2 bed terraced house to buy in SR8

TO BE SOLD VIA OUR ONLINE AUCTION. FEES APPLY.

Pattinson Estate Agents are delighted to bring to the market this tenanted property on Barwick Street, Peterlee, currently producing a rental income of £425 per calendar month with an 8%+ yield, making this an excellent opportunity for landlords and investors looking to add to their portfolio, this property has potential for a 10%+ Yield.

The property is situated within a popular residential area of Peterlee, close to a range of local amenities, shops, schools and transport links. Peterlee town centre is within easy reach, providing access to everyday facilities, whilst excellent road links connect to surrounding areas.

The property is being offered for sale with tenants in situ, providing a potential rental investment from completion, subject to the existing tenancy and terms.

Internally, the accommodation offers well-proportioned living space and would suit those looking for a straightforward buy-to-let investment.

Barwick Street is conveniently positioned for access to Peterlee town centre and a range of local amenities, shops, schools and transport links, making the property appealing to both landlords and tenants. An ideal opportunity for an investor looking to add a tenanted property to their portfolio. Early viewing is recommended.

Front Exterior

Living Room

Kitchen

Bedroom 1

A spacious double bedroom featuring neutral décor, carpet flooring and a large window overlooking the front of the property, allowing plenty of natural light into the room. The room provides ample space for bedroom furniture.

Bedroom 2

Bathroom

A good-sized family bathroom fitted with a panelled bath, wash hand basin and WC. The room benefits from a window providing natural light and ventilation.

Rear Yard

Timescales

Contracts will exchange immediately. There are 28 days in which to complete the purchase.

Legal Pack

A legal pack is available to download. Special conditions may apply.

We strongly recommend buyers familiarise themselves with the legal pack prior to bidding.

Deposit

In order to secure the purchase a buyer will pay a deposit of 5%, subject to a minimum £4,000 which contributes towards the overall purchase price of the property.

The deposit is non-refundable.

Buyer Fees

This property is sold subject to a non-refundable reservation fee of 2.5%+ VAT to a minimum of £3,000 + VAT (£3,600 inc VAT) This does not form part of the purchase price.

More Information

For more information call our auction experts on 0191 206 9335 or email auctions@pattinson.co.uk

ONLINE AUCTION NOTICE

I hereby acknowledge and confirm the following:

My bid may be accepted by the seller at any time before the close of the auction. It is subject to the terms and conditions of the auction which I have read and understood. I have read and understood the legal pack applicable to my bid/lot and agree to be bound by any special conditions within that pack.

If my bid is successful (whether as the highest bid or upon acceptance by the seller in the course of the auction) I shall be bound by the lot terms and conditions as advertised online.

Any amount payable at the close of the auction must be paid within 1 hour.

Please note that the bidding process will work in a different way to an eBay auction, so there is NO advantage to bidding at the last second.

Each auction will automatically stay open until there has not been a bid within the final 10 minutes. If no bid has been submitted within the final 10 minutes of the auction, the auction will close and the highest bidder will be successful subject to the reserve price being met or upon acceptance of an offer by the seller throughout the auction cycle. If there is another bid within 10 minutes of the last bid, the auction countdown timer will be restarted for another 10 minutes to allow further bidding. This system avoids last-minute (or second) bidding and makes for a fairer auction as in a live-room auction situation.

Please bid in good time before the end of the auction, delaying your bid to the last seconds may disadvantage you if your connection slows or you lose internet connectivity.

The auctioneer is not responsible for any tech issues, power outage or error messages which hampers or eliminates an individual's opportunity to bid.

It is the bidder's responsibility to ensure the bid has been lodged with the auctioneer. It is therefore beneficial to bid on your chosen lot at your earliest opportunity.

The auctioneer accepts no responsibility for bids that are not received or are received late and reserves the right to reject any bid without notice.

Minimum online bidding increments:
£50,000 - £250 minimum bid
£50,001 to £150,000 - £500 minimum bid
£150,001 to £250,000 - £1,000 minimum bid
£250,001 to £750,000 - £2,500 minimum bid
£750,001 to £1.5 Million - £5,000 minimum bid
£1.5 Million Plus - £10,000 minimum bid

Please note this bidding process applies specifically to online auctions.

More Information is available:

For more information, call our auction experts on 0191 206 9335 or email auctions@pattinson.co.uk

The legal pack is not yet available. The auction will not end until the legal pack has been made available here for at least 24 hours.

Heating supply: Gas

Rights and Restrictions

Is listed building: No
Is conservation area: No

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