2 bed terraced house for sale

Ashton Street, Easington Colliery, Peterlee SR8

Summary

An excellent turnkey investment opportunity offering an impressive 12% annual rental yield, with a sitting tenant in place and no onward chain!

Pattinson Estate Agents are delighted to offer for sale this well-maintained, two-bedroom terraced property in Peterlee. Ideally suited to investors seeking an income-producing addition to their portfolio, the property is being sold with a sitting tenant in place, providing rental income from day one.

The property currently achieves 400 per calendar month, generating an annual rental income of 4,800 and an attractive 12% gross rental yield. The property has been well maintained by the current tenant, with no rent arrears, offering a straightforward investment opportunity without the need to source a tenant or undertake immediate refurbishment.

The accommodation comprises two bedrooms, a reception room and a bathroom, benefiting from gas central heating. Externally, there is a private garden, with on-street parking available.

Further benefits include freehold tenure, an EPC rating of 61 and Council Tax Band A.

An ideal opportunity for both new and experienced landlords looking for a ready-made buy-to-let investment with an established tenant, immediate rental income and an attractive return.

Council Tax Band: A
Tenure: Freehold

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.