50, Benwell Close, NEWCASTLE UPON TYNE, Tyne and Wear, NE15 6RZ

Description

Located within the Benwell Grange complex, within the main block of flats is this first floor one bedroom flat. Situated within the residential area of Benwell lying to the northeast of Newcastle city centre where you can find a wide range of different amenities. The property is served by public transport bus routes for travelling into the city centre as well as surrounding districts. Easily accessible by car or public transport is the Metro Centre, Retail Park and A1 M Motorway for travelling further afield. The property is fitted with electric heating and would benefit from a programme of modernisation throughout. This style of purchase would suit an investor looking for something to add value to and sell on or use as a buy to let. Accommodation: Communal Areas: Entrance Hall with Stairs and Lift to upper floors. Flat: Hall, Lounge, Kitchen, Storage Area, Bedroom and Bathroom. External: Communal Grounds including Communal Parking.

Location

Property located at 50, Benwell Close, NEWCASTLE UPON TYNE, Tyne and Wear, NE15 6RZ.

Investment Analysis

Investment Snapshot

Property & Refurbishment

Initial feasibility allowance: £5,000–£10,000. This is not a contractor quotation and should be confirmed following inspection and detailed scope.

Rental Analysis

The auctioneer-published rent identified in the source is approximately £10 per annum.

GDV / Resale Analysis

No independent RICS/Land Registry comparable valuation has been inserted solely from the scraped auction data. End value should be confirmed against recent genuinely comparable transactions before bidding.

Properties Sold Within Approx. 5 Miles

No independently verified sold comparables are inserted from the auction scrape alone. Confirm recent Land Registry/RICS comparable evidence before relying on a GDV.

Investor Risks & Due Diligence

• Review the full legal pack and title before bidding

• Confirm all auction administration / contract charges

• Verify property condition and obtain appropriate surveys

• Confirm refurbishment costs with contractor quotations

• Confirm lease length, ground rent, service charge and major works

Recommendation

Preferred strategy: Buy-to-Let / Owner-Occupier. This recommendation is an initial appraisal based on the auctioneer's published property information and should be tested against the legal pack, inspection, finance and local market evidence.

Strategy Rating

Buy-to-Let: ★★★★☆

BRRR: ★★★☆☆

Flip: ★★★☆☆