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See how verdicts work1-bedroom flat · NE3 1LL
Listing removedReduced £10k (−40%) on 22 AugListed 101 daysAuction 2 Sep · ended
Opportunity summary
See Archie’s verdict, returns by strategy and what to check before viewing.
About
For sale by auction - 6PM on Wednesday 2nd September 2026. A light and spacious one bedroom retirement apartment within the popular Homeforth House 'McCarthy-Stone' development in Gosforth.
The accommodation would undoubtedly benefit from modernisation and includes a minimum age restriction of 60.
There is an on-site manager, lift access to all floors, a shared resident lounge, laundry facility and also a guest suite. Externally is resident and visitor parking and well tended communal gardens.
The location is ideally placed for convenient access to a number of local amenities and excellent transport links.
Viewings are highly recommended - there is no forward chain Entrance Hall Built-in storage cupboard Lounge-Diner (3.22m x 3.91m, 10'6" x 12'9") Double glazed 'picture' window, Night storage heater Kitchen (1.78m x 2.23m, 5'10" x 7'3") Wall and floor units with laminate work surfaces over, Sink and drainer unit, Electric cooker point, Space for fridge/freezer Bedroom (2.65m x 3.71m, 8'8" x 12'2") Double glazed window, Night storage heater, Built-in wardrobe Bathroom (1.71m x 2.08m, 5'7" x 6'9") Bath, Wash hand basin with vanity unit, WC, Wall mounted heater, Extractor fan Communal Areas Resident lounge, laundry room and a Guest/Visitor Suite.
Lift and staired access to all floors External Resident and Guest car park, Communal gardens On-Site Manager Whilst this building is set-up for independent living, there is a full-time manager on-site to assist with the day-to-day running.
Each flat is also fitted with a 24-hour Apello 'emergency pull-cord system' Services & Charges Mains electricity, water and drainage. Council tax band A. EPC B rated.
Ground Rent: £454.40pa Service Charges: £2,359.58pa Tenure Leasehold.
(58 years remaining to 31st August 2084) Important Information All bidders are strongly recommended to have thoroughly inspected any property prior to bidding, including seeking the advice of a surveyor, and to have read the Legal Pack and taken advice from a qualified legal representative.
Please read carefully the general and special conditions of sale and any changes within the sale.
A&G can accept no responsibility for any bidders not adhering to this advice Disclaimer Our property particulars are intended to give a fair description of the property but their accuracy cannot be guaranteed, & they do not constitute an offer of contract.
Intending purchasers must rely on their own inspection of the property and services. None of the appliances/services have been tested by ourselves.
We recommend purchasers arrange for a qualified person to check all appliances/services before legal commitment.
Floor plans provided are not to scale and are intended as a guide only Legal Pack The legal pack for this property is available upon request prior to the auction.
This pack includes a variety of legal documents that apply to the sale.
The legal pack can change at any time up until the auction starts so you must check for the most recent version of the legal pack.
At the point of placing your bid, you are deemed to have read the legal pack in its entirety, including any changes.
Failure to check for changes to the legal pack will not be a valid reason for withdrawing from the sale.
It is strongly recommended that you instruct a qualified professional to review the legal pack and raise any necessary enquiries before bidding Special Conditions Of Sale The property is sold subject to any Special Conditions of Sale.
These are contractual conditions that are included by the seller of the property - they are not part of A&g's terms and conditions. The Special Conditions of Sale are legally binding.
It is the buyers responsibility to have read and accepted these at the point of bidding, even if you have not done so.
The Special Conditions of Sale are available to read within the legal pack Guide & Reserve Price This property is offered at a guide price of £50,000 - £55,000+ and may also be subject to a reserve price.
The reserve price is the sellers minimum acceptable price at auction and the figure below which the auctioneer cannot sell.
The reserve price, which may be up to 10% higher than the guide price, is not disclosed and remains confidential between the seller and the auctioneer.
Both the guide price and the reserve price can be subject to change up to and including the day of the auction Auction Date & Venue 6PM on Wednesday 5th August 2026 at Anderson House, Crispin Court, Newbiggin Lane, Westerhope, Newcastle upon Tyne, NE5 1BF Register To Bid In order to bid, you will need to register in advance of the auction.
You can do this online at or in person prior to the auction day or in person at our auction venue.
Please aim to get there at least 45 minutes before the start of the auction to ensure you have time to register before the auction begins Bidding You are able to bid in person at the auction venue.
When you arrive, collect a copy of the addendum sheet to check for any last minute updates on the lot.
If you are unable to attend the auction in person, but are available during the time of the auction, you can choose to bid by telephone. You can also choose to bid by proxy.
Please speak with a member of our team if you wish to bid by phone or proxy Buyers Administration Charge A non-refundable Administration Charge of £1,950+vat (£2,340 inc.
VAT) is payable by the winning bidder on the fall of the hammer Money Laundering Regulations All purchasers will be asked to produce the required identification documentation, proof of address and proof of legitimate funds in order to comply with the Money Laundering Legislation.
We would ask that these documents are made available to us so that there will be no delay in agreeing the sale Buyers Deposit & Insurance On the day of the auction, all purchasers will be required to pay 10% of the purchase price (subject to a minimum amount), in addition to the auctioneers Administration Charge.
Payment of the remainder of the purchase price will be needed for completion (within 28 days of the auction).
It is important to liaise with your insurers, as you will be responsible for the insurance of the property upon exchange of contract Auction Day Make sure you check the addendums list to ensure this lot has not been withdrawn or sold prior to the auction, postponed until a later auction date, or any last minute changes have been made to the catalogue entries.
It is recommended to arrive early as the auction room can be very busy with limited space, and if you wish to bid, you should make sure you registered to bid and then are in clear view of the Auctioneer's rostrum.
If you have any questions, make sure to ask one of the A&G team before the start of the auction.
Ensure you make it clear when you wish to bid on a lot, either by raising your hand, holding up a catalogue, or by raising your bidders paddle Successful Bids When the hammer falls, you will have exchanged contracts and have entered a legally binding sale.
If you are the winning bidder, you will need to complete the Memorandum of Sale and pay your deposit and administration fee. You will need to have two forms of id with you; one photographic (e.g.
Driving licence or passport), and one proof of address (e.g. Utility bill dated in the last three months). If multiple people are to be named on the memorandum, you will need id for all parties.
If a property fails to reach its reserve and it is not sold in the room, you can speak with a member of the A&G team to express an interest.
It may be possible to negotiate a sale after the auction, which would then still proceed under normal auction rules
Value & comps
No previous sales on record.
See the independent valuation, upside vs guide, and per-strategy max bid for this lot. Sign in to see it.
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 starting price
This is not financial or investment advice. Prop AI Deals is not authorised by the Financial Conduct Authority (FCA) to provide investment advice.
All investment calculators, property analyses, and AI-generated insights are for informational purposes only. Property investment carries risk and may result in financial loss. All calculations should be independently verified and you should consult with FCA-authorised financial advisers before making any investment decisions.
Past performance does not guarantee future results. Tax implications vary by individual circumstances.
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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FAQ
About 24, Homeforth House, Newcastle Upon Tyne
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