2 Bed Flat, Cash/Bridging Only, North Shields, NE29 6BZ, £200,000

Smokehouse Two, Duke Street, Smiths Dock, North Shields, NE29 6BZ - a month ago

Sold STC

Leasehold

Cash

ROI: 1%

~68 m²

+12 photos

ValuationOvervalued

Sold Prices	£45K - £340K
Sold Prices/m²	£710/m² - £3K/m²

Square Metres	~68.11 m²
Price/m²	£2.9K/m²
Value Estimate	£89,140£89,140

End Value (After Refurb)	£174,750£174,750

Investment Opportunity

Cash In
Purchase Finance	Bridging LoanBridging Loan
Deposit (25%)	£50,000£50,000
Stamp Duty & Legal Fees	£11,200£11,200
Refurb Costs	£26,305£26,305
Bridging Loan Interest	£5,250£5,250
Total Cash In	£94,505£94,505

Cash Out
Monetisation	FlipRefinance & RentRefinance & Rent
Revaluation	£174,750£174,750
Mortgage (After Refinance)	£131,063£131,063
Mortgage LTV	75%75%
Cash Left In	£94,505£94,505
Equity	£43,688£43,688
Rent Range	£475 - £1,400£475 - £1,400
Rent Estimate	£775
Running Costs/mo	£721£721
Cashflow/mo	£54£54
Cashflow/yr	£647£647
ROI	1%1%
Gross Yield	5%5%

Local Sold Prices

50 sold prices from £45K to £340K, average is £113.5K. £710/m² to £3K/m², average is £1.3K/m².

