, reducing void risk for a new owner. The flat is compact at around 592 sq ft, arranged in a traditional layout with a living room, fitted kitchen and one bathroom.
Practical details important to investors are straightforward: leasehold tenure with approximately 87 years remaining, annual ground rent around £10 and an average service charge of about £1,536 per year (c. £128 pcm) which includes building insurance. Council tax is noted as very cheap, and there is on-street parking plus a small balcony and communal managed green space.
Location offers quick access to local amenities, bus links and the Galleries Shopping Centre within a short drive. However, the property sits in an area classed as very deprived with a high local crime rate and “hampered aspiration/constrained renters” demographics. These factors may affect capital growth and tenant profiles over time.
Suitability: this flat suits investors seeking immediate rental return rather than a long-term, high-growth play. The small size and compact finish make it easier to manage, but buyers should factor in the shorter lease term (87 years) and the social and area risks when assessing long-term value or resale prospects.
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