2-bedroom flat · NE22 5QD
To rentReduced £5 (−0.8%) on 30 OctListed 213 days · slow let
Opportunity summary
See Archie’s verdict, returns by strategy and what to check before viewing.
About
Summary Spacious two bedroom first floor flat which is located on Victoria Terrace.
Perfectly placed to provide good access onto the A189 Spine Road leading into neighbouring towns like Ashington, Blyth and Cramlington. The property is accessed from the rear of the building.
A staircase leads to the first floor accommodation which briefly comprises: Hallway, lounge/dining room, fitted kitchen, bathroom with mains shower over bath, main bedroom and a second bedroom.
On street parking. The property is available in April 10th and will be fitted with new carpets.
Tenant Referencing Criteria: Pattinson will undertake referencing checks on all applicants over the age of 18 wishing to move into a rental property.
As part of this process, we will undertake: - A credit check to ensure each applicant does not have any adverse credit such as CCJs (County Court Judgements).
- An affordability assessment to ensure applicant's income will sufficiently cover the rental payments.
- To pass the affordability check, each applicant's gross annual basic income (including benefits and pensions) must be at least 30 times the monthly rental amount (36 times for Ellinson properties).
Eg If the rent is 500 pcm, applicants would need to earn 15,000 as an annual pension or basic salary (excluding commission/bonus) before tax or other deductions were made.
- Each applicant's affordability is assessed individually against the criteria.
However, couples who have previously co-habited, are married or are in a civil partnership will have their incomes combined and assessed jointly.
- Self- will require an accountant's reference and should have accounts for a minimum of two years. - Employment checks to confirm your start date, salary and if your position is permanent.
- Homeownership checks (only if you are a homeowner) confirming your mortgage payments are up to date.
- A Landlord reference (if you are currently residing in rented accommodation) confirming you have abided by the terms of the lease.
This will check that the rent was paid on time and in full, there was no antisocial behaviour and the property was looked after in an appropriate manner. - Right to rent' id checks.
If you do not meet the requirement, you will require A homeowner guarantor.
Council Tax Band: A Deposit: 625.00 Length of Tenancy: 6 months Entrance Private entrance door (situated to the rear) Staircase leading to the first floor accommodation.
The landing provides access into the living room and bedrooms. Living Room This is a generous sized room situated to the rear and providing access into the kitchen.
Double glazed window, central heating radiator, feature fire surround with fire inset.
Kitchen The kitchen is a good size and fitted with a range of wall and base units with work surfaces and splash back wall tiling.
Double glazed window to the side elevation, sink unit with taps and drainer board, access to the rear lobby/bathroom Bathroom A white three piece suite comprising: Bath with shower over, low level WC and wash hand basin, central heating radiator, double glazed window to the side elevation.
Bedroom One Off the main landing. A good sized room situated to the front with a double glazed window and a central heating radiator. Bedroom Two Double glazed window and central heating radiator.
External There is a pleasant shared yard to the rear.
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
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FAQ
About 55A, Victoria Terrace, Bedlington
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