Summary - Ramsay Street, Rowlands Gill NE39 2EJ
3 bed 2 bath Flat
Immediate rental income with short-term uplift potential after planned rent rises.
Freehold mid-terrace pair of flats, sold as one lot
Two-bed ground-floor flat; one-bed first-floor flat (once two-bed)
Sold with tenants in situ; rents currently £425pcm each
Landlord served notice to increase rents to £500pcm each
Gross income rising to approx. £12,000pa on increased rents
Auction sale — guide price/reserve may differ; buyer fee £2,400 inc. VAT
Cavity walls with no known insulation; potential refurbishment needed
EPCs rated C; Council Tax Band A (very cheap)
For sale by online auction, this mid-terrace property on Ramsay Street comprises two self-contained flats offered as a single freehold lot. Both flats are currently let and producing immediate income, making the pair a straightforward purchase for a hands-off investor. The building dates from the early 20th century and retains a Victorian brick façade with double glazing and gas central heating throughout.
The ground-floor flat features an open-plan lounge/kitchen, two bedrooms and a bathroom; the first-floor flat provides a lounge, dining kitchen, bedroom and bathroom but was originally a two-bed layout, so there's scope to reconfigure. Both flats have EPC ratings of C and share a rear yard. The vendor has served notice to increase each rent to £500 pcm, which, if applied, would lift gross income to approximately £12,000 pa.
Buyers should note the property is offered at auction with a guide price and an undisclosed reserve; the purchaser will pay an auction administration fee (£2,400 including VAT). The flats are sold with tenants in situ on assured periodic tenancies—intended for investors who want immediate rental return rather than vacant possession.
Practical points: walls are cavity as built with no known insulation upgrades; buyers should verify tenure and tenancy documentation and check any refurbishment costs. The location benefits from good local schools, quick broadband potential and average local crime and deprivation levels, supporting long-term lettability.
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