Loraine Terrace, Lemington

For sale by auction – Live online Auction 29th October 2026 – Option 2

Offered for sale with no onward chain, this one-bedroom ground floor flat presents an excellent opportunity for investors, landlords, or buyers looking for a project.

The accommodation comprises an entrance lobby, spacious lounge, fitted kitchen, bathroom/W.C., and a good-sized bedroom. In addition, there is a second reception room which offers flexible accommodation and is ideal as a study, home office, or occasional room. Please note that this room does not benefit from a window and is therefore not considered a bedroom.

While the property would benefit from updating and modernisation throughout, it offers excellent potential to add value and create a comfortable home or rental investment. Externally, there is a low-maintenance gravelled front garden and an enclosed rear yard.
Early viewing is recommended to appreciate the potential on offer.

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 seller’s 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 £2000+VAT (total £2400) Auction Administration Fee.

Joint Agents: The Agents Property Auction Ltd. Tel 01661 831360. Terms and conditions apply see www.agentspropertyauction.com

PRIMARY SERVICES SUPPLY
Electricity: Mains
Water: Mains
Sewerage: Mains
Heating: Mains – Gas
Broadband: Unknown 
Mobile Signal Coverage Blackspot: Yes, in some areas on the property 
Parking: On Street 

MINING 
The Northeast region is famous for its rich mining heritage and therefore it will be beneficial to conduct a mining search.  Confirmation should be sought from a conveyancer as to its effect on the property, if any.  

RESTRICTIONS AND RIGHTS
Public rights of way through the property? Yes, flat upstairs uses front door  

Tenure:
Leasehold.  It is understood that this property is leasehold. Should you decide to proceed with the purchase of this property, the Tenure and associated details and costs must be verified by your Legal Advisor before you expend costs.
Length of Lease: 999 years from 6 May 2008
Ground Rent: £0

COUNCIL TAX BAND: A
EPC RATING: D