PORTFOLIO
#1 St Mary’s Terrace, Gateshead, NE10
Purchased in November 2023 for £157k. GDV £300k
Good HMO area with local amenities close to Felling high street great local amenities.
Large 1,450 square foot house accommodating 6 bedrooms all ensuite and large communal area.
Heworth Interchange consists of a National Rail, Tyne and Wear Metro and bus station 1 mins walk away, 6mins to Gateshead, 8 mins to Central Station, 11 mins to Haymarket, 20 mins to Sunderland, 35 mins to Airport
Newcastle Gateshead Quays regeneration £350M GDV 5 mins away completing in 2025 forecast to attract over 1M visitors.
10 mins drive from intuMetrocentre, Europe's largest indoor shopping and leisure complex with 300+ shops.
23% Return on Capital Employed (R O C E)
#2 60 Rayleigh Grove, Gateshead, NE8
Purchased at auction September 2023 for £101k. GDV £300k.
Built as 2 flats originally and then converted many years ago into one large house, the property lends itself well to a large HMO conversion due to increased space compared to typical terraced properties.
The condition is tired but not by any means bad and thus needs a soft strip throughout and all infrastructure installed, ensuites, kitchen, fire provisions etc.
Saltwell park is close-by which is a lovely green space as well as key bus links into Gateshead and Newcastle city centres. Bensham and Queen Elizabeth Hospitals are within one mile.
Existing and proposed floor plans for a 6 bed all ensuite HMO, all rooms will be of a good size, 5 will be double standard with 1 falling just short as a large single room.
The property is currently going through probate and refurbishment works are expected to start onsite in Q2 available to let summer 2024.
