Flat 15 Sloane Court, Newcastle upon Tyne, Tyne and Wear, NE2 4PF

Description

Available at auction is this three bedroom first-floor leasehold apartment located close to Newcastle city centre and both universities. The accommodation has a communal entrance, private hallway, lounge, fitted kitchen, two double bedrooms including a main bedroom with en-suite shower room, a third single bedroom and a bathroom. The property also benefits from one allocated parking space. The property is perfect for owner-occupiers and investors and is popular with local students. PLEASE NOTE: the apartment is sold as seen and will come with furniture included. Tenure: Leasehold EPC Rating: C

Accommodation

The supplied particulars indicate approximately 3 bedroom accommodation. Room layout, floor areas and dimensions should be confirmed from the auctioneer particulars, floor plan and inspection.

Location

Located in Newcastle upon Tyne, Tyne and Wear. Investor due diligence should test local transport, employment, amenities and tenant demand at the exact micro-location. Cross-check the postcode and legal title before bidding.

Investment Analysis

The figures below separate auctioneer/source facts from HB indicative estimates. HB figures are screening assumptions only and are not a RICS valuation, contractor quotation or lending decision.

Investment Snapshot

Strategy Recommendation

The initial strategy should be tested against condition, legal structure, works, rental evidence and comparable values before setting a maximum bid. The screening case depends on achieving a sufficient margin or sustainable income after all acquisition and holding costs.

Works Required

• Review complete building/property condition

• Electrical and heating inspection

• Allow for decoration and repairs where required

• Review service charge and major-works liabilities

Rental & Market Context

HB screening rent is approximately £600–£800 pcm (£7,200–£9,600 pa). Replace this with current local letting evidence. No reliable current rent was extracted from the supplied source.

Sold within approximately 5 miles

Reliable sold-property comparables were not collected from the supplied scrape. Check recent Land Registry evidence and closely comparable sold listings within approximately five miles, prioritising the same property type, size, tenure and condition.

Potential BRRR Position

Illustrative 75% refinance on the HB indicative value range is about £79,500–£91,500 against purchase + works of approximately £103,000–£110,000. Actual refinance depends on valuation, works, finance costs, rental stress testing and lender criteria.

Flip Analysis

The initial gross value spread is approximately £-4,000–£19,000 before acquisition/disposal costs. This is not profit and excludes SDLT, auction/admin fees, legal costs, finance, holding costs, insurance, utilities, professional fees, selling fees, contingency and tax.

Investor Risks & Due Diligence

• Review legal pack, title and special conditions

• Confirm auction fees and completion period

• Obtain survey and works quotations

• Verify finance before bidding

• Check rental and sold comparable evidence

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

Recommendation

Initial recommendation: Buy-to-Let. Proceed only if the legal pack, condition, costs and local evidence support the required margin/yield. Treat the guide as a starting point rather than a valuation and set a disciplined maximum bid after due diligence.

Strategy Rating

• Buy-to-Let: ★★★★☆

• BRRR: ★★★☆☆

• Flip: ★★★☆☆