3 bed semi-detached house for sale

Grindleford Court, South Shields NE34

3-Bed Semi With Garage, £550 Pcm Income, £900+ Potential, Sold Via Auction.

Auction Commencing on Monday 23rd March at 1pm and ending 24 hours later on Tuesday 24th March from 1pm with Auction House North East

Please register to bid via our website -
Three-Bed Semi with Garage – £900+ pcm Rental Potential.
An excellent investment opportunity to acquire this three-bedroom semi-detached home, offered for sale by auction and currently sold tenanted at £550 pcm on a periodic month-to-month agreement.

The property is currently let to a long-standing tenant (family friend of the vendor), with rent paid on time and fully up to date. The tenant is aware that the property is being sold and that the current rent is below market value.

Investment Highlights

Current rental income: £550 pcm (£6,600 per annum)
Tenancy: Periodic (month-to-month rolling agreement)
Market rental potential: Circa £900+ pcm
Tenant payment history: No arrears – rent up to date
Flexible exit strategy: Increase rent in line with market value or obtain vacant possession to refurbish and resell
This presents a strong opportunity for investors seeking either immediate yield with scope for uplift, or a value-add refurbishment project with resale potential.

Accommodation

The property offers approximately 84m2 of accommodation (excluding garage) and briefly comprises:

Ground Floor:

Entrance hall
Spacious living room (4.5m x 3.4m)
Separate dining area
Fitted kitchen (2.6m x 3.3m)
Utility room
Integral garage (2.6m x 4.9m)

First Floor:

Main bedroom (2.6m x 4.2m)
Bedroom two (2.6m x 3.9m)
Bedroom three (2.0m x 3.0m)
Family bathroom

Externally, the property benefits from a front garden and driveway, together with an enclosed rear garden with decking area and lawn.

Condition & Potential

The property is presented in serviceable condition but would benefit from modernisation in areas, offering clear scope to enhance value through cosmetic updating or more extensive renovation.

Based on local comparables, once improved the property could achieve rental levels in the region of £900+ pcm, or alternatively appeal strongly to the owner-occupier market.

Location

Situated in a popular residential area of South Tyneside (NE34), the property is conveniently positioned for local amenities, schools, transport links and commuter routes.

Summary

A versatile investment opportunity offering:

Immediate rental income
Significant rental uplift potential
Option to renovate and flip
Strong long-term growth prospects
Tenure: Freehold
EPC Rating: E
Administration Fee: £3600 inc VAT payable on exchange of contracts.
Disbursements: Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.