Lot 7 - 6 Hedley Street, Gateshead, Tyne And Wear, NE8 4XN

  • Unconditional Online Auction Sale
  • Guide Price* : £250,000+
  • Bedrooms: 6
  • Bathrooms: 6
  • Reception Rooms: 1

A fully tenanted six bedroom all ensuite HMO let to working professionals producing £40,320 per annum

Description

• Freehold semi-detached house
• 6 ensuite bedroom tenanted HMO
• Communal open plan kitchen and dining space
• Sui Generis planning permission for 7 occupants
• Fully renovated to a high standard throughout
• Impressive gross yield of 16.1% on guide
• Fully managed HMO in a prime location
• Current rental income of £3,360 per month

Location

Situated on the well-connected Hedley Street in Gateshead, the property benefits from convenient access to the A167 and A184. Providing direct routes to Gateshead town centre, Newcastle upon Tyne, and a range of local employers. Set within a popular residential area, it is close to a variety of local amenities including shops, schools, and green spaces.

Transport links are provided by Dunston Railway Station and Newcastle Central Station

Planning

Planning granted through Gateshead Council, Ref: DC/18/00582/COU | (08-06-2018)

Planning granted for change of use from dwelling (Class C3) to sui-generis (6 bedroom - 7 Person) HMO

Auctioneer Notes

Internal Images
Buyers should note that the internal images have been provided by the seller. These pictures were taken prior to the property being tenanted. The auctioneers have not had the opportunity to the property prior to marketing the property for auction.

HMO Compliance

- HMO License
- EICR
- Fire Risk Assessment and
- Gas Safety Certificates
- Emergency Lighting Test
- Fire Alarm Test Certificate
- Building Regulation Compliance Certificate

Copies of documents can be found within the legal pack

Accommodation

Room Number Floor Accommodation Tenancy Info Rent Per Annum
1 Ground En-suite HMO room with access to communal kitchen 6 month AST starting from 27th February 2023 £6,000
2 Ground En-suite HMO room with access to communal kitchen 6 month AST starting from 22nd August 2025 £6,840
3 First En-suite HMO room with access to communal kitchen 6 month AST starting from 24th October 2025 £6,600
4 First En-suite HMO room with access to communal kitchen 6 month AST starting from 24th September 2025 £6,840
5 First En-suite HMO room with access to communal kitchen 6 month AST starting from 22nd August 2025 £6,840
6 Second En-suite HMO room with access to communal kitchen 6 month AST starting from 18th June 2025 £7,200

Vendors Solicitor
Joy Savill
02075047071

* Guide Prices are provided as an indication of each seller's minimum expectation (also known as the 'Reserve Price'). This is not necessarily a figure which a property will sell for and may change at any time prior to the auction. Every property will be offered subject to a Reserve Price (this is the sellers minimum expectation) which will be set within either a Guide Range or no more than 10% above a single figure Guide Price.

The Buyers Administration Fee of £1,500 (inclusive of VAT) is a separate charge payable in addition to the price a Lot sells for. In addition, the Guide Price does not include VAT on the sale price, or any additional costs, charges or encumbrances that might apply to some Lots and/or some buyers. The Special Conditions of Sale of the seller, and any applicable Addendum, will state if there are other costs, charges or encumbrances and whether the seller has elected to charge VAT on the sale price.

To participate in the sale, HMO X Auctions must hold a minimum amount from all bidders. This participation amount and administration fee are fully refundable in the event that you are not the successful purchaser. For example, a participation fee of £5,000 comprises £3,500 relating to your bidder security (which forms part of your 10% deposit payment) and the buyers administration fee of £1,500 (inclusive of VAT).

Please note that Lots may be sold or withdrawn prior to auction without prior notice.

Any information provided by HMO X Auctions or the seller, whether in writing or orally, does not constitute a representation, condition, or warranty. The information given is for illustrative purposes only and should not be considered as fact. Any mistakes, omissions, inaccuracies, or mis-descriptions in the information provided will not give rise to any legal action or compensation against HMO X Auctions or the seller.

All bidders must satisfy themselves by carrying out their own independent due diligence, inspections or otherwise as to the correctness of any and all of the information, statements, descriptions, quantity or measurements contained in any such sales particulars, webpage, brochure, catalogue, email, letter, report or hand out issued by or on behalf of HMO X Auctions or the seller.

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Financing

Looking to purchase at auction but need the right finance in place? We’ve partnered with Roma Finance to help our buyers secure fast and flexible funding solutions tailored for HMOs.

Get in touch with Roma Finance today to explore the best financing options for your next HMO purchase

HMO X - Roma Finance

Vendors Solicitor

Joy Savill
02075047071

Agreement Documents

Legal Documents

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