Summary - CONNAUGHT MEWS 4 JESMOND NEWCASTLE UPON TYNE NE2 2BP
2 bed 1 bath Flat
Long-term tenants, gated parking and lift close to West Jesmond Metro.
• Two bedrooms and one bathroom, 678 sq ft (average-sized flat)
• Currently let producing £11,160pa; market rent potential £13,524pa
• Resident-only gated parking beneath the building
• Lift access and low-maintenance modern block
• Leasehold: 102 years remaining
• Tenants in situ and do not intend to vacate (sale as a let)
• Buyer’s premium applies on purchase
• Average broadband speeds and average local crime levels
This modern two-bedroom flat sits in the heart of Jesmond, a short five-minute walk from West Jesmond Metro and Osborne Road’s bars, shops and cafés. The building offers resident-only gated parking beneath the block and lift access, making it practical and low-maintenance for working professionals and long-term tenants.
Currently let to reliable long-term tenants, the property produces a gross annual income of £11,160 (approx. 6.98% gross yield at the asking price). Reletting to current market rents could raise gross income to £13,524 (approx. 8.45% gross yield), giving clear upside for investors looking to improve returns.
Important facts for buyers: the flat is leasehold with 102 years remaining and average broadband speeds. A buyer’s premium will apply on sale, and the tenants do not intend to vacate, so the purchase will be as a let property. Crime levels are described as average for the area.
Overall this is a straightforward, turn-key investment in a very desirable Jesmond location. The combination of long-term tenants, secure parking and strong transport links will suit investors seeking immediate rental income and modest scope to increase yield.
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