1-bedroom flat · NE26 1BX
For saleListed 2 days
Opportunity summary
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About
A spacious one-bedroom, second-floor retirement apartment at Elderton Place, available through the Older Persons Shared Ownership (opso) scheme at a 75% share.
Featuring a north-facing Juliet balcony with views towards Marine Gardens, a bright lounge, modern open-plan kitchen, double bedroom with fitted wardrobe and contemporary shower room.
Ideally located close to Whitley Bay's picturesque seafront and local amenities.
Development Overview Elderton Place is an attractive Retirement Living plus development exclusively for the over 70s, ideally situated in the popular coastal town of Whitley Bay.
The development comprises a selection of beautifully designed one and two-bedroom apartments, many benefiting from private patios or balconies.
Perfectly positioned to enjoy the best of coastal living, Elderton Place is within easy reach of Whitley Bay’s picturesque seafront, sandy beaches and the iconic Spanish City, which offers a variety of restaurants, cafés and leisure facilities.
Residents benefit from a convenient range of local amenities, including nearby shops and a Co-op on Marine Avenue.
Excellent transport connections are available via Monkseaton Metro station and local bus services, providing easy access to Newcastle and the surrounding areas.
Whitley Bay is renowned for its beautiful coastline, welcoming community and scenic coastal walks.
The famous St Mary’s Lighthouse and its surrounding nature reserve provide a wonderful destination for enjoying the outdoors, wildlife and spectacular sea views.
Combining a desirable coastal location with the reassurance of a welcoming retirement community, Elderton Place offers an excellent opportunity to enjoy an independent and fulfilling retirement lifestyle.
Apartment Overview This spacious second-floor, one-bedroom retirement apartment at Elderton Place enjoys a north-facing aspect with pleasant sea views across Marine Gardens and is available through the Older Persons Shared Ownership (opso) scheme at a 75% share.
The welcoming entrance hallway provides access to all rooms and features a useful walk-in storage cupboard housing a washer/dryer.
The bright and spacious lounge benefits from French doors opening onto a Juliet balcony, offering attractive views across Marine Gardens towards the sea.
An open-plan kitchen features contemporary light grey units and integrated appliances, including an oven, ceramic hob and fridge freezer..
The generous double bedroom enjoys a north-facing window and benefits from a built-in wardrobe, providing useful storage space.
The modern shower room features a walk-in shower with grab rails and fold-down seat, WC, vanity unit and heated towel rail.
Further benefits include electric heating, a secure door entry system and 24-hour Tunstall emergency response facilities, offering comfort, convenience and peace of mind. What Is Shared Ownership?
With Shared Ownership you can have the lifestyle you’ve dreamed of without paying the full price. If you buy a 50% share, you pay rent on the remaining 50% of your property.
If you buy a 75% share you can enjoy the property rent free. Who wouldn’t want 25% off? The Shared Ownership scheme is run in conjunction with Homes England, our government approved partner.
Care & Support The personal care services available at Elderton Place can help you do more of the things you love and enjoy peace of mind when you need a helping hand.
You'll get to know the dedicated cqc registered care and support team who are onsite each day, led by our wonderful Estates Manager.
They can assist with anything from changing your bed and doing your laundry, to escorting you to appointments and helping you get washed and dressed ready for the day.
What's more, the services are flexible, so you can tailor your care package to suit your needs - just speak with the Estates Manager who will be happy to help organise a care package ready for when you move in.
Social Lifestyle The Communal Lounge is at the heart of the community at Elderton Place and is where the majority of social gatherings take place.
Regular activities include; coffee mornings and afternoons, games nights, Chair Yoga, quiz and movie nights.
They're a perfect opportunity to meet your neighbours and make new friends, but there's never any obligation to join in, you can socialise as much or as little as you want.
Additional Information • Full Fibre Broadband available • Mains water and electricity • Electric room heating • Mains drainage • Allocated parking space Service Charge What your service charge pays for: • Estate Manager who ensures the development runs smoothly • cqc Registered care staff on-site 24/7 for your peace of mind • 1 hour cleaning / domestic assistance per week, per apartment • 24hr emergency call system • Monitored fire alarms and door camera entry security systems • Maintaining lifts • Heating and lighting in communal areas • The running costs of the onsite restaurant • Cleaning of communal areas daily • Cleaning of windows • Maintenance of the landscaped gardens and grounds • Repairs & maintenance to the interior communal areas • Contingency fund including internal and external redecoration of communal areas • Buildings insurance, water and sewerage rates The service charge does not cover external costs such as your Council Tax, electricity or TV.
Find out more about service charges please contact your Property Consultant or Estate Manager. Service Charge: £9,290.45 per annum (up to financial year end 28/02/2027).
Ask about our free entitlements service to find out what benefits you may be entitled to.
Leasehold Information 999 years lease from 1st June 2022 Ground rent £0 per annum Ground rent review Jun-37 Moving Made Easy Moving is a huge step, but don’t let that hold you back.
We have a range of services to help your move go smoothly, including: • free Entitlements Advice to help you find out what benefits you may be entitled to.
• Part Exchange service to help you move without the hassle of having to sell your own home. • Removal Services that can help you declutter and move you in to your new home.
• Conveyancing specialists who are experienced with sales and purchases of McCarthy Stone retirement properties. For more information speak with our Property Consultant today.
Value & comps
No previous sales on record.
Returns
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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.
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