Summary - 2 GROVE PARK OVAL GOSFORTH NEWCASTLE UPON TYNE NE3 1EG
1 bed 1 bath Flat
Ready-made rental income in a modern, low-rise development ideal for investors.
Current annual gross income £11,940 (approx £995 pcm)
Immediate income with long-term sitting tenant
Approximately 7.0% gross yield at £170,000 asking price
Leasehold tenure; confirm lease length and charges
Shared off-street parking and communal landscaped frontage
No internal photos or floorplans supplied; inspection advised
Buyers Premium will apply on sale completion
Higher local crime levels; consider insurance and tenant risk
A one-bedroom leasehold flat in a modern low-rise block on Grove Park Oval presented as a buy-to-let opportunity. The property currently produces £11,940 pa (£995 pcm), equating to approximately a 7.0% gross yield at the asking price of £170,000. It sits in a well-maintained development with balconies, communal landscaping and shared off-street parking that supports steady rental demand.
This is offered with a long-term tenant who wishes to remain, creating immediate income and minimal vacancy risk for a purchaser seeking an income-producing asset. The location benefits from fast broadband, excellent mobile signal and proximity to schools and local amenities — appealing to professional renters in the NE3 area.
Key investor considerations: the property is leasehold, sold with a sitting tenant, and the listing flags a Buyers Premium to secure the sale. There are no internal photos included and no floorplans provided, so buyers should inspect to confirm condition and layout before purchase. The local area shows higher-than-average crime levels, which may affect insurance costs or tenant demand in certain segments.
This lot suits a buyer wanting immediate rental income and a hands-off holding within a modern development. For valuation and underwriting, obtain the Let Property Pack, tenancy documentation, floorplans, and recent service charge and ground rent figures.
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