This calculator provides a guide to the amount of residential stamp duty you may pay and does not guarantee this will be the actual cost. This calculation is based on the Stamp Duty Land Tax Rates for residential properties purchased from 23rd September 2022 and second homes from 31st October 2024. For more information on Stamp Duty Land Tax, click here.
£90,000
2 bedroom Flat for sale, Springfield Terrace, Felling, Gateshead, NE10
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Features and Description
- Two Bedroom First Floor Flat
- Ideal For First Time Buyers or Investors
- Modern Interior
- Approx. Floor Area: 66 sqM or 710.41 sqFT
- Council Tax Band A
- EPC RATING D
Attractive first-floor flat features a modern interior and two spacious double bedrooms, making it an excellent opportunity for first-time buyers or investors.
The property has been improved by the current owner back in 2023, including new carpets, internal doors, radiators and fresh decoration throughout in a contemporary style. A full electrical rewire was also completed.
The layout begins with an entrance lobby and staircase leading to the first floor, where there is also access to the loft via a ladder, providing useful additional storage space with lighting installed.
At the front of the property are two generously sized double bedrooms. The open-plan lounge and dining area, featuring a TV mount with shelving on either side and ample room for both comfortable seating and a dining table.
The modern kitchen is partially tiled and well equipped with a built-in oven, gas hob, and integrated appliances including a washing machine, fridge, and freezer.
The contemporary shower room/Wc includes a walk-in shower, heated towel rail, and spot lighting, finished to a modern standard.
From an inner hall, stairs lead down to the enclosed rear yard. The yard is shared and provides access to the rear of the property.
Properties in the area typically achieve rental income of around £800 per calendar month (£9,600 per year). Based on the asking price of £90,000, this represents an approximate gross rental yield of 10.7%, making it a particularly appealing option for investors as well as owner occupiers.
Gas heating system via combi boiler and double glazing.
We understand the flat is on a Tyneside Lease of 999 years from 2nd June 1987 leaving approx. 960 years remaining at the date of listing with no ground rent or service charges payable (Full details will be confirmed by solicitors)
MAKING AN OFFER Please note that all offers will require financial verification including mortgage agreement in principle, proof of deposit funds, proof of available cash and full chain details including selling agents and solicitors down the chain. Under New Money Laundering Regulations we require proof of identification from all buyers before acceptance letters are sent and solicitors can be instructed.
IMPORTANT NOTE TO POTENTIAL PURCHASERS:
We endeavour to make our particulars accurate and reliable, however, they do not constitute or form part of an offer or any contract and none is to be relied upon as statements of representation or fact. The services, systems and appliances listed in this specification have not been tested by us and no guarantee as to their operating ability or efficiency is given. All photographs and measurements have been taken as a guide only and are not precise. Floor plans where included are not to scale and accuracy is not guaranteed. If you require clarification or further information on any points, please contact us, especially if you are travelling some distance to view. Fixtures and fittings other than those mentioned are to be agreed with the seller.
Springfield Terrace, Felling, Gateshead, NE10
Additional Information
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Property refQLF260119
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EPCD
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TenureLeasehold
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Lease length960 years
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Council TaxA
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Ground RentContact the branch
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Ground Rent ReviewContact the branch
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Service ChargeContact the branch
Do you have a property you need to sell?
Your Move Estate Agents Low Fell
Your Move Low Fell
Durham House 449-451 Durham Road, Low Fell, Gateshead, NE9 5EX
Mon - Fri09:00 - 17:00Saturday09:00 - 13:00SundayClosed
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Borrowing £81,000 and repaying over 25 years with a 2.5% interest rate.
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