Summary - 16 OVERHILL TERRACE GATESHEAD NE8 1TD
1 bed 1 bath Flat
One-bed ground-floor flat with tenant in place — auction sale, immediate income.
Tenant in situ paying £425 pcm — immediate rental income
A one-bedroom, ground-floor flat on Overhill Terrace offered at auction with a tenant in situ paying £425 pcm, making it a straightforward buy-to-let acquisition for investors seeking immediate rental income. The flat occupies part of a Victorian mid-terrace building, benefits from double glazing installed since 2002, gas central heating with a boiler and radiators, and a private rear yard.
The long lease (999 years from 1990, c. 969 years remaining) and EPC rating C are practical positives for longer-term ownership. The property is compact (circa 578 sq ft) with conventional room proportions across lounge, bedroom, kitchen and bathroom—suitable for single occupancy or couples. Council Tax Band A keeps holding costs low.
Buyers should note material considerations: the property sits in an area described as very deprived with high local crime; it will be sold at auction and is subject to auction fees (administration fee £2,000 + VAT). The building has solid brick walls assumed without insulation and the interior shows dated decor, so medium-level refurbishment or redecoration may be required to maximise rental value.
This lot is aimed primarily at investors who want an immediately income-producing asset and are comfortable purchasing at auction. Interested parties must verify tenure and lease details, confirm tenant status and tenancy terms, and allow for the auction timetable and associated fees when assessing total acquisition costs.
2 bedroom apartment for sale in 6 Cotfield Walk, Bensham, Gateshead, Tyne and Wear, NE8 — £60,000 • 2 bed • 1 bath • 452 ft²
1 bedroom ground floor flat for sale in Rectory Road, GATESHEAD, NE8 — £35,000 • 1 bed • 1 bath • 700 ft²
2 bedroom flat for sale in Brighton Road, GATESHEAD, Tyne and Wear, NE8 — £50,000 • 2 bed • 1 bath • 643 ft²
1 bedroom flat for sale in 31 Cameronian Square, Worsdell Drive, Gateshead, Tyne And Wear, NE8 2DB, NE8 — £75,000 • 1 bed • 1 bath • 549 ft²
2 bedroom flat for sale in Westbourne Avenue, Gateshead, NE8 — £75,000 • 2 bed • 1 bath • 671 ft²
3 bedroom terraced house for sale in Kipling Walk, Gateshead, Tyne and Wear, NE8 3NT, NE8 — £65,000 • 3 bed • 1 bath • 930 ft²
