Apartment 9 Waterloo House, Newcastle upon Tyne, Tyne and Wear, NE1 4AP

Description

2 BED APARTMENT WITHIN CITY CENTRE. Situated in the heart of Newcastle city centre, this apartment presents an excellent opportunity for both investors and owner-occupiers seeking a property in a highly convenient central location. The accommodation comprises a reception hallway, open-plan living and kitchen area, bedroom accommodation and a bathroom, offering practical living space suited to a range of buyers. The property benefits from its central position, with Newcastle's extensive range of shops, restaurants, bars and leisure facilities within easy reach, alongside convenient access to public transport links and the wider city. The property also offers the opportunity for improvement and modernisation throughout.

Accommodation

Reception hallway, open-plan living and kitchen area, bedroom accommodation and bathroom.

Location

Situated in the heart of Newcastle city centre, with shops, restaurants, bars and leisure facilities within easy reach, alongside convenient access to public transport links and the wider city.

Tenure / Property Information

Investment Analysis

Five completed sales recorded at Waterloo House range from £77,000 to £212,000. The spread is substantial and the evidence does not identify the relevant flat numbers, sizes, condition or transaction circumstances. A cautious scenario range of £77,000–£140,000 is used, with £115,000 as a provisional base GDV; the £212,000 sale is treated as an outlier rather than a dependable valuation indicator.

Investment Snapshot

Strategy Recommendation

Conditional BTL at or near the guide price, subject to confirming the achieved rent, lease terms, service charges, legal-pack obligations and total works cost. Do not bid against the provisional GDV without flat-specific valuation evidence.

Works Required

General improvement and modernisation throughout, as indicated by the listing. No specific defects, scope of works or contractor costs are supplied, so a refurbishment budget cannot be quantified.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the provisional £115,000 base GDV, 75% refinancing would be approximately £86,250. A BRRR assessment cannot establish cash left in because refurbishment costs, total acquisition costs, finance costs, service charges and other auction charges are unknown. The wide range of same-building sales also makes the refinance value uncertain.

Buy-to-Let Analysis

The advertised asking rent of £1,200 pcm equates to £14,400 annually and a guide-price gross yield of approximately 21.2%, before the £3,600 admin charge, refurbishment, finance, service charges, insurance, voids and management. This is an asking rent rather than achieved rent, and apartment running costs are not supplied. BTL may be attractive at the guide, subject to legal-pack, lease and rent validation.

Flip Analysis

A flip case cannot be reliably quantified. The provisional base GDV is £115,000, but works are described only generally and no selling allowance, finance cost or complete auction-cost schedule is supplied. The £212,000 comparable materially widens the uncertainty and is not treated as a dependable target value.

Investor Risks & Due Diligence

• Tenure and lease terms are stated to be in the legal pack and remain unverified.

• Comparable sale prices vary materially from £77,000 to £212,000 and are not linked to the subject flat number or specifications.

• The £1,200 pcm figure is an advertised asking rent, not an achieved or passing rent.

• Refurbishment is described only as improvement and modernisation, with no quantified scope or budget.

• The £3,600 admin charge is known, but additional special-condition, legal, search, transfer, buyer-premium and disbursement costs may apply.

• Service charges, ground rent, council tax, parking and heating details are not supplied.

Recommendation

Conditional BTL at or near the guide price, subject to confirming the achieved rent, lease terms, service charges, legal-pack obligations and total works cost. Do not bid against the provisional GDV without flat-specific valuation evidence.

Strategy Rating

Analysis Confidence

There are five completed same-building sales and one advertised rent, but comparable unit details, tenure terms, service charges, condition scope, refurbishment costs and several auction costs are unavailable.