Summary - 2 COLLINGWOOD COURT WASHINGTON NE37 3EB
3 bed 1 bath Flat
Low-price buy-to-let with strong headline yield for cash investors.
£25,000 BUY IT NOW price — high entry yield potential
Let at £495 pcm; long-term tenant in place (£5,940pa)
Leasehold ~86 years remaining
Sold via Online Unconditional Auction; buyer fees apply
Non-refundable admin fee and 10% deposit required on exchange
1970s block with dated interiors; needs cosmetic updating
EPC C, mains gas boiler, double glazing
Area: very deprived with high crime; impacts lettings/resale
This three-bedroom flat in Collingwood Court is offered with a BUY IT NOW price of £25,000 and is currently let to a long-term tenant at £495 pcm. For a cash investor the advertised rental produces a very high gross yield (around 23.8% on the guide price). The property sits in a 1970s purpose-built block with double glazing, gas central heating and an EPC rating of C.
Important sale terms: the flat is leasehold with approximately 86 years remaining and will be sold at auction under Online Unconditional Auction terms. Buyers must allow for substantial additional costs: auction fees, a non-refundable administration payment and a 10% deposit (or minimum £5,000) on exchange. Read the legal pack carefully before bidding.
Accommodation is arranged over two storeys with an entrance porch, lounge/diner with garden access, fitted kitchen, three double bedrooms and a bathroom plus separate WC. The block’s post‑war/brutalist architecture and dated internal decor mean straightforward cosmetic updating could increase appeal and rental value, but expect refurbishment costs.
Location and risks: the flat is on the outskirts of Washington with good road links to The Galleries, A1 and A19, fast broadband and excellent mobile signal. The area records high crime levels and is classified as very deprived, which may affect tenant turnover, lettings strategy and resale prospects. This lot suits cash buyers or investors comfortable with auction purchase conditions and potential refurbishment.
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