Flat for sale in Gerald Street, Benwell, Newcastle Upon Tyne NE4

Investment Opportunity

For sale by auction as an investment opportunity is this ground floor flat located in Benwell. The accommodation briefly comprises of entrance lobby, entrance hall, living room, kitchen, two bedrooms and bathroom. Externally there is a yard to the rear. The property benefits from double glazing throughout.

The property is currently tenanted, achieving an income of £580pm (£6,960 per annum), we have had sight of the tenancy agreement. The tenant has verbally advised that they have been here since 2012 and wish to remain.

The property is situated close to local public transport routes to and from Newcastle city centre, the MetroCentre, and easy access to the A1 and A69.

Early viewing is recommended.

Council Tax Band: A

EPC Rating: C

Primary services supply

Electricity: Mains

Water: Mains

Sewerage: Mains

Heating: Gas

Broadband: Fibre

Mobile Signal Coverage Blackspot: No

Parking: On Street Parking

Mining

It is not known if the property is situated on a coalfield. It is also not known if the property has been directly impacted by the effect of other mining activity. The North East region is famous for its rich mining heritage and confirmation should be sought from a conveyancer as to its effect on the property, if any.

Tenure

It is understood that this property is leasehold. Should you decide to proceed with the purchase of this property, the Tenure and associated details and costs must be verified by your Legal Advisor before you expend costs.

Length of Lease: 992 years remaining as at August 2024

No ground rent or service charge.

For Sale by Auction: Monday 30th September 2024

Option 1

Terms and Conditions apply

Each auction property is offered at a guide price and is also subject to a reserve price. The guide price is the level where the bidding will commence. The reserve price is the seller’s minimum acceptable price at auction and the figure below which the auctioneer cannot sell. The reserve price, which may be up to 10% higher than the guide price, is not disclosed and remains confidential between the seller and the auctioneer. Both the guide price and the reserve price can be subject to change up to and including the day of the auction. The successful buyer pays a £2000+VAT (total £2400) Auction Administration Fee.

Joint Agents: The Agents Property Auction Ltd

Terms and conditions apply see website www. Agents Property Auction. Com

Entrance Lobby

Entrance Hallway

Built in understair cupboard.

Bedroom One (17' 0'' x 13' 10'' into bay (5.18m x 4.21m))

Double glazed bay window to the front. Radiator.

Bedroom Two (10' 8'' x 8' 2'' (3.25m x 2.49m))

Double glazed window to the rear. Radiator.

Lounge (14' 3'' x 10' 10'' (4.34m x 3.30m))

Double glazed window to the rear. Radiator.

Kitchen (12' 0'' x 7' 0'' (3.65m x 2.13m))

Double glazed window. Sink/drainer. Plumbed for washing machine. Electric cooker point. Radiator. Door to the rear.

Bathroom

Double glazed window. Bath with shower over. Pedestal wash hand basin. Low level WC. Radiator.

External

Yard to the rear.