1-bedroom flat · NE12 7EH
Listing removedListed 87 days · slow let
Opportunity summary
See Archie’s verdict, returns by strategy and what to check before viewing.
About
This apartment is situated on the first floor, with lift access.
It has an entrance hall with storage cupboards leading to a bright living room with kitchen leading off, a double bedroom and a shower room.
The rent includes heating and hot water which is delivered from a central boiler, but excludes all other household costs (e.g. water, electricity, council tax etc.).
Residents have the privacy of their own flat and the benefits of a community lounge. There is a communal laundry and small car park for residents’ use.
Our emergency control centre is available 24 hours a day via pull cords in the living room, bedroom and bathroom and via the intercom system in the hallway.
The intercom system can also be used to open the front door to guests. Nellie Gormley House is a very popular and attractive housing scheme for people aged 55 and over.
Set in pretty communal gardens the accommodation is conveniently situated close to Killingworth, West Moor and Newcastle.
The two storey main block has an electronic entry system, lift access to the first floor and each flat has its own front door within the scheme.
West Moor has shops, restaurants, pubs and a very active community centre. Nearby Killingworth has a large shopping centre with restaurants and cafes and the white swan lake a short drive away.
There are direct bus services to Newcastle, and the coast, whilst there is easy access for cars to the A189 and A19.
There are GP Services locally and several major hospitals in Cramlington, Gateshead and Newcastle.
Value & comps
No previous sales on record.
Rental comparables are shown in the Rental section below. Sold comparables remain for area capital context only.
Returns
We're still gathering serviced-accommodation data for this area.
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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 Nellie Gormley House, Sharon Close, West Moor, North Tyneside
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