Summary - 60, SPOOR STREET, GATESHEAD NE11 9BD
2 bed 1 bath Apartment
Auction sale with rental upside and a 998-year lease.
Ground-floor two-bedroom apartment, approx. 530 sq ft
A two-bedroom ground-floor apartment offered for sale via online auction, currently let and positioned for rental investors. The property sits in a Victorian terrace with a long lease (998 years) and compact overall size of approximately 530 sq ft. Its location in Dunston provides strong transport links to the A1 and Metrocentre and several well-rated schools within easy reach.
The flat is currently producing £500pcm but the seller notes a potential rent of around £650pcm, giving clear scope to increase income. Accommodation includes a lounge, fitted kitchen, bathroom, a large bay-front double bedroom and a smaller single bedroom. There is a shared rear yard and ground-floor access, which can be attractive for certain tenants.
The apartment requires modernisation — decor is dated and there will likely be maintenance and refurbishment costs to bring it to a higher rental bracket. The area scores as deprived with average crime and basic local amenities; this is reflected in current rental levels. Important sale details: leasehold tenure and auction terms apply, so buyers should factor in auction fees, conveyancing speed and tenant-related considerations before bidding.
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