Auction-ready property with strong rental yield and quick completion potential.
Three generous bedrooms and large internal footprint (approx. 1,301 sq ft)
A straightforward investment opportunity in Thornaby offered chain-free and sold at auction. The three-bedroom terrace is large internally (approx. 1,301 sq ft) and currently needs cosmetic works — new carpets, decoration and general finishing — but presents strong rental yield potential in a well-served urban location.
Key practical points for buyers: the property is freehold, double glazed (post-2002), has no recorded flood risk and benefits from excellent mobile signal and fast broadband. There is no central heating system present (electric heaters assumed) and walls are likely solid brick with no insulation, so budget for basic thermals and heating installation when planning refurbishment.
Auction purchase brings a quick completion timetable (56-day reservation period) and additional buyer costs: a non-refundable reservation fee (4.5% of purchase price, minimum £6,600) and a Buyer Information Pack fee (£495 inc. VAT). These are material to your purchase calculations — inspect with your lender and read the pack before bidding.
The location offers local amenities, several well-rated schools nearby and street parking, but note the area records high crime statistics and very high deprivation. Suited to investors or buyers comfortable completing light-to-medium refurbishment, this property can be turned into a reliable rental or an economical family home with targeted investment.
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