investment in NE29

William Street, North Shields, Tyne and Wear, NE29 6RJ

Current Bid
£125,000
Starting Bid £115,000
2 Bids
Sold

Online auction

Alternatively call 0191 580 1587 or email commercial@pattinson.co.uk

  • Tenanted Investment
  • Freehold Title
  • 3 x Apartments
  • Generating Approx. £14,810pa
  • Central Location

investment in NE29

FOR SALE BY AUCTION: Terms and conditions apply.

We are pleased to offer for sale via online auction this block of three apartments, currently arranged as a two/three bed Maisonette on the top floor, a one bed on the ground floor an an additional one bed apartment in the basement.

The property is being offered fully tenanted and is currently achieving £14,810pa over the full building.

Please note the Pattinsons have not inspected this property.

Summary

  • Property Type: Investment
  • Tenure: Freehold
  • Parking: On Street

Location

The subject property is well located along William Street . This property is located within easy reach of local amenities, transport links and schools. The subject property is located approximately 0.8 miles from North Shields town centre and approximately 8.5 miles from Newcastle city centre.

Accomodation

Briefly consisting of;
Basement Flat
Lounge - (5.11m x 4.32m) UPVC double glazed window, radiator.
Bedroom - (4.27m x 2.74m) UPVC double glazed window, radiator.
Kitchen - (3.51m x 2.77m) Range of wall and floor units, stainless steel sink unit, electric hob with under oven, extractor hood.
Bathroom WC - White suite with panel bath, pedestal wash hand basin, low level wc, tiled floor.
External - Shared rear yard.

Ground Floor Flat
Kitchen / Dining Room - (5.08m x 3.73m) Range of wall and base units, stainless steel sink unit, electric hob and oven, chimney style extractor, tiled flooring, radiator, UPVC double glazed window.
Lounge - (4.95m x 3.86m) Two double glazed windows and radiator.
Bedroom - (4.98m x 2.34m) Two double glazed windows and radiator.
Bathroom WC - White suite with panel bath, pedestal wash hand basin, low level wc, tiled floor.
Inner Hallway - Radiator and access to yard.
External - Shared rear yard.

First Floor Maisonette
Lounge - (4.98m x 4.11m) Radiator, fire surround, two double glazed windows.
Bedroom One - (4.93m x 2.18m) Radiator, double glazed window.
Kitchen - (3.76m x 3.07m) Beech effect fitted kitchen with stainless steel sink unit, electric hob, oven, tiled flooring and double glazed window.
Rear Lobby - Tiled flooring, double glazed window.
Bathroom WC - White suite with panel bath, pedestal wash hand basin, low level wc, tiled floor.
Second Floor -
Bedroom Two - Radiator, double glazed window access to :-
Dressing Room - Radiator, double glazed window.
External - Shared rear yard.

Lease Details

20a
Moved in 08/19
Rent £100pw
20b
Moved in 11/20
Rent - £400pcm
20c
Moved in 12/18
Rent - £92.50pw

Tenure

Freehold; Title number - TY264191

EPC

20a - rating D
20b - rating D
20c - rating E

Additional Information

For further information please contact our office direct on 0191 737 1154, or alternatively via e-mail on commercial@pattinson.co.uk. With regards to viewing the subject property, this is to be done strictly by appointment through Keith Pattinson Commercial department. Please contact us to arrange an internal inspection, or to register your interest.

This property is being sold subject to unconditional auction terms and conditions.

 

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 10% deposit subject to a minimum of £3,600 which contributes towards the overall purchase price of the property.

The deposit is non-refundable. 

 

Buyer Fees

There is an administration charge payable by the buyer of £650 + VAT (£780 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 auction@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.  

At the point of registration, you will be required to insert credit or debit card details as a way of payment towards the deposit and or reservation fee. We will only hold a nominal amount (which will be stated at the point of bidding) to enable you to bid. This amount will only be debited from your account should you be the successful bidder, in the event you are unsuccessful the agreed amount will be released back to your card within three business days.  If you are the successful bidder we will debit the agreed amount from your account immediately at the close of the auction, we will then contact you to confirm the outstanding balance (if applicable) at which point you can opt to use the same card.  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 for 10 minutes. After 10 minutes without a bid, 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. It is the bidder's responsibility to ensure the bid has been lodged with the auctioneer. 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 £750,001 - £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. 

Please login to view legal packs for this property.