Auction renovation project with clear value-add potential near town amenities.
Two good-sized bedrooms on one level, lounge and compact kitchen
This two-bedroom mid-terrace maisonette in Consett is a compact renovation opportunity for investors or hands-on buyers. Set over a single level, the layout includes two good-sized bedrooms, a lounge leading to a small kitchen with rear yard access, and a bathroom. The property is currently tenanted and requires refurbishment throughout, giving scope to add value through updating and redecoration.
Sold by auction on a leasehold basis, buyers should allow for auction costs: a non-refundable reservation fee of 4.5% of the purchase price (minimum £6,600) and a Buyer Information Pack fee of £300. These sums are payable in addition to the purchase price and should be considered when budgeting. The building is Victorian, likely solid sandstone/limestone walls without added insulation, and has double glazing of unknown age.
Practical considerations: mains gas central heating operates via boiler and radiators, mobile signal and broadband are strong, and the area has good local amenities and schools. Crime levels are above average and the neighbourhood profile skews toward ageing urban communities; rental demand is present but factor in refurbishment costs and potential safety, compliance, and council requirements for letting.
Overall, the property suits an investor seeking a low-entry auction purchase to refurbish and re-let, or a buyer aiming to create a comfortable home with cosmetic and fabric improvements. Inspect carefully with your lender or surveyor before bidding and budget for renovation, auction fees, and leasehold implications.