Summary - Southway, Peterlee, SR8 SR8 1DX
2 bed 1 bath Semi-Detached
Auction sale with steady income for cash buyers or experienced investors.
Currently let under a 5-year charity lease, providing immediate rental income
Offered at auction, this two-bedroom semi-detached property in Southway, Peterlee, is presented as an income-producing investment with an existing charity lease in place. The tenancy currently produces £560 per calendar month and is described as a fully managed, hands-off arrangement for a five-year term — appealing to buyers seeking immediate, steady rental returns. The home includes a conservatory option and flexible layout equating to roughly 81 sqm of living space, plus a small garden and single garage.
The building dates from the late 1970s/early 1980s, benefits from double glazing and mains gas central heating, and sits in a neighbourhood served by fast broadband and excellent mobile signal. Council tax is very low, and local schools include several rated Good or Outstanding, which supports longer-term rental demand.
Important cautions are clear: the sale notes only five years remaining on the lease, while the tenure is stated as freehold — this combination requires legal clarification and will likely deter mortgage lenders. The area has above-average crime and high deprivation levels, which affects tenant profiles and rental risk. The plot is small and the property may need updating or refurbishment to maximise capital growth.
This is best suited to cash buyers or experienced investors comfortable with auction purchases and lease/licence complexities. If you can manage the legal and financing constraints, the property offers immediate rental income and potential for value-add through refurbishment once lease issues are resolved.
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