Friars Wharf, Green Lane,
Gateshead, NE10 0QX

About this property

TWO BEDROOM RIVERSIDE APARTMENT | TENANT IN SITU | INVESTMENT OPPORTUNITY | ALLOCATED PARKING | An excellent investment opportunity to acquire this well-presented two bedroom apartment, situated within a popular riverside development and offered for sale with a tenant in situ currently paying £932 PCM. The property benefits from triple glazing, underfloor heating, allocated parking and modern furnishings throughout. The accommodation comprises an entrance hall, open plan lounge and kitchen area, two bedrooms, an en-suite shower room to the principal bedroom and a separate bathroom. Ideally positioned for access to local amenities, transport links and the City Centre, the property offers an attractive ready-made investment with immediate rental income. Energy Efficiency Rating C. Council Tax Band B.

Entrance Hall

Lounge/Kitchen Area

Bedroom One

Ensuite

Bedroom Two

Bathroom

Auctioneer Comments:
This property is for sale by the Modern Method of Auction. Should you view, offer or bid on the property, your information will be shared with the Auctioneer, iamsold Limited
This method of auction requires both parties to complete the transaction within 56 days of the draft contract for sale being received by the buyers solicitor (for standard Grade 1 properties). This additional time allows buyers to proceed with mortgage finance (subject to lending criteria, affordability and survey).
The buyer is required to sign a reservation agreement and make payment of a non-refundable Reservation Fee. This being 4.5% of the purchase price including VAT, subject to a minimum of £6,600.00 including VAT. The Reservation Fee is paid in addition to purchase price and will be considered as part of the chargeable consideration for the property in the calculation for stamp duty liability. Buyers will be required to go through an identification verification process with iamsold and provide proof of how the purchase would be funded.
This property has a Buyer Information Pack which is a collection of documents in relation to the property. The documents may not tell you everything you need to know about the property, so you are required to complete your own due diligence before bidding. A sample copy of the Reservation Agreement and terms and conditions are also contained within this pack. The buyer will also make payment of £349 including VAT towards the
preparation cost of the pack, where it has been provided by iamsold.
The property is subject to an undisclosed Reserve Price with both the Reserve Price and Starting Bid being subject to change.

Referral Arrangements
The Partner Agent and Auctioneer may recommend the services of third parties to you. Whilst these services are recommended as it is believed they will be of benefit; you are under no obligation to use any of these services and you should always consider your options before services are accepted. Where services are accepted the Auctioneer or Partner Agent may receive payment for the recommendation and you will be informed of any referral arrangement and payment prior to any services being taken by you.

https://www.iamsold.co.uk/property/d8e69dc7814f447d8102e5debd64765f

Leasehold Information
The remaining term on the lease is 102 years (2026). The annual service charge is £2897.18 approximately. The ground rent is paid annually and is £150.00. Please be advised we have not inspected the headlease.

Material Information
Tenure: Leasehold.
The block is managed by Trinity Estates.
Council Tax: Band B. Authority; Gateshead Council. https://www.gateshead.gov.uk/article/2641/2026-to-2027-Council-Tax-valuation-bands
Utilities: Mains sewerage, water and electricity are connected. Please note there is no gas supply to the property.
Broadband: Follow the link to check broadband providers and speeds; www.Broadbandcheck.co.uk
Mobile Phone Coverage: Follow the link to check mobile signal for all networks; www.Signalchecker.co.uk
Parking: There is an allocated parking bay for the property.

You would need to instruct your solicitor to review the lease for any restrictive covenants, we have not been advised of any at the outset of marketing. Please note the lease can be made available upon request.