Summary - THE COTTAGE REAR OF, DEVONSHIRE PLACE NE2 2ND
9 bed 3 bath Terraced
Long-let nine-bedroom property with immediate rental income and refurbishment upside.
- Freehold nine-bedroom terraced property, total 2,278 sq ft
- Two lets: 3-bed ground flat and 6-bed upper maisonette (let to Aug 2026)
- Current income £50,000 pa — approx. 7.4% gross yield
- Gas central heating, double glazing, rear yard
- Solid brick walls likely uninsulated; thermal upgrades recommended
- Timber-framed windows of unknown age may need replacement
- Very small plot and on-street permit parking only
- Located in student-dominated area; local crime above average
This freehold mid-terrace in Jesmond is offered as a two-unit investment: a three-bedroom ground floor flat and a six-bedroom upper maisonette, producing £50,000 pa (7.4% gross yield) and let until August 2026. The property totals nine bedrooms across 2,278 sq ft, with gas central heating, double glazing and a private rear yard. High ceilings and Victorian bay windows give period character appealing to student or young-professional lettings.
The building has solid brick walls likely without cavity insulation and timber-framed windows of unknown age; some thermal and maintenance upgrades should be expected. Plot size is very small and parking is on-street with permit controls. The property sits in a busy, cosmopolitan student neighbourhood with above-average local crime — factors to weigh when planning future lettings or refurbishment.
For investors the immediate income and long-let status until 2026 offer secure cashflow and a straightforward HMO-style layout. Potential upside exists from targeted refurbishment, improved insulation and window replacement to reduce running costs and increase rental value. Buyers seeking a hands-on refurbishment or portfolio addition in a well-connected, amenity-rich area will find this a practical opportunity, while those wanting a low-touch asset should budget for ongoing management and periodic upgrade work.
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