Lot 103 - 22 Portland Street, Pelaw, Gateshead, Tyne and Wear, NE10 0XX
- Unconditional Online Auction Sale
- Guide Price* : £75,000
- Bedrooms: 3
- Bathrooms: 1
- Reception Rooms: 1
3 Bedroom First Floor Flat
Description
• Three-bedroom upper Tyneside flat
• Rear-facing lounge
• Modern kitchen
• Bathroom with shower
• Private rear yard
• Walking distance to Pelaw Metro Station
• Located within a strong rental market
• Ideal investment opportunity
• Potential rental income £750-800pcm
This three-bedroom upper Tyneside flat on Portland Street presents an attractive investment opportunity within one of Gateshead’s strongest rental micro-markets. Pelaw remains highly sought after by renters thanks to its excellent transport links, affordability, and close proximity to both Newcastle and Sunderland.
The property briefly comprises a rear-facing lounge, modern kitchen, bathroom with shower, and three well-proportioned bedrooms, along with a private rear yard. The layout is well suited to long-term tenancy stability and broad rental appeal.
Investment Highlights
• Strong rental demand within the NE10 postcode, including Pelaw and Felling, recognised as one of Gateshead’s fastest-moving rental locations with high enquiry levels.
• Rising rental values across Gateshead, with comparable three-bedroom properties achieving average rents above the current level for this flat, presenting potential for future rental growth.
• Excellent transport connectivity, including direct access to Pelaw Metro Station and strong road links to Newcastle and Sunderland.
• Lower entry price point compared to central Newcastle locations, supporting continued investor interest and rental resilience.
Room Measurements
Lounge – 3.66m x 4.57m
Kitchen – 2.13m x 2.74m / 2.44m
Bedroom One – 4.27m + 0.91m x 3.96m
Bedroom Two – 3.35m + 1.83m x 2.13m / 2.74m
Bedroom Three – 2.13m / 2.74m x 2.44m / 3.05m
Bathroom – 2.13m / 2.74m x 1.22m / 3.05m
External – Private rear yard included.
1. This lot is for sale subject to unconditional auction terms.
2. If the reserve price is met or exceeded, contracts will exchange with immediate effect upon the close of the auction.
3. Following exchange of contracts, parties have 28 days in which to complete the purchase (unless specified otherwise in the special conditions).
4. A non-refundable deposit of 5% is payable within 1 hour of the auction closing.
5. The winning bidder is to make payment to the auctioneer a reservation fee of 6% including VAT subject to a minimum of £6,000 including VAT. The reservation fee is payable in addition to the purchase price and is payable within 1 hour of the auction closing.
6. An administration charge of £714 including VAT is payable by the successful buyer within 1 hour of the auction closing.
7. A legal pack has been provided by the seller’s solicitor and is available to download. We strongly recommend reviewing this thoroughly and discussing any queries with your solicitor prior to bidding.
8. I acknowledge that the seller may accept my bid at any time prior to the scheduled auction end date.
Council Tax Band
A
Lease Start Date
30/11/2010
Lease Duration
999 years (984 years unexpired)
* Generally speaking Guide Prices are provided as an indication of each seller's minimum expectation, i.e. 'The Reserve'. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Virtually every property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.
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