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.
£80,000
2 bedroom Flat for sale, The Avenue, Felling, Gateshead, NE10
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Features and Description
- Two Bedroom Ground Floor Flat
- Ideal For First Time Buyers or Investors
- No Chain Involved
- Approx. Floor Area: 56 sqM or 602.779 sqFT
- Council Tax Band A
- EPC RATING C
Two Bedroom Ground Floor Flat is offered with No Onward Chain. Ideal for first time buyers and investors.
The current tenants are purchasing their own property and are due to vacate on 19th November 2026, providing the opportunity for the property to be available with vacant possession.
Similar apartments in the area typically achieve rents of around £700 PCM, depending on their standard and presentation.
Please note that the flat falls within the Gateshead Selective Licensing Scheme, ensuring compliance with local regulations and providing further details available via the Gateshead Council website.
With a marketing price of £80,000, the property represents an approximate gross rental yield of 10.5%, based on a rental income of £8,400 per annum, subject to the final purchase price.
The flat has a valid EPC until July 2027, an EICR until March 2031 (however, this must be renewed on a change of tenant/owner), and a Gas Safety Certificate until April 2027.
The property comprises an entrance lobby leading to a hallway with storage cupboard. There are two double bedrooms, with the main bedroom to the front featuring a bay window and the second bedroom to the rear.
The spacious lounge provides ample living space, while the kitchen has a built-in oven and gas hob with extractor fan over, space for a fridge/freezer, plumbing for a washing machine, a storage cupboard and a door providing access to the rear.
Externally, the property benefits from a pedestrianised frontage with a lawned garden.
To the rear, there is an enclosed yard with off-street parking, accessed via double gates.
The property benefits from double glazed windows throughout and gas central heating, provided by a Baxi boiler.
We understand the flat is held on a 999-year lease from 10 July 1992, with approximately 965 years remaining. No ground rent or service charges are payable. Full details will be confirmed by the 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.
The Avenue, Felling, Gateshead, NE10
Additional Information
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Property refQLF260521
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EPCC
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TenureLeasehold
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Lease length964 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 £72,000 and repaying over 25 years with a 2.5% interest rate.
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