Ex Newcastle United legend turns to property management after crushing relegation to League 1

Former Newcastle United star Andy Carroll has made the move into property management after a disappointing season at Reading saw the club relegated from the Championship.

The Geordie has set up a company called 3 Property North East which looks to make property investments, management and broker sourcing in the star's homeland.

It's been two years since Carroll left Newcastle United after his second stint, but the 34-year-old is still playing professional football at Reading.

The striker signed for the Royals in November 2021 on a short-term contract before leaving in January 2022 to move to West Brom on another short deal until the end of the season. That September he returned to Berkshire, where he signed a contract extension until the summer of 2024 in January of this year.

Carroll's new property venture may provide a chance to forget the season just gone over the summer, which culminated in Reading's relegation from the Championship and a return to the third division for the first time since 1992.

Reading would have survived in the Championship if it weren't for a six-point financial fair play deduction, but one win in the side's final 14 matches did not help the matter.

Carroll did have highlights in the campaign with nine goals to his name, making him the club's joint top scorer with Tom Ince, but it was a season marred with debacles. The Gateshead star saw red in a high-profile FA Cup meeting with Manchester United for a tackle on Christian Eriksen that left the Dane sidelined for months and was at the centre of a handball controversy against Luton Town in a crunch match.

Carroll registered 3 Property North East on Companies House on January 27, 2023 alongside two other colleagues. The company has also launched an Instagram account to advertise its services, which features videos of Carroll explaining why the North East is a great place for property investment right now.

In a recent video, recorded after his childhood club booked a place in the Champions League next season, Carroll explained what was going on with his off-the-pitch venture.

He said: "Hi everyone, I'm sure you're well aware that our team Newcastle United has qualified for the Champions League after an unbelievable season.

"What you might not be aware of is that their achievement on the pitch is going to be amazing for the city of Newcastle, Gateshead and the surrounding areas of the North East.

"There is a lot of redevelopment and regeneration happening in and around the city which is expected for capital appreciation and growth for the next 10 to 15 years. The property price and the cost of entry here in the North East are pretty low compared with the rest of the UK, so it's a perfect time for investment before the prices start to rise.

"With the success on the pitch and all the redevelopment happening around the city, there is a big demand for short-term and long-term lets on services accommodations.

"The average hotel price per night in Newcastle and Gateshead area is between £85 and £100 per person, we can offer a buy-to-let or services accommodation in and around the city centre which can achieve £110 per night at 60% occupancy rate throughout the year which could give you over £2,000 per calendar month gross rent from a £90,000 to £100,000 property."

In recent weeks, Carroll has also been seen cheering on former club West Ham United at The London Stadium as he prepares to take on League 1 next season.

The talisman has never played in an English league below the Championship over his 17-year professional career, which began at Newcastle United in 2006.

The striker has promised Reading fans to help the side return to the Championship next year. After relegation, he said: "The people the place I love you all. I’m so so sorry we weren’t enough this season

“I know I’ll be working my [backside] off this summer to get this fantastic club back up and beyond. Thank you for making this club my home.”