Summary - 85, Westmorland Rise, PETERLEE SR8 2ER
2 bed 1 bath Terraced
Auction lot: tenant in situ, cheap buy-to-let prospect requiring refurbishment.
Very low guide price — significant upside if refurbished
A two-bedroom mid-terrace offered freehold and sold at online auction with a tenant in situ — a clear purchase-for-investors. The property is priced very low and presents immediate rental income, making it suitable for buyers seeking a high-yield, value-add opportunity.
The house sits on a small plot with a modest rear garden and shows mid-20th century construction with weathering and signs of potential damp; photos and description indicate small rooms and basic finishes. Material improvement and refurbishment will be required to modernise kitchens, bathrooms and internal décor, and buyers should budget for repairs and possible damp remediation.
Located in Peterlee with good local broadband and mobile signal, low crime and nearby schools (several rated Good), the property benefits from access to shops and transport links. The surrounding area is listed as very deprived and classified as ageing industrious workers/challenged white communities — this affects long-term demand and capital growth risk.
Sold at auction with a 5% deposit and buyer’s premium payable on completion, this lot is chain-free with quick completion possible. The sale is unconditional on the fall of the hammer; legal pack and tenancy details should be reviewed carefully before bidding. This is best for experienced investors or hands-on buyers prepared to carry out renovation and manage an existing tenancy.
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