Summary - 3A COLLINGWOOD STREET GATESHEAD NE10 9NA
1 bed 1 bath Flat
Investment-friendly, chain-free one-bedroom flat with long lease and garden..
- Previously let at £600pcm; indicative gross yield ~13%
- One double bedroom, living room with French doors to garden
- Large enclosed rear garden, mainly lawn with patio
- Basement-floor apartment; check light and ventilation
- Long lease remaining (approx. 987 years), leasehold tenure
- EPC rating D; sandstone walls likely uninsulated
- Very high local crime and very deprived area classification
- Chain-free sale; council tax Band A (low)
A one-bedroom basement flat offering strong rental potential and an unusually long lease. Previously let at £600pcm, the current asking price produces an indicative gross yield of about 13%—appealing to investors and cash-ready first-time buyers seeking an entry-level purchase.
The layout includes an entrance lobby, kitchen with storage and washing machine plumbing, a double bedroom, a partly tiled bathroom with shower-over-bath, and a living room with French doors onto a substantial enclosed rear garden. Heating is by a Potterton gas combi boiler and windows are double glazed.
Buyers should note this is a leasehold basement apartment in a very deprived area with a very high local crime rate; the property sits within a hampered-neighbourhood classification. The flat has an EPC rating of D and older sandstone walls with assumed no insulation—improvement and maintenance works may be needed to modernise and reduce running costs.
Practical positives include a long remaining lease (approx. 987 years), no reported ground rent or service charge on listing information, low council tax (Band A) and good local broadband and mobile signal. Chain-free sale simplifies timing, but purchasers are advised to verify service-charge and legal details with solicitors and to arrange surveys due to construction age and basement location.
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