2-bedroom flat · NE1 3RJ
For saleListed 141 days
Opportunity summary
See Archie’s verdict, returns by strategy and what to check before viewing.
About
**Penthouse Apartment**21ft South Facing Walk-Out Balcony**Dedicated Underground Parking Space**On-Site Concierge** An impressive penthouse apartment ideally located for access to Newcastle City Centre amenities, and Quayside restaurants and bars.
Exceeding 820 square feet, the apartment enjoys a Communal Entrance with lift access, and includes a Private Reception Hall with built-in storage, a 21ft open-plan Reception Room incorporating Living and Dining Areas and a recently remodelled Kitchen, a Main Double Bedroom with built-in wardrobes and an En-Suite Shower Room, a Second Double Bedroom, and a Bathroom.
Available with no onward chain, the apartment further benefits from front and rear balconies, double glazing, and electric heating.
Material Information: Council Tax Band - D Tenure - Leasehold Lease Length Remaining - 103 years Service Charge - £2,400 per annum to include management fee, concierge, communal areas, underground car park upkeep, garden areas, cleaning, reserve fund contributions Ground Rent - £250 per annum Parking - Resident Parking Space Cladding - Currently being remediated, completion September/October 2026 Management Company details - Block Living Restrictions - No subletting/short let style
Value & comps
No previous sales on record.
Returns
Set an offer; the calculator follows it.
We're still gathering serviced-accommodation data for this area.
Archie refurb estimate: a Pro feature
0.0% below asking
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Deal
Properties like this can earn 2–3x BTL yields when converted to HMO, with retrofit costs around £10k/room. Sign in to see the full tier, yield projection, and cost breakdown.
Commercial properties like this can earn 30-50% higher yields when converted to residential under Class MA / Q / P / PA, with prior approval costing ~GBP 96/unit. Sign in to see the recommended route, yield uplift, and cost breakdown.
BRRR-suited properties can recycle 80-100% of investor capital on refi, leaving a high-yielding rental with most of the money out. Sign in to see the refurb cost stack, ARV projection, and refinance maths.
Detached + large garden = sub-division play. Pro tier unlocks the tier badge, plot size, uplift estimate, and regional land benchmark.
Short-lease flats trade at deep discount, but extending under the 1993 Act often costs far less than the discount. Pro tier unlocks the tier badge, premium breakdown, long-lease ARV and arbitrage maths.
See projected short-stay revenue vs a vanilla BTL for this property.
See real sub-let margins (HMO room rates & SA nightly rates) vs the landlord rent.
Area
Agent & docs
FAQ
About Apartment 23, 58, Close, Tyne and Wear
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