Apartment 404, The Bar, St. James Gate, Newcastle Upon Tyne, Tyne and Wear

Description

Leasehold fourth floor flat. Upon instruction of Countrywide.

Accommodation

One bedroom, reception room, kitchen, bathroom/wc

Location

The property is located on St. James Gate, which lies off Scotswood Road. Shops, cafes and restaurants are available within Newcastle City Centre to the north and Gateshead Town Centre to the south. Public transport links are available at Newcastle Train Station and Central Underground Station to the north east, along with local bus services. Road links include the A186 to the north, A167 to the east and A1 to the south west. Recreational pursuits can be found at Summerhill Park and Nuns Moor Park to the north west.

Tenure / Property Information

Investment Analysis

Five HM Land Registry sales are recorded at The Bar, St James Gate, ranging from £92,500 to £156,000, including three sales in 2024 at £92,500, £140,000 and £150,000. The evidence does not identify the comparable bedroom counts, floor areas, condition or specific units, so the valuation range is broad. A cautious base GDV of £140,000 is used, with £92,500 as the low case and £156,000 as the high case. Service charge, ground rent, parking, heating, condition and any seller fees remain unconfirmed.

Investment Snapshot

Strategy Recommendation

Do not bid on yield or refinance assumptions until the legal pack confirms service charge, ground rent, lease terms and seller fees, and the flat has been inspected. The purchase may merit further investigation only if the all-in cost remains comfortably below the supported comparable range.

Works Required

No specific repair or refurbishment works are evidenced. Obtain inspection and lease information before budgeting for works, service charges, ground rent or other liabilities.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the base GDV, 75% refinance proceeds are estimated at £105,000. Total acquisition and project costs cannot be calculated because refurbishment requirements, service charge, ground rent, finance costs and possible seller fees are unknown. The refinance outcome therefore cannot be confirmed.

Buy-to-Let Analysis

BTL analysis cannot be established because no sufficiently specific rental comparable or auctioneer rent estimate is provided. Annual service charge, ground rent and other lease costs are also unknown, so net yield cannot be assessed.

Flip Analysis

The same-development sales provide a broad GDV indication, but the comparable unit specifications and subject condition are not supplied. A reliable flip surplus cannot be calculated because works, total costs and selling allowances are unsupported.

Investor Risks & Due Diligence

• Comparable sales do not state bedroom count, floor area, condition or exact unit, creating substantial valuation uncertainty.

• Annual service charge and ground rent are unconfirmed.

• Seller fees may be payable under the Special Conditions of Sale but are not supplied.

• No sufficiently specific rental evidence is available, preventing yield assessment.

• Property condition and any required works are not evidenced.

• Parking and heating arrangements are unconfirmed.

• Lease details should be verified despite the stated 102 years remaining.

Recommendation

Do not bid on yield or refinance assumptions until the legal pack confirms service charge, ground rent, lease terms and seller fees, and the flat has been inspected. The purchase may merit further investigation only if the all-in cost remains comfortably below the supported comparable range.

Strategy Rating

Analysis Confidence

There is useful same-development completed-sale evidence and a stated lease term, but comparable specifications, rental evidence, condition, service charge, ground rent, parking, heating and possible completion fees are unavailable.