Summary - 388 STANHOPE ROAD SOUTH SHIELDS NE33 4RB
2 bed 1 bath Ground Flat
Cash-ready buy-to-let with renovation potential near transport links.
Two-bedroom lower flat in Victorian terrace, approx. 786 sq ft
Gas central heating and double glazing throughout
No upper chain — sold via online auction (fees apply)
Lease 61 years remaining — lenders likely to refuse mortgages
Strong public transport links; close to Metro and local shops
High crime and very deprived area — affects resale/rent risk
Shared rear yard; average condition, may need cosmetic updating
Council tax band A — very low ongoing local tax cost
A two-bedroom lower flat in a Victorian terrace, offered for sale at auction and sold with no upper chain. The accommodation includes a lounge, kitchen, bathroom, two bedrooms and a shared rear yard. The property benefits from gas central heating and double glazing and sits close to Metro and local amenities, which supports buy-to-let potential.
Important buyer note: the lease has 61 years remaining. Mortgage lenders will likely refuse to lend on this property; it is best suited to cash buyers or those able to arrange specialist lending. Auction fees apply and buyers should budget for those costs.
The area has fast broadband, excellent mobile signal and good transport links, but it scores high for crime and is in a very deprived local area classification. The flat is average sized (approximately 786 sq ft) and may need cosmetic updating to maximise rental income or resale value.
This property will interest investors seeking a low-entry purchase in need of basic refurbishment or buyers prepared to buy outright. Carry out lease extension advice, pre-auction surveys and checks on lending options before bidding.
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