Summary - BONNERS RAFF 24 ST PETERS WHARF SUNDERLAND SR6 0AD
1 bed 1 bath Apartment
Compact riverside studio — strong advertised yield, sold at online auction.
Approximately 12% gross yield at advertised £550 pcm rent
This compact one-bedroom studio in Bonners Raff sits on the riverside edge just outside Sunderland city centre and presents clear buy-to-let potential. At a guide price of £55,000 and an advertised rent of £550 pcm, the stated gross yield is approximately 12% on the guide figure. The building offers allocated off-street parking, secure entry and an EPC C rating — practical features for lettings in a student-led neighbourhood.
The flat is a small, efficient open-plan studio with a privacy-screened sleeping area, walk-in closet and a modern bathroom. Finishes are low-maintenance (engineered wood flooring, neutral decoration) and the layout suits a single occupant or student tenant. Services include electric heating via boiler and radiators and double glazing (installation date unknown).
Important cautions for buyers: this is a leasehold property (approx. 104 years remaining) with ground rent of £220 and it will be sold at an online unconditional auction. Purchase terms include a non-refundable administration fee (£3,000 inc VAT) payable in addition to the purchase price and a 10% deposit (minimum £5,000) on exchange. The local context is a multicultural, student-dominated area with very high recorded crime and very high area deprivation — factors that affect tenant demand, insurance and resale.
This lot is best suited to experienced buy-to-let investors or those prepared to accept an urban student market and auction purchase process. Prospective purchasers should check the legal pack for confirmation of current tenancy status, service charges, any seller fees and verify the sale conditions before bidding.
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