Summary - 56 OLIVE STREET SOUTH SHIELDS NE33 4RH
1 bed 1 bath Flat
Affordable retirement-option close to metro with clear renovation potential.
One double-fronted ground-floor bedroom flat with vacant possession
Short walk to Tyne Dock Metro — good for commuting
Homewise Lifetime Lease option for over-60s (guide price £28,500)
Requires full modernisation: kitchen, finishes and general repairs
Leasehold 99 years from 1983; ground rent £15 pa — check lease
Area classified very deprived; local crime levels are high
EPC C; double glazing present, insulation assumed absent
Broadband speeds fast and mobile signal excellent
Ground-floor one-bedroom flat in a Victorian mid-terrace, offered with vacant possession and straightforward access to Tyne Dock Metro. The layout is generous for a single occupant or downsizer, with a large lounge, separate kitchen and a sizeable bedroom. Broadband and mobile reception are strong, and Council Tax is low (Band A).
The property requires modernisation throughout — cosmetic updating, kitchen replacement and general repair work are needed. It is leasehold (99 years from 1983) with a small annual ground rent of £15; buyers should verify full lease terms and any costs before purchase. EPC is C and the building has double glazing, but wall insulation is assumed absent.
This home is marketed as suitable for over-60s through the Home for Life Lifetime Lease option from Homewise: eligible buyers can purchase a reduced Lifetime Lease price (illustrative guide price £28,500) or a share up to 50% to safeguard value. The full market price is £42,500; actual Lifetime Lease price varies by age and circumstances.
Location is practical for commuting and local services, close to Tyne Dock Metro and nearby shops and amenities. Note the surrounding area is classified as very deprived with higher-than-average crime; purchasers and investors should consider local market conditions and any required safety or security improvements.
1 bedroom flat for sale in Olive Street, South Shields, NE33 — £45,000 • 1 bed • 1 bath • 819 ft²
2 bedroom flat for sale in Ashley Road, South Shields, NE34 — £67,000 • 2 bed • 1 bath • 687 ft²
3 bedroom flat for sale in Crondall Street, South Shields, NE33 — £53,500 • 3 bed • 1 bath • 722 ft²
2 bedroom flat for sale in Whitehead Street, South Shields, NE33 — £48,500 • 2 bed • 1 bath • 676 ft²
2 bedroom flat for sale in Stanhope Road, South Shields, NE33 — £77,000 • 2 bed • 1 bath • 787 ft²
3 bedroom flat for sale in Stanhope Road, South Shields, NE33 — £53,500 • 3 bed • 1 bath • 700 ft²