Price	Date	Distance	Address	Price/m²	m²	Beds	Type
£260K	06/24	0.06 mi	8 Collingwood Mansions, New Quay, North Shields, Tyne And Wear NE29 6HA	-	-	2	Flat
£240K	02/21	0.06 mi	24 Collingwood Mansions, New Quay, North Shields, Tyne And Wear NE29 6HA	-	-	2	Flat
£340K	05/23	0.06 mi	2 Collingwood Mansions, New Quay, North Shields, Tyne And Wear NE29 6HA	-	-	2	Flat
£88K	06/21	0.16 mi	24, Yeoman Street, North Shields, Tyne And Wear NE29 6NL	£1,309	67	2	Flat
£69K	04/21	0.24 mi	47, Seymour Street, North Shields, Tyne And Wear NE29 6SN	£972	71	2	Flat
£152.5K	06/24	0.26 mi	19, Long Row, South Shields, Tyne And Wear NE33 1JA	£2,383	64	2	Flat
£147.4K	04/24	0.26 mi	22, Long Row, South Shields, Tyne And Wear NE33 1JA	£2,403	61	2	Flat
£67K	01/21	0.28 mi	37, Stanley Street, North Shields, Tyne And Wear NE29 6RH	£1,081	62	2	Flat
£90K	05/21	0.28 mi	9, Little Bedford Street, North Shields, Tyne And Wear NE29 6NW	£1,098	82	2	Flat
£63K	10/21	0.28 mi	9a, Little Bedford Street, North Shields, Tyne And Wear NE29 6NW	£840	75	2	Flat
£53.5K	07/21	0.28 mi	98, Seymour Street, North Shields, Tyne And Wear NE29 6SS	£991	54	2	Flat
£145K	05/23	0.29 mi	17, Camden Square, North Shields, Tyne And Wear NE30 1NR	-	-	2	Flat
£45K	02/23	0.29 mi	56, Vicarage Street, North Shields, Tyne And Wear NE29 6SJ	£710	63	2	Flat
£155K	09/21	0.29 mi	10, Union Street, North Shields, Tyne And Wear NE30 1NL	-	-	2	Flat
£131.5K	04/23	0.29 mi	22, Union Street, North Shields, Tyne And Wear NE30 1NL	-	-	2	Flat
£137K	08/21	0.29 mi	5, Union Street, North Shields, Tyne And Wear NE30 1NL	-	-	2	Flat
£101.7K	03/24	0.29 mi	45, River Drive, South Shields, Tyne And Wear NE33 1TL	£1,240	82	2	Flat
£56.5K	07/23	0.3 mi	9b, William Street West, North Shields, Tyne And Wear NE29 6RL	£974	58	2	Flat
£127.5K	10/23	0.3 mi	29, Union Stairs, North Shields, Tyne And Wear NE30 1NE	£1,864	68	2	Flat
£130K	04/21	0.3 mi	12, Union Stairs, North Shields, Tyne And Wear NE30 1NE	£2,203	59	2	Flat
£120K	06/21	0.3 mi	27, Union Stairs, North Shields, Tyne And Wear NE30 1NE	£1,935	62	2	Flat
£130K	08/23	0.3 mi	24, Union Stairs, North Shields, Tyne And Wear NE30 1NE	£2,131	61	2	Flat
£125K	03/23	0.3 mi	1, Union Stairs, North Shields, Tyne And Wear NE30 1NE	£2,193	57	2	Flat
£120K	10/22	0.3 mi	9, Union Street, North Shields, Tyne And Wear NE30 1NL	£2,034	59	2	Flat
£63K	05/21	0.31 mi	8, William Street, North Shields, Tyne And Wear NE29 6RJ	£759	83	2	Flat
£160K	03/21	0.31 mi	3, Howard Street, North Shields, Tyne And Wear NE30 1AW	£2,353	68	2	Flat
£63K	05/21	0.32 mi	8, William Street, North Shields, Tyne And Wear NE29 6RJ	£759	83	2	Flat
£94K	12/22	0.37 mi	10, Greens Place, South Shields, Tyne And Wear NE33 2AE	-	-	2	Flat
£62.5K	09/23	0.39 mi	37, Broad Landing, South Shields, Tyne And Wear NE33 1JL	£962	65	2	Flat
£108K	12/22	0.39 mi	43, Broad Landing, South Shields, Tyne And Wear NE33 1JL	£1,612	67	2	Flat
£62.5K	01/21	0.39 mi	29, Broad Landing, South Shields, Tyne And Wear NE33 1JL	£1,078	58	2	Flat
£115K	03/23	0.39 mi	34, Broad Landing, South Shields, Tyne And Wear NE33 1JL	£1,896	61	2	Flat
£69K	11/22	0.39 mi	23, Victoria Crescent, North Shields, Tyne And Wear NE29 0EX	£1,045	66	2	Flat
£92K	06/23	0.4 mi	142, Chirton West View, North Shields, Tyne And Wear NE29 0EN	£1,314	70	2	Flat
£59K	12/22	0.42 mi	9, Coble Landing, South Shields, Tyne And Wear NE33 1JW	£952	62	2	Flat
£76.5K	03/21	0.44 mi	143, West Percy Street, North Shields, Tyne And Wear NE29 0BY	£1,142	67	2	Flat
£80K	02/23	0.44 mi	17, Brannen Street, North Shields, Tyne And Wear NE29 0EH	£1,174	68	2	Flat
£150K	10/21	0.47 mi	18, Ferry Approach, South Shields, Tyne And Wear NE33 1JJ	£1,531	98	2	Flat
£160K	04/23	0.48 mi	16, Ferry Approach, South Shields, Tyne And Wear NE33 1JJ	£1,702	94	2	Flat
£142.5K	11/21	0.48 mi	15, Ferry Approach, South Shields, Tyne And Wear NE33 1JJ	£1,822	78	2	Flat
£83K	07/23	0.51 mi	71a, Collingwood View, North Shields, Tyne And Wear NE29 0ER	£1,246	67	2	Flat
£73K	01/21	0.51 mi	85, Collingwood View, North Shields, Tyne And Wear NE29 0ER	£1,265	58	2	Flat
£75K	04/23	0.53 mi	7, Spence Terrace, North Shields, Tyne And Wear NE29 0JD	£1,003	75	2	Flat
£73.5K	12/20	0.53 mi	17, Spence Terrace, North Shields, Tyne And Wear NE29 0JD	£1,141	64	2	Flat
£115K	01/21	0.55 mi	115, Stephenson Street, North Shields, Tyne And Wear NE30 1ER	£1,597	72	2	Flat
£150K	04/24	0.6 mi	16, Spring Gardens Court, North Shields, Tyne And Wear NE29 0AN	-	-	2	Flat
£195K	06/21	0.61 mi	17, Renaissance Point, North Shields, Tyne And Wear NE30 1LA	£2,566	76	2	Flat
£181K	02/24	0.61 mi	11, Renaissance Point, North Shields, Tyne And Wear NE30 1LA	£2,996	60	2	Flat
£112K	10/20	0.62 mi	10, Renaissance Point, North Shields, Tyne And Wear NE30 1LA	£1,600	70	2	Flat
£127K	11/22	0.62 mi	12, Chirton Dene Quays, North Shields, Tyne And Wear NE29 6YW	£2,352	54	2	Flat

Local Rents

50 rents from £475/mo to £1.4K/mo, average is £738/mo.

