Summary - 8 WATERLOO PLACE, NORTH SHIELDS NE29 0NA
4 bed 1 bath Apartment
Two flats on one freehold title — tenants in situ, cash buyers only.
Freehold pair of flats sold as one title, ideal for investors
A freehold mid-terrace building offered as a single title containing two flats: a ground-floor two-bedroom and a four-bedroom upper maisonette. The pair are sold with tenants in situ — one on an Assured Shorthold Tenancy (AST) and the other a protected tenancy — so this is primarily an investor purchase, cash buyers only. The property sits near local amenities, transport links and Tynemouth Village, giving strong rental demand potential by the coast.
Interiors show period features such as a bay window and fireplaces but the overall condition is mixed and will need updating. Accommodation is compact (total approx. 635 sq ft noted) with only one bathroom across the building and a shared large rear yard. Energy performance and glazing are basic double glazing; solid brick walls are likely uninsulated, so factor in thermal upgrades for long-term running costs.
At the listed price of £250,000 the block offers scope for rental uplift once tenancies are re-based or after refurbishment. The location in a low-crime, affluent pocket with fast broadband and excellent mobile signal supports both lettability and capital appeal. Important negatives: cash-only sale requirement, tenants in place (one protected tenancy limiting immediate rent reviews), and likely renovation works to modernise kitchens, bathrooms and insulation.
This is suitable for investors seeking an income-producing coastal terrace with immediate revenue, or for a buyer willing to carry refurbishment work to increase capital value and rents. Expect to budget for modernization, potential legal/possession complexity with the protected tenancy, and standard Victorian-period maintenance.
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