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3 bed property, in 9. Grindleford Court, £60,000
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3 bed semi-detached house

9. Grindleford Court, South Shields, Tyne and Wear NE34 0HW
Auction
£60,000

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Our Summary

  • Auction Commencing on Monday 20th April at 1pm and ending 24 hours later on Tuesday 21st April from 1pm with Auction House North East Please register to bid via our website - auctionhouse
  • 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
  • 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
  • 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
  • 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

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Description

This three-bedroom semi-detached home has approximately 84m² of accommodation, including a spacious living room, separate dining area, fitted kitchen, utility room, and integral garage. The first floor contains three bedrooms, a family bathroom, and benefits from a front garden and driveway, an enclosed rear garden with decking area and lawn. The property presents in a serviceable condition, but would benefit from modernisation, and has an EPC rating of E.