One-bedroom ground floor flat in Wallsend

One-bedroom ground floor flat situated on George Street, Wallsend, presenting an excellent opportunity for investors or buyers seeking a refurbishment project with attractive potential returns. The property requires refurbishment throughout, allowing the successful purchaser to update and improve the accommodation to their own specification. The flat is to be sold with vacant possession and is held on a Tyneside lease. With a potential market rent of approximately £600 per calendar month, the property offers the opportunity to generate an estimated annual rental income of £7,200 once refurbished and let. Based on the anticipated all-in purchase price, including fees, the indicative gross rental yield is approximately 22.9%, making this an opportunity worthy of consideration for investors seeking to expand their portfolio. Situated in Wallsend, this property offers proximity to local retail amenities, transport links, and essential services within the surrounding community.