Summary - FLAT 15, 38 LOW FRIAR STREET, NEWCASTLE UPON TYNE NE1 5UF
2 bed 1 bath Apartment
Chain‑free two-bedroom flat with parking in the heart of Newcastle, ideal for investors or first-time buyers..
Vacant and chain‑free — ready for quick completion
Two double bedrooms with bright, open-plan living space
Allocated off‑street parking — uncommon in NE1
Electric room heaters only — potentially higher running costs
No EWS1 provided for the building
Service charge approx. £2,100 pa; ground rent £150 pa
98 years remaining on lease — monitor for future buyers
Area: cosmopolitan student neighbourhood; very high local crime
This third‑floor two-bedroom apartment in the heart of Newcastle offers straightforward city-centre living and clear investor appeal. The property is vacant and chain-free, making for a quick completion, and comes with an allocated off‑street parking space — a rare find in this postcode. The open-plan lounge/kitchen and large windows produce a bright, flexible living area suitable for tenants or first-time buyers.
The flat sits within a busy, multicultural student neighbourhood, so rental demand is consistent but tenancy turnover can be high. Service charge and ground rent are present (see key points), and the 98 years remaining on the lease is adequate but worth monitoring for future buyers. Heating is electric via room heaters rather than a central system, which may increase running costs compared with gas-heated properties.
Practical issues to note: there is no EWS1 form provided, and the building uses system-built construction assumptions. Crime levels in the immediate area are very high; prospective purchasers should consider security measures and insurance implications. For those prepared to accept these trade-offs, the apartment represents a convenient, low-maintenance entry into the city market with good letting potential and immediate occupancy.
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