Summary - HANOVER MILL APARTMENT 58 HANOVER STREET NEWCASTLE UPON TYNE NE1 3AB
2 bed 1 bath Apartment
Central Quayside flat with parking, tenant in place and strong rental potential..
- 2 bedrooms, one with en suite shower room
- Open-plan kitchen, dining and living area, 807 sq ft
- Resident off-street parking and secure communal entrance
- EPC B (82) and double glazing throughout
- Heating: electric storage heaters (no gas central heating)
- Lease remaining circa 105–108 years; leasehold tenure
- Service charge approx £3,000pa; ground rent £389pa
- Very high local crime rate; student neighbourhood noise possible
A two-bedroom, open-plan apartment in Hanover Mill on Newcastle’s Quayside, offered as an auction purchase with immediate income potential. The flat measures about 807 sq ft, has an EPC B (82), double glazing and resident off-street parking. One bedroom has an en suite; the principal living space combines kitchen, dining and lounge for a modern, low-maintenance city home.
This unit suits investors and first-time buyers seeking central location and rental demand close to offices, universities and Newcastle Central Station (approx. 5-minute walk). The building provides secure communal entry, lift access and straightforward electrical mains services; broadband and mobile signal are strong in the area.
Important practical points: heating is by electric storage heaters and mains electricity (no communal gas). The lease has long term remaining (circa 105–108 years as stated). Annual service charge is around £3,000 and ground rent is £389 per year. The property will be sold by auction under the Modern Method of Auction — bidders must allow the reservation fee and related auction costs and complete within the reservation period.
Location benefits come with trade-offs: the wider neighbourhood is a cosmopolitan, student-oriented area with very high recorded crime and signs of local deprivation. The flat is sold with a current tenant in situ until June 2024, which supports immediate rental income but limits vacant-possession viewings and immediate owner occupation.
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