Ridgeway, Gateshead

A buy to let residential property refurbishment undertaken by Clarice Carr & Company.

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Ridgeway, Gateshead

This property, in a popular area of Gateshead close to the Metro and road links, had been empty for 2 years and required a total refurbishment. We also decided to knock through the kitchen to create an open-plan living space. The property was rented within 5 days of going on the market.

Improvement Works

  • New open plan layout

  • New kitchen

  • Replacement bathroom

  • Decorated throughout

  • New carpets and flooring

  • New boiler and central heating

  • New back door and windows 

  • Front and rear gardens landscaped

  • Partial rewire

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Investment Analysis

  • Purchase Price: £68,000

  • Costs (inc Stamp Duty): £2,480

  • Refurb costs: £15,700

  • Our fees: £1,884

  • Total Spend: £88,064

  • Current Valuation: £105,000

  • Equity Created: £16,936

  • Monthly Rental: £600

  • Annual Return: 8.17%