2 bed property for sale

Lindsey Close, Cramlington NE23

Summary

**** for sale via online auction - fees apply ****

Offered to the market by auction, this superb investment opportunity is situated in the heart of Cramlington with excellent community amenities and commuter links. The property consists of two separate flats within a single building, accompanied by two garages and gardens to the front and rear, making it an attractive proposition for investors or landlords seeking to expand their portfolio.

The ground floor flat is currently tenanted, yielding a reliable rental income of 500 per calendar month. The upper flat, available with vacant possession, holds a strong potential rental value of approximately 650 per calendar month. Both properties benefit from practical layouts and offer the scope for further enhancement, providing excellent potential to maximise returns.

With two garages included, providing an opportunity to let separately approximately 60 pcm each. The garden to the rear offers outdoor space for both flats, ideal for tenant enjoyment.

Cramlington itself is perfectly placed for modern living, with a wealth of local amenities close by. The Manor Walks Shopping Centre offers a great selection of high street shops and eateries, while leisure activities can be found at the Concordia Leisure Centre and within the greenery of Alexandra Park. Families are well catered for with outstanding local schools, and excellent transport links provide swift access to Newcastle city centre, the A1, and the nearby coast.

Please note the property comes with a low lease, so it is suitable for cash buyers only. There maybe the potential to purchase the freehold. This is a unique chance to acquire a compact portfolio in a popular area, with immediate income and exciting scope for future development.

Don't miss out on this prime investment opportunityenquire now to arrange your viewing.

Council Tax Band: A
Tenure: Leasehold
Length of Lease: 46

Auctioneers Additional Comments

Pattinson Auction are referred to as The Auctioneer. This auction lot is being sold by either conditional (Modern) or unconditional (Traditional) auction terms and overseen by The Auctioneer. The method of auction sale and the applicable terms and conditions are found on the lot page of this property on The Auctioneers website. The property is available to view strictly by appointment only via any Marketing Agent or The Auctioneer. Please be aware that any enquiry, bid or viewing of the subject property will require your details to be shared between any marketing agent and The Auctioneer so that matters can be dealt with effectively. The property is being sold via a transparent online auction. To submit a bid, all bidders must adhere to a verification of identity process in line with Anti Money Laundering procedures. Bids can be submitted at any time and from anywhere.

Auctioneers Additional Comments

The advertised price is commonly referred to as a Starting Bid or Guide Price and is accompanied by a Reserve Price. The Reserve Price is confidential to the seller and The Auctioneer and will typically be within a range above or below 10% of the Guide Price or Starting Bid. These prices are subject to change. An auction can be closed at any time, with The Auctioneer permitting the property (the lot) to be sold prior to the end of the auction. A Legal Pack associated with this property is available to view upon request and contains details relevant to the legal documentation, enabling all interested parties to make an informed decision prior to bidding. The Legal Pack will also outline the buyers obligations and sellers commitments. It is strongly advised that you seek the counsel of a solicitor prior to proceeding with any property and/or Land Title purchase.

Auctioneers Additional Comments

In order to secure the property and ensure commitment from the seller, upon exchange of contracts the successful bidder will be expected to pay a non-refundable deposit equivalent to 5% of the purchase price. The deposit will form part of the purchase price. A non-refundable reservation fee of up to 6% inc VAT (subject to a minimum fee which could be up to 7,200 inc VAT) is also payable upon agreement of sale. The Reservation Fee is in addition to the agreed purchase price, and consideration should be given by the purchaser to any Stamp Duty Land Tax liability associated with the overall purchase costs. Both the Marketing Agent and The Auctioneer may consider it necessary or beneficial to pass customer details to third-party service suppliers, from whom a referral fee may be received. There is no requirement or obligation to use any recommended suppliers or services.