Foster Drive, St James Village, Gateshead, NE8 3JG

Two-bedroom Top Floor Flat in a sought-after location. No Chain Involved. Investors Only.

Currently let at £825 per calendar month, the property offers an excellent investment opportunity with a tenant in situ.

Based on the asking price of £92,500, the current annual rental income of £9,900 represents an attractive gross rental yield of 11%, subject to the final purchase price.

The flat has a valid EPC until February 2032, EICR until October 2030 and Gas safety certificate until October 2036.

The property benefits from an open plan lounge with Juliet balcony and kitchen with integrated oven and hob with extractor over.

The bathroom is complimented with a bath with overhead shower, wash hand basin and w/c.

There are residents and visitors parking spaces within the location.

We understand the property is on a 125 year lease from January 2002 leaving approx. 101 years remaining at the time of listing. Ground Rent is £100 and Service Charge of £1496.88 per annum or £124.74 per month. Please note we have not inspected the head lease.

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 & TENANTS: 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 traveling some distance to view. POTENTIAL PURCHASERS: Fixtures and fittings other than those mentioned are to be agreed with the seller. POTENTIAL TENANTS: All properties are available for a minimum length of time, with the exception of short term accommodation. Please contact the branch for details. A security deposit of at least one month’s rent is required. Rent is to be paid one month in advance. It is the tenant’s responsibility to insure any personal possessions. Payment of all utilities including water rates or metered supply and Council Tax is the responsibility of the tenant in most cases.

QLF250296/2