Summary - 32 SLEDMERE CLOSE PETERLEE SR8 5JN
2 bed 1 bath Flat
Low-cost auction buy with rental income potential and vacant possession.
Vacant possession — sold via online auction, bidding 24–25 Nov
Offered for sale by online auction with bidding opening 24 Nov and closing 25 Nov, this two-bedroom leasehold ground-floor apartment comes with vacant possession and clear rental prospects. At an estimated £475 pcm, expected annual income is around £5,700 — attractive for buy-to-let investors prepared to refurbish. The property is small (about 699 sq ft) and sits in a mid-20th-century building with a private garden.
The flat requires modernisation throughout: internal photos show worn flooring, dated decor, an old radiator and general neglect. EPC rating C and mains gas central heating are positive practical points, but the sale carries a £3,600 (inc. VAT) administration fee payable on exchange and other disbursements listed in the legal pack. Leasehold tenure means buyers should check the lease length and service charges in the legal pack before bidding.
Location benefits include fast broadband, excellent mobile signal, nearby amenities, bus links and several ‘Good’ rated primary and secondary schools. The area is described as very deprived with higher crime levels; this affects tenant demand and rental risk, so factor in lettability and management costs. Flood risk is low.
Suitable for investors or experienced renovators, this lot offers a low entry price and clear scope to add value through cosmetic and systems upgrade. Budget realistically for refurbishment, legal fees and the auction administration charge before placing a bid.
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