4 bed flat for sale in Stanhope Road, South Shields, NE33

FOR SALE BY WAY OF ONLINE AUCTION - ON 30TH OF MAY 2024. Terms and Conditions apply. See Agents Property Auctions Website for full details. www.agentspropertyauction.com

Introducing a prime investment opportunity situated in the bustling locale of Stanhope Road, this property beckons savvy investors seeking great returns. Boasting a pair of flats and a commercial shop unit, this property stands tall on a busy road with excellent transport links, ensuring a steady stream of foot traffic and visibility for businesses.

The flats are currently let but will be offered with vacant possession which presents the perfect canvas for landlords to curate their ideal tenant profile and set rents according to market demand, promising an anticipated yield of betweenf £15,600 (currently) and £18,000 per annum. With the freedom to handpick tenants, landlords can tailor their investment strategy to maximize profitability while maintaining full control over their property.

Complementing the residential aspect, the commercial shop unit adds another dimension to this investment gem. Currently leased with approx two years remaining, the shop unit generates a consistent income of £400 per month, providing a reliable stream of revenue for the foreseeable future.

With its strategic location, versatile rental options, and promising yield potential, this investment property presents a golden opportunity for astute investors looking to capitalize on the investment market. Don't miss your chance to secure a sound investment that presents both stability and growth in the ever-evolving landscape of property investment.

GROUND FLOOR FLATCurrently rental income £400PCM.

ENTRANCEDoor into Lobby.

LOBBYAccess into Hallway.

HALLWAY

LOUNGE4.34m (14'3) x 3.12m (10'3)Fire with surround, window and door into Kitchen.

KITCHEN2.74m (9'0) x 1.93m (6'4)Wall and floor units, part tiling to walls, window, sink unit with mixer tap, plumbing for washing machine, space for oven, boiler is located here, space for fridge freezer and door into Bathroom.

BATHROOM3.68m (12'1) x 1.63m (5'4)Panelled bath with shower over and shower screen, part tiling to walls, pedestal hand wash basin, low flush W.C., two windows and radiator.

FRONT BEDROOM5.26m (17'3) x 3.2m (10'6)Bay window.

EXTERNALLYPart yard to rear.

FIRST FLOOR FLAT

ENTRANCEDoor into Lobby.

LOBBYStairs to First Floor Landing.

FIRST FLOOR LANDINGDual staircase accessing three rooms.

FRONT BEDROOM / LOUNGEElectric fire with surround and bay window.

LOUNGEWindow and door into Kitchen.

FRONT BEDROOMBay window.

REAR BEDROOMRadiator.

KITCHENWall and floor units, part tiling to walls, window, sink unit with mixer tap, boiler is located here, integrated oven and hob with overhead extractor hood, plumbing for washing machine, door into Bathroom and door leading to stairs down to rear yard.

BATHROOMPanelled bath with shower over and shower screen, pedestal hand wash basin, low flush W.C., radiator, two windows and part tiling to walls.

EXTERNALLY Part yard to rear.

SHOP3.78m (12'5) x 5.56m (18'3)Currently trading as a Mobile Phone Shop.
Front retail shop, accessed via roller shutter doors.

REAR STORE SPACE 3.91m (12'10) x 3.07m (10'1)Sink unit.

CLOAKS W.C.Low level W.C.

TenureWe will provide as much information about tenure as we are able to and in the case of leasehold properties, we can in most cases provide a copy of the lease. They can be complex and buyers are advised to take legal advice upon the full terms of a lease. Where a lease is not readily available we will apply for a copy and this can take time.

Council TaxThe GOV.UK website states that both flats Council Tax Band is : A

Money Laundering RegulationsPlease note that any offers will require you to be financially verified, meaning you'll need to provide us sight of a mortgage in principle, proof of deposit funds, and proof of cash. You'll also need to provide us with full chain details including agents and solicitors down the chain. To comply with Money Laundering Regulations all buyers will be required to provide us with proof of identification before we can issue acceptance letters and solicitors are instructed.

Material InformationThe information provided about this property does not constitute or form part of an offer or contract, nor may it be regarded as representations. All interested parties must verify accuracy and your solicitor must verify tenure and lease information, fixtures and fittings and, where the property has been recently constructed, extended or converted, that planning/building regulation consents are in place. All dimensions are approximate and quoted for guidance only, as are floor plans which are not to scale and their accuracy cannot be confirmed. Reference to appliances and/or services does not imply that they are necessarily in working order or fit for purpose. We offer our clients an optional conveyancing service, through panel conveyancing firms, via Move With Us and we receive on average a referral fee of one hundred and ninety four pounds, only on completion of the sale. If you do use this service, the referral fee is included within the amount that you will be quoted by our suppliers. All quotes will also provide details of referral fees payable.

Ground Floor Flat EPC Rating: D
First Floor Flat EPC Rating: C

Each auction property is offered at a guide price and is also subject to a reserve price. The guide price is the level where the bidding will commence. The reserve price is the sellers minimum acceptable price at auction and the figure below which the auctioneer cannot sell. The reserve price, which may be up to 10% higher than the guide price, is not disclosed and remains confidential between the seller and the auctioneer. Both the guide price and the reserve price can be subject to change up to and including the day of the auction. The successful buyer pays a andpound;2000.00+VAT (total andpound;2400.00) Auction Administration Fee. Joint Agent The Agents Property Auction Ltd. Tel: 01661 831 360