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2 bed flat for sale

£80,000

Tynegate, Sunderland Road, Gateshead NE8

2 1 1
Interested in this property? Call +44 20 3463 2699 * or

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Property features

  • Selection Of Newly Converted 1 & 2 Bedroom Apartments
  • 8% Net Rental Return Assured For 3 Years
  • Fully Fitted
  • 175 Year Lease
  • Hands Free Invesment
  • Cash Buyers Only

Property description

Chad House is a development of 89 apartments consisting of 80 x 1 Bed and 9 x 2 Bed apartments offering investors a net return of 8% assured for 3 years.
Ideally located next to Gateshead Highway with its excellent links to the centre of Newcastle, these apartments in a converted office building will be newly renovated and fitted to the highest standards catering for all the tenants needs. Chad House is situated close to all local amenities including schools, Hospitals and the abundance of bars, shops & restaurants the city has to offer making this the ideal location to purchase a property.
One Bedroom apartments (Approx Size 415 Sq Ft) comprise of; Entrance Hall, Lounge, Kitchen, Good Sized Bedroom & Modern Bathroom. The kitchens come with fitted with a range of wall and base units with complimentary work surfaces, Stainless steel sink unit, built in oven, hob and extractor, fridge freeze, splash back tiling, and sockets.
Two Bedroom Apartments (Approx size 569 Sq Ft) comprise of: Entrance Hall, Lounge, Kitchen, Good Sized Bedrooms & Modern Bathroom. The kitchens come with fitted with a range of wall and base units with complimentary work surfaces, Stainless steel sink unit, built in oven, hob and extractor, fridge freeze, splash back tiling, and sockets.
Service Charge: £575 pa - per apartment
Ground Rent: £350 pa per apartment
Lease: 125 Years From 2017
Cash Buyers Only


Market activity
Average price paid £126,145 Sales 335 Current average value £121,814 (Zoopla Zed-Index) Value change £240 ▲ 0.20%

Property value data/graphs for NE8

Property type Avg. current value Avg. £ per sq ft. Avg. # beds Avg. £ paid (last 12m)
Detached £191,934 £162 3.5 £212,802
Semi-detached £130,838 £144 2.8 £126,052
Terraced £139,606 £133 3.3 £148,328
Flats £105,761 £188 2.2 £103,528

Current asking prices in NE8

Average: £111,277
Avg. current asking prices in NE8
Property type 1 bed 2 beds 3 beds 4 beds 5 beds
Houses - £90,790
(10)
£154,445
(13)
£172,000
(2)
£333,300
(3)
Flats £82,354
(30)
£109,979
(66)
£115,441
(11)
£95,590
(5)
£115,000
(2)
All £82,354
(30)
£107,454
(76)
£136,568
(24)
£117,421
(7)
£245,980
(5)

Current asking rents in NE8

Average: £695 pcm
Avg. current asking prices in NE8
Property type 1 bed 2 beds 3 beds 4 beds 5 beds
Houses £334 pcm
(9)
£605 pcm
(4)
£691 pcm
(11)
£904 pcm
(11)
£923 pcm
(1)
Flats £527 pcm
(29)
£694 pcm
(105)
£824 pcm
(39)
£530 pcm
(3)
£622 pcm
(2)
All £482 pcm
(38)
£691 pcm
(109)
£794 pcm
(50)
£824 pcm
(14)
£722 pcm
(3)

Fun facts for NE8

Highest value in NE8
Highest value streets Zed-Index
West Park Road £256,417
Mill Road £244,643
Claremont Place £220,791
St. Edmunds Court £219,954
Saltwell View £212,483
Highest turnover in NE8
Highest turnover streets Turnover
Durham Road 50.0%
Parson Courtyard 50.0%
Mid Summer Way 43.8%
Ash Street 38.2%
Spring Street 35.7%

What Zoopla users think of Gateshead

Overall rating:

  • currently 4 stars
Very good - 79% (107 ratings)

Ratings breakdown:

  • currently stars
Community & safety
  • currently stars
Entertainment & nightlife
  • currently stars
Parks & recreation
  • currently stars
Restaurants & shopping
  • currently stars
Schools & public services
  • currently stars
Transport & travel