Rent	Date	Distance	Address	Beds	Type
£800	05/24	0.03 mi	Duke Street, Smiths Dock, North Shields	2	Flat
£1,000	07/24	0.03 mi	Smokehouse One, North Shields	2	House
£1,150	12/23	0.04 mi	-	2	Flat
£900	05/24	0.04 mi	The Chain Locker, Duke Street, North Shields, Tyne and Wear, NE29 6HB	2	Flat
£865	11/24	0.04 mi	-	2	Flat
£1,100	03/25	0.08 mi	-	2	Flat
£1,250	05/24	0.08 mi	Smokehouse Two, Duke Street, Smiths Dock, North Shields, NE29	2	Flat
£575	07/24	0.12 mi	Addison Street, North Shields, NE29 6LR	2	Flat
£1,100	06/24	0.13 mi	Apartment 3, Block C, Shepherds Quay, North Shields, NE29 6LJ	2	Flat
£595	07/24	0.15 mi	Laet Street, North Shields. NE29 6NN	2	Flat
£1,400	05/24	0.16 mi	Shepherds Quay, Clive Street, North Shields, NE29 6LF	2	Flat
£695	05/24	0.2 mi	Lower Rudyerd Street, North Shields	2	Flat
£800	05/24	0.21 mi	Howdon Road, North Shields	2	Flat
£750	06/24	0.22 mi	Howdon Road, North Shields, NE29	2	Flat
£725	12/24	0.24 mi	-	2	Flat
£525	05/24	0.25 mi	Howdon Road, North Shields. NE29 6ST	2	Flat
£650	05/24	0.26 mi	William Street West, North Shields, Tyne and Wear, NE29 6RL	2	Flat
£650	06/24	0.27 mi	Stanley Street West, North Shields	2	Flat
£900	07/24	0.28 mi	Union Stairs, North Shields, Tyne and Wear, NE30 1NE	2	Flat
£700	06/24	0.29 mi	-	2	Flat
£700	06/24	0.29 mi	Dolphin Quay, North Shields, NE29	2	Flat
£550	05/24	0.29 mi	Vicarage Street, North Shields. NE29 6SJ	2	Flat
£800	06/24	0.29 mi	River Drive, South Shields	2	Flat
£750	06/24	0.29 mi	Union Stairs, North Shields	2	Flat
£825	07/24	0.3 mi	Union Stairs, North Shields, NE30	2	Flat
£550	07/24	0.3 mi	Rudyerd Street, North Shields, NE29	2	Flat
£700	10/24	0.32 mi	-	2	Terraced House
£700	10/24	0.32 mi	-	2	Terraced House
£600	11/24	0.33 mi	-	2	Flat
£475	09/23	0.35 mi	-	2	Flat
£725	05/24	0.39 mi	Norfolk Street, North Shields	2	Flat
£775	06/24	0.39 mi	-	2	Flat
£750	08/24	0.39 mi	-	2	Flat
£750	06/24	0.39 mi	Saville Street, North Shields, NE30	2	Flat
£725	12/24	0.39 mi	-	2	Flat
£750	06/24	0.4 mi	Captains Wharf, South Shields	2	Flat
£725	12/24	0.4 mi	-	2	Flat
£695	02/25	0.43 mi	-	2	Flat
£650	05/24	0.44 mi	West Percy Street, North Shields	2	Flat
£675	06/24	0.44 mi	West Percy Street, North Shields. NE29 0BY	2	Flat
£695	12/24	0.45 mi	-	2	Flat
£1,250	06/24	0.47 mi	Ballast Hill Road, Royal Quays	2	Flat
£695	06/24	0.47 mi	Ferry Approach, South Shields	2	Flat
£750	01/24	0.48 mi	-	2	Flat
£625	05/24	0.48 mi	Hopper Street West, North Shields	2	Flat
£775	02/25	0.5 mi	-	2	Terraced House
£650	03/24	0.53 mi	Stephenson House, Stephenson Street, North Shields, Tyne & Wear, NE30	2	Flat
£795	05/24	0.59 mi	Gardner Park, North Shields, NE29	2	Detached House
£795	06/24	0.59 mi	Gardner Park, North Shields, NE29	2	Semi-Detached House
£795	06/24	0.59 mi	-	2	Semi-Detached House

Local Area Statistics

Population in NE29	35,92335,923
Population in North Shields	57,93157,931
Town centre distance	0.82 miles away0.82 miles away
Nearest school	0.40 miles away0.40 miles away
Nearest train station	0.49 miles away0.49 miles away

Rental demand	Landlord's marketLandlord's market
Rental growth (12m)	-14%-14%
Sales demand	Seller's marketSeller's market
Capital growth (5yrs)	+26%+26%

Property History

Listed for £200,000

March 5, 2025

Floor Plans

Description

Allocated & Visitor Parking +
Energy Efficient Home +
Idyllic Riverside Setting +
Lift Access +
Open Plan Living Space +
Second Floor Apartment +
Two Double Bedrooms +
Beside North Shields Fish Quay +
Modern Contemporary Décor +
Long Lease +

Jan Mitchell Properties are delighted to offer for sale this stunning two-bedroom, second-floor apartment, forming part of Smokehouse Two, an exclusive award winning development of 56 apartments built in 2016, which provides contemporary modern living in a sought-after riverside setting.

