1-bedroom flat · NE29 9BF
Listing removedListed 289 days
Opportunity summary
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About
ATTRACTIVE 1 BEDROOMED GROUND FLOOR RETIREMENT APARTMENT SITUATED IN A BLOCK BUILT IN 2003 BY McCARTHY STONE & COMPRISES 36 PROPERTIES OVER 3 FLOORS .
Residents must be over the age of 60 years, or in the event of a couple, one must be over the age of 60 years and the other over 55 years.
This Apartment has the benefit of uPVC double glazing & night storage heating.
There is also a communal lounge, lift, guest room, communal laundry, security entry-phone system and a 24-hour emergency monitoring system.
On the ground floor : Lobby leading to communal lounge area, laundry room for the use of all residents, guest room & lifts to upper floors.
Apartment : – hall with storage cupboard, lounge with electric fire & door to communal gardens, kitchen (off), bedroom with fitted wardrobes, shower room.
Externally : communal gardens with designated parking & visitor parking.
Grangeside Court is situated in Preston Grange close to Morrisons Supermarket, Tynemouth Swimming Pool, and bus services which connect up with local amenities.
ON THE GROUND FLOOR: SECURE FOB ACCESS TO LOBBY: dado rail, & night storage heater. COMMUNAL LOUNGE: for the use of all residents.
COMMUNAL LAUNDRY ROOM: washing machines & dryers for the use of all residents. GUEST ROOM: Single occupant: £25 per night. Double occupancy: £30 per night.
APARTMENT - HALL: walk-in store cupboard with light housing hot water tank & pull-cord. LOUNGE: 10' 8" x 19' 2" (3.25m x 5.84m – max.
overall measurement) fireplace with electric fire, 'Creda' night storage heater, pull-cord & uPVC double glazed window & door with vertical louvred blind giving access to communal gardens.
KITCHEN: 7' 7" x 6' 9" (2.31m x 2.06m) part-tiled walls, fitted wall & floor units, 'Hotpoint' ceramic hob, 'Electrolux' eye-level oven, stainless steel sink with mixer tap & drainer, 'Creda' wall heater, pull-cord, 'Electrolux' extractor.
3 fitted spotlights & uPVC double glazed window with roller-blind.
SHOWER ROOM: spacious walk-in shower enclosure, corner vanity unit with storage, low level WC, vertical stainless steel towel radiator, medicine cabinet with shelf, PVC ceiling & 'Xpelair' extractor fan.
BEDROOM: 9' 3" x 13' 6" (2.82m x 4.11m – max.
overall measurement) plus fitted wardrobes with mirrored doors, 'Creda' night storage heater, pull-cord & uPVC double glazed window with vertical louvred blind.
EXTERNALLY: COMMUNAL GARDENS: designated car parking & visitor car parking.
TENURE: Leasehold – 125 years from 01.04.2004 SERVICE CHARGE: Approximately £3400 per annum split into 2 instalments, which includes water rates, window cleaning, maintenance & up-keep of block exterior, communal grounds, and internal areas such as hall, stairs and landings.
GROUND RENT: £384 per annum split into 2 instalments. Council Tax Band: A
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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About Grangeside Court, North Shields, Tyne & Wear, NE29 9BF
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