Rate Gateshead:

Tell us what you think of this area by rating these categories.
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Community & safety
  • currently stars
  • 1
  • 2
  • 3
  • 4
  • 5
Entertainment & nightlife
  • currently stars
  • 1
  • 2
  • 3
  • 4
  • 5
Parks & recreation
  • currently stars
  • 1
  • 2
  • 3
  • 4
  • 5
Restaurants & shopping
  • currently stars
  • 1
  • 2
  • 3
  • 4
  • 5
Schools & public services
  • currently stars
  • 1
  • 2
  • 3
  • 4
  • 5
Transport & travel
  • currently stars
  • 1
  • 2
  • 3
  • 4
  • 5

Nearby transport

  • Manors (1.1 miles)
  • Newcastle (1.1 miles)
  • Heworth (1.7 miles)
  • Newcastle Airport (6.7 miles)
  • Durham Tees Valley Airport (31.8 miles)
  • Leeds Bradford International Airport (75.6 miles)
  • Newcastle International Ferry Terminal (6.3 miles)
  • South Shields Ferry Terminal (6.8 miles)
  • North Shields Ferry Terminal (6.8 miles)

Nearby schools

View all schools in Gateshead
  • St Joseph's Roman Catholic Voluntary Aided Primary School, Gateshead (0.3 miles)
  • Gateshead Jewish Primary School (0.4 miles)
  • South Street Community Primary School (0.4 miles)
  • Yeshiva Lezeirim Preparatory Academy (0.4 miles)
  • Gateshead College (0.6 miles)
  • Discovery School (1.3 miles)
  • The Gateshead Cheder Primary School (0.1 miles)
  • Haskel School (0.4 miles)
  • Gateshead Jewish Boarding School (0.6 miles)
Note: Distances are straight line measurements

Local info for Gateshead

About the neighbours in NE8

AskMe Q&A for Gateshead

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For more information about this property, please contact
Ashley Milton, W9 on +44 20 3463 2699 * (local rate)

Monthly running costs Beta

£503 Monthly total

Mortgage

Purchase price
Deposit (10%) 8,000
Repayment term 25
Interest rate 1.5
Your payment £287 /mo How Much Could I Borrow

These results are not provided by NatWest and are only indicative based on a repayment mortgage product. Repayments will be subject to the product provided and your circumstances.

Your home or property may be repossessed if you do not keep up repayments on your mortgage.

Home Insurance

Rebuild value up to £1,000,000 Contents value up to £75,000 Average insurance cost £17/mo (£203/yr)
Compare insurance deals now In partnership with uSwitch
Home insurance costs explained

Home Insurance is based on the average price of a building and contents quote for a property in this area in the last 48 months.

Source: Autonet Insurance Ltd

Energy

Gas £21 Electricity £28 Estimated energy cost £49/mo

Similar properties could save up to £173

How Much Could I Save? In partnership with uSwitch
Energy costs explained

The estimated energy cost for this property has been calculated using actual energy usage data for a property of this type, number of bedrooms and region.

Estimated consumption

Gas: 7300 kWh/year
Electricity: 1900 kWh/year

Source: National Energy Efficiency Data Framework

Council Tax

Local authority

Gateshead

Estimated tax band A Council tax cost £119 /mo
when paid over 10 months
Council tax costs explained

The Council Tax cost displayed is based on the council tax band and on the basis of 2 adults living at the property. The monthly cost shown excludes any discounts and is rounded to the nearest pound.

Full information on Council Tax discount entitlements can be found on the Gov.UK’s website.

Water

Supply £14 Sewerage £17 Estimated water cost £31 /mo
Water costs explained

Water consumption is based on average water usage for the predicted occupancy of the property based on the number of bedrooms.

Total annual consumption (in cubic meters) is then averaged into a monthly cost.

Note: If you have 2 separate suppliers for water and sewage, you may receive 2 separate bills.

Contact Ashley Milton about this property

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Disclaimer

Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by Ashley Milton, and do not constitute property particulars. Please contact Ashley Milton for full details and further information. The Running Costs data displayed on this page are provided by Zoopla to give an indication of potential running costs based on various data sources. Zoopla does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions, related information or Running Costs data provided here.

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