Summary - 15 Elsdon Terrace NE29 7AS
2 bed 1 bath Ground Flat
Low-cost auction purchase with rental potential close to coast and transport.
Auction sale — starting bid reported at £50,000 plus reservation fee
This ground-floor, two-bedroom flat on Elsdon Terrace is a low-cost entry into the North Shields market and presents clear potential for a landlord or cash buyer prepared to renovate. The building retains period character, benefits from gas central heating and double glazing, and offers estimated rental income of about £550–£650 pcm once updated.
Important practical points are straightforward: the property is offered for sale by modern auction (starting bid noted at £50,000 plus reservation fee), is leasehold with around 70 years remaining, and requires renovation throughout. The short lease and the need for works mean mortgage lenders may refuse mortgages, so buyers should check funding options and factor in buyers’ fees and auction conditions.
Location strengths include fast broadband, excellent mobile signal, good local transport links and easy access to coastal amenities such as Tynemouth and the Fish Quay. Conversely, the immediate area scores as very deprived with above-average crime — relevant for owners and landlords assessing tenant demand and long-term value.
For investors this is a value-refurbishment opportunity with rental upside once updated; for first-time buyers or downsizers it’s a possible project if you can manage lease, funding and renovation risks. Legal confirmation of tenure, lease length, and all auction terms is essential before purchase.
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