Summary - BALTIC QUAY 47 MILL ROAD GATESHEAD NE8 3QW
1 bed 1 bath Flat
High-yield flat with tenant in place and communal parking for buy-to-let portfolios.
- One-bedroom flat with lounge, kitchen/office area and three-piece bathroom
- Tenant in situ paying £9,780pa; reliable payments for one year
- Gross yield about 9.1% at the current asking price
- Communal front garden and off-street communal parking available
- Long lease: 228 years remaining (leasehold)
- Located in inner-city, multicultural student neighbourhood (good rental demand)
- Area classified as deprived with very high crime rates
- Buyer’s premium payable; review Let Property Pack and tenancy details
A compact one-bedroom flat in a modern riverside-style block on Mill Road, offered with a tenant in situ. The current tenant has occupied the property for a year and pays reliably, producing an annual gross income of £9,780 (approximately 9.1% gross yield at the current asking price).
The apartment sits in a well-kept development with communal landscaped front gardens and off-street communal parking. The long lease (228 years remaining) and fast broadband/excellent mobile signal make the unit straightforward to let to students or young professionals in this inner-city, multicultural area.
Buyers should note this area records very high crime levels and is classified as deprived; these local factors may affect lettings, insurance costs and long-term capital growth. The property is leasehold and a buyer’s premium is applied to secure purchase; interested parties should review the Let Property Pack and tenancy paperwork before offer.
Overall, this is a clear buy-to-let opportunity for investors seeking immediate income and strong headline yields, especially those experienced in letting in inner-city student neighbourhoods or comfortable managing tenant-in-place purchases.
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