Summary - 5 COTFIELD WALK GATESHEAD NE8 1TG
2 bed 1 bath Apartment
Auction opportunity with low entry price and immediate vacant possession.
- Two-bedroom ground-floor flat with private front and rear gardens
- Compact overall size: 477 sq ft (small unit)
- Long lease: 124 years remaining, leasehold tenure
- Newly decorated but living room shows mould/damp and light fixture damage
- Gas central heating, double glazing, vacant possession
- To be sold at online auction; chain-free
- Area has high crime and very deprived local indicators
- Potential rent advertised around £650 pcm (investment potential)
A ground-floor, two-bedroom leasehold flat with private front and rear gardens, offered chain-free via online auction. At 477 sq ft the apartment is compact but has straightforward accommodation: lounge, separate kitchen, two bedrooms and a bathroom. The 124-year lease and vacant possession make it an accessible buy for cash buyers or mortgage-ready first-time purchasers.
The property has been newly decorated and benefits from gas central heating and double glazing. It sits in a well-connected part of Bensham with local shops, bus links and schools nearby, and could suit someone seeking an affordable home or an investor targeting a ready-to-let asset (advertised potential rent c. £650 pcm).
Buyers should note the area records high local deprivation and elevated crime levels, which will affect resale and lettability in some market segments. An internal image description also records visible mould/damp in the living room and damage to a light fixture; any purchaser should inspect for damp, ventilation and remedial works despite the recent redecoration.
Sold at auction with standard terms, this lot suits buyers wanting a low-entry purchase and willing to accept area-related challenges or to carry minor repairs. The long lease and private outdoor space are genuine positives for the right buyer, whether first-time purchaser or investor prepared to manage local-market risks.
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