Ridgeway, Gateshead

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

IMG_0702 copy.png

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

7100891616e868b4c1615d55fd3339803c8ab2bf
IMG_2512 copy.png

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%

 

Clarice Carr & Company

Subscribe Form

+44 (0)7940 501 993

  • Twitter
  • LinkedIn
  • Instagram

©2019 Clarice Carr & Company Limited, Newcastle upon Tyne

Clarice Carr & Company offers a property consultancy and management service. Whilst we may find and/or manage a property on your behalf, and may charge a fee for this service, we neither offer nor recommend investments, mortgage products, insurances or any other regulated products. If you have any doubt about the suitability of the investment, or you require financial advice, you should seek a personal recommendation from an appropriately qualified financial advisor who does give advice.

Clarice Carr & Company Limited, (Company number 11158570), is registered at 424 Old Durham Road, Gateshead, NE9 5DQ. This website may contain illustrations of potential financial returns on a property. These are provided for guidance only and are neither guaranteed or warranted. The information on this website is governed by our terms and conditions of use. Before you make any investment promoted via this website, you must make sure that you fully understand that no guarantees are made and the value of a property can go up, as well as down. In the event that the property falls in value, you may lose some or all of your capital. Or, if rent is not received, for any reason (ie. void periods/non-payment), your returns may be lower than estimated.