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See how verdicts work2-bedroom flat · NE1 6BG
Sold STCListed 116 days
Opportunity summary
See Archie’s verdict, returns by strategy and what to check before viewing.
About
TWO BEDROOM, TWO BATHROOM APARTMENT WITH ALLOCATED GATED PARKING | NO ONWARD CHAIN | Located within the iconic 55 Degrees North development in Newcastle City Centre, this well-presented apartment offers an excellent opportunity for both owner-occupiers and investors alike.
The property briefly comprises an entrance hall, spacious open-plan living/dining/kitchen area, two double bedrooms, including a principal with en-suite, and a further modern bathroom.
A key feature is the allocated gated parking space, a rare and highly sought-after benefit within the city centre.
Offered with no onward chain, the property presents a straightforward purchase and strong investment potential.
Situated in a prime central location, the apartment provides easy access to Newcastle’s universities, hospitals, transport links, and a wide range of shops, bars, and restaurants.
Energy Efficiency Rating D. Council Tax Band D. Entrance Hall Wall mounted electric heater.
Open Plan Kitchen/Living/Dining Area (6.31m x 4.15m) Kitchen Area Range of wall and base units with roll edge worktop surfaces incorporating stainless steel sink unit with mixer tap, electric hob and oven, washing machine and dishwasher, integrated fridge and freezer.
Living/Dining Area Double glazed windows, wood effect flooring, wall mounted electric heater.
Bathroom (3.12m x 1.17m) Panel bath with shower above, pedestal wash basin, WC, tiled flooring, part tiled walls.
Bedroom One (8.93m x 3.00m) MAX Double glazed window, fitted wardrobe, wall mounted electric heater. Ensuite Shower Room (2.30m x 2.02m) Shower in tiled cubicle, wash hand basin, WC, part tiled walls.
Bedroom Two (3.10m x 2.73m) Double glazed window, wall mounted electric heater. Leasehold Information We have been advised the remaining term on the lease is approximately 101 years (2026).
The service charge is £3772.66 per annum approximately, and a ground rent of £200 per annum. Please note we have not inspected the head lease.
Material Information This property is managed by Living Spaces. Tenure: We have been advised the property is leasehold. Council Tax: Band D. Authority; Newcastle City Council.
For current rates please visit new.newcastle.gov.uk/council-tax/council-tax-explained/council-tax-bands Utilities: Mains sewerage, water and electricity are connected.
Please note there is no gas supply to the property. Heating is via electric heating.
Broadband: Follow the link to check broadband providers and speeds; broadbandcheck.co.uk Mobile Phone Coverage: Follow the link to check mobile signal for all networks; signalchecker.co.uk Parking: There is an allocated parking bay available for this property which requires a parking permit and a fob.
You would need to instruct your solicitor to review the lease for any restrictive covenants, we have not been advised of any at the outset of marketing.
Please note the lease can be made available upon request.
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
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.
Area
Agent & docs
FAQ
About 55 Degrees North, Pilgrim Street, Newcastle Upon Tyne, NE1
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