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.
£70,000
2 bedroom Flat for sale, Leeming Gardens, Sheriff Hill, Gateshead, NE9
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Features and Description
- Two Bed Ground Floor Flat
- No Chain Involved
- Investment Opportunity
- Approx.. Floor Area: 72 sqM or 775 sqFT
- Council Tax Band A
- EPC RATING C
Spacious ground floor flat ideal for investors or owner-occupiers. No onward chain.
Based on an estimated rental income of up to £800 per calendar month (£9,600 per annum), the property offers a strong gross yield of approximately 13.7% against the asking price of £70,000.
A valid EPC Grade C until June 2032 stands as a testament to the property's energy efficiency and an EICR until January 2028.
A valid EPC Grade C until June 2032 stands as a testament to the property's energy efficiency and an EICR until January 2028.
The accommodation opens into an entrance hall with a large storage cupboard. To the rear are two well-sized double bedrooms. The bathroom/Wc includes a bath with shower over, heated towel rail and extractor fan.
The living and dining area is a particular highlight, benefitting from a large open-plan layout that provides ample space for both relaxation and entertaining.
The kitchen is fitted with a built-in oven, electric hob with extractor fan above, and a range of storage units, along with an additional storage cupboard.
A separate utility room offers plumbing for a washing machine and space for further white goods.
Externally, residents have access to communal gardens which are mainly laid to lawn and fully enclosed.
Gas central heating system via Atlantic combination boiler fitted in 2023 and double glazing.
On-street permit parking a modest £35 per year.
The property holds a 125-year lease from 1995, boasting approximately 93 years of lease term. An annual ground rent of £10 and a monthly service charge of approximately £40. (We have been verbally advised these details from the seller and the full details of the lease 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.
Leeming Gardens, Sheriff Hill, Gateshead, NE9
Additional Information
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Property refQLF250436
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EPCC
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TenureLeasehold
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Lease length93 years
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Council TaxA
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Ground Rent£120
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Ground Rent ReviewContact the branch
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Service Charge£480
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 £63,000 and repaying over 25 years with a 2.5% interest rate.
Now you know what you could be paying, book an appointment with our partners Embrace Financial Services to find the right mortgage for you.
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