Building Features:
The ground floor includes a secure entry system, mailboxes, a bike store, and a lift providing easy access to upper floors.

Apartment Layout:
Second Floor - Apartment No. 11

- Hallway - Radiator, cloak cupboard with light, water meter, and plumbing for a washing machine.
- Bathroom (9' 0" x 6' 7" / 2.74m x 2.01m) - Stylishly tiled with a panelled bath, shower over & screen, vanity unit, low-level WC, and a vertical towel radiator.
- Bedroom 1 (8' 11" x 16' 0" / 2.72m x 4.88m) - Spacious double room with a full-length aluminium double-glazed window and a radiator.
- Bedroom 2 (9' 1" x 11' 11" / 2.77m x 3.63m) - Another well-sized bedroom with a full-length aluminium double-glazed window and a radiator.
- Kitchen/Living Room (23' 0" x 13' 0" / 7.01m x 3.96m) - A bright and modern open-plan space with:
Stylish fitted wall & floor units
'CDA' electric hob & oven with an illuminated extractor hood
Stainless steel sink with a mixer tap & drainer
Integrated fridge, freezer & dishwasher
Breakfast bar/island
A stunning west-facing wall of aluminium double-glazed windows with fitted blinds
Radiator

External Features:
Designated private parking bay & additional communal parking

1 allocated space in car park with 2 additional spaces available (all works on assigning registrations on SIP parking).

About Smokehouse Two & The Area:
Located within the prestigious Smiths Dock development, Smokehouse Two offers breath-taking open views of the River Tyne and provides easy access to North Shields Fish Quay, North Shields Town Centre, and nearby Tynemouth Village.

The area benefits from excellent transport links, including bus routes and Metro services connecting to Newcastle City Centre and the wider coastal region.

For leisure and amenities:

Royal Quays Shopping Outlet and Royal Quays Marina are nearby.
The Fish Quay boasts an array of restaurants, bars, and cafés.
The North Shields Ferry landing provides access to South Shields.
Unique to Smokehouse Two, the highly acclaimed "31 The Quay" restaurant offers fine British dining with stunning riverside views.
This exceptional apartment presents a rare opportunity to enjoy modern riverside living in a vibrant and well-connected community.

IMPORTANT NOTE TO PURCHASERS
We endeavour to make our property details accurate, however, they do not constitute or form part of an offer or any contract and are not to relied upon as statements of representation or fact. Any services, systems and appliances listed in the details have not been tested by us and no guarantee is given to their operating ability or efficiency. All the measurements and floor plans have been taken as a guide to prospective purchasers and are not to be relied upon. Please be advised that some of the information may be awaiting vendor approval. If you require clarification of further information on any points please contact us direct.

MAKING AN OFFER Please note that all offers will require financial verification including mortgage agreement in principle, proof of deposit funds, proof of available cash and full chain details including selling agents and solicitors down the chain. Under New Money Laundering Regulations we require proof of identification from all buyers before acceptance letters are sent and solicitors can be instructed.

Tenure - We are not able to verify the tenure of the property as it is not always possible to see sight of the relevant documentation prior to marketing. Prospective purchasers must make further enquiries with their legal adviser

Council Tax Band: D (North Tyneside)
Tenure: Leasehold (250 years)
Ground Rent: £150 per year
Service Charge:
Leasehold - 250 years from 2016. Ground rent of £150 per year. Service Charge payable to RMG Management Company which covers: maintenance of the lift, cleaning of Halls, stairs & Landings, building insurance and window cleaning

Agent Details

Jan Mitchell Properties, Covering North East

0191 625 1034

Next Steps?

This deal was sourced from Rightmove. Contact the landlord/agent for a viewing now 💪

Similar Properties

Like this property? Maybe you'll like these ones close by too.

Sold STC

4 Bed House, Cash/Bridging Only, North Shields, NE29 6TA

£425,000

4 months ago • 129 m²

Sold STC

2 Bed Flat, Cash/Bridging Only, North Shields, NE30 1QA

£63,000

1 views • 8 months ago • 72 m²

2 Bed Flat, Cash/Bridging Only, North Shields, NE29 6BZ, £200,000

ValuationOvervalued

Investment OpportunityOpen in Analyser

Local Sold PricesDownload Show map

Local RentsDownload Show map

Links

Local Area Statistics

Property History

Floor Plans

Description

Agent Details

Next Steps?

Similar Properties

4 Bed House, Cash/Bridging Only, North Shields, NE29 6TA

2 Bed Flat, Cash/Bridging Only, North Shields, NE30 1QA

Investment Opportunity

Local Sold Prices

Local Rents