Summary - 167, Collingwood Court NE37 3EF
1 bed 1 bath Apartment
Immediate rental income and long lease ideal for cashflow-focused buyers.
One bedroom apartment with sitting tenant paying £450pcm
A compact one-bedroom apartment offered via online auction with an existing sitting tenant paying £450pcm, providing immediate rental income. At a guide price of £20,000 the property produces a very high gross yield (around 27%), making it attractive to investors seeking short-term cashflow.
The flat sits in a mid-terrace block constructed in the late 1960s/early 1970s, with modern interior fittings visible in the bedroom and kitchen and double glazing (unknown install date). The long lease (999 years) and low ground rent are positives, but note the annual service charge of £1,389 and auction fees will affect net returns.
Material drawbacks are clear: the area is classified as very deprived with high local crime — factors that influence tenant quality, resale prospects and insurance costs. EPC rating D and assumed cavity walls without added insulation may mean energy running costs are higher than newer stock.
This is a straightforward, income-led purchase for investors who accept higher area risk in exchange for strong current yield and a long lease. Buyers should budget for auction fees, carry costs, and check tenancy details, service charge accounts and any required maintenance before bidding.
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