Investment Opportunity

For sale by auction, as an investment opportunity, are these two top floor flats which are to be sold as a pair, located in Grainger Park. The accommodation to each flat briefly comprises of open plan lounge/kitchen, bedroom and bathroom. We have been advised by the current owner that both flats are currently let out at £700 per month each. Flat C1 12 month tenancy commenced 29/08/2023, Flat C2 12 month tenancy commenced 30/10/2023.

The properties benefits from double glazing throughout.

The properties are situated close to local public transport routes to and from Newcastle city centre, the MetroCentre, and easy access to the A1 and A69.

Early viewing is recommended.

Council Tax Band: Each flat – A
EPC Ratings: C & D

PRIMARY SERVICES SUPPLY
Electricity:  Mains 
Water:  Mains  
Sewerage:  Mains  
Heating:  Gas 
Broadband:  ASDL 
Mobile Signal Coverage Blackspot:  No 
Parking:  Off Street Parking  

MINING
It is not known if the property is situated on a coalfield.  It is also not known if the property has been directly impacted by the effect of other mining activity. The North East region is famous for its rich mining heritage and confirmation should be sought from a conveyancer as to its effect on the property, if any.

TENURE
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:  962 years remaining as at January 2024

No ground rent or service charge.

For Sale by Auction:   Tuesday 30th April 2024
Option 1
Terms and Conditions apply

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

Terms and conditions apply see website www. Agents Property Auction. Com