Hyde Park Street, Bensham, Gateshead, NE8 4QD

Mortgagees in possession are now in receipt of an offer for the sum of £65,000 for 147 Hyde Park Street, NE8 4QD.

Anyone wishing to place an offer on the property should contact Your Move, 449-451 Durham Road, NE9 5EX, before exchange of contracts or within the next 7 days whichever is sooner.

Ground floor flat in need of modernisation. No chain involved. SOLD AS SEEN - including contents.

Similar flats in the area can achieve rental incomes of around £650 per calendar month, depending on the standard of finish.

Based on the asking price of £55,000, this represents an attractive gross rental yield of approximately 14.2%.

With refurbishment and modernisation, there is potential for the property to achieve a value in the region of £80,000, subject to the quality of works completed and prevailing market conditions.

Property is included in the HMO and selective licensing schemes introduced by Gateshead Council in June 2025 (Further details available on request)

We understand the flat falls into Council Tax Band A and is on a Lease of 999 years from 7th December 1990 leaving approx. 964 years remaining at the date of listing with no ground rent or service charges payable (Full details will be confirmed by solicitors)

The property features an entrance lobby leading into a hallway with storage cupboard. There is a spacious double bedroom at the front of the home, as well as a comfortable lounge that includes a feature fireplace. A second double bedroom is located toward the rear.

The kitchen offers plumbing for a washing machine, space for a fridge, freezer and cooker. Door providing access to the shared rear yard.

The bathroom/WC is partially tiled with shower over bath and extractor fan. Additional benefits include gas central heating via a combi boiler and double-glazed windows throughout.

Shared rear yard.

Please note that any services, heating system, or appliances have not and will not be tested and no warranty can be given or implied as to their working order.

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.

QLF260190/2