AUCTION SALE – CASH OR AUCTION FINANCE WELCOME – COMPLETE IN 28 DAYS

Description

INFORMATION FROM THE AGENT

Investment Opportunity – Two Self-Contained Flats

Freehold property comprising two self-contained flats, ideally located in the heart of Easington Colliery, Peterlee. The property requires refurbishment and offers excellent potential to add value.

The ground floor flat briefly comprises a spacious lounge, two bedrooms, galley style kitchen, dining room and bathroom.
The flat to the first and second floors comprises a spacious lounge, kitchen, two double bedrooms, third smaller bedroom and bathroom. Both flats benefit from their own private entrance.

Following improvement works, the property is estimated to achieve a combined rental income of approximately £1,150 PCM (£13,800 per annum), representing an estimated gross yield of around 30% at guide price (figures to be independently verified and are before required works).

Well positioned within a popular residential area close to local amenities, with Horden Railway Station nearby providing links to Sunderland and Newcastle, and easy access to the A19 for wider regional commuting.

Ideal opportunity for investors seeking a high-yield, value-add project.

INFORMATION FROM THE AUCTION COMPANY
All marketing material, including property descriptions and imagery, has been provided by the introducing agent.
The Auction Company does not verify this information.
Buyers are advised to arrange an in-person viewing (by appointment only) and satisfy themselves as to the condition and legal position of the property before bidding or making an offer.

METHOD OF SALE
This property is offered for sale by Timed Online Auction (Unconditional).
Bidding takes place online via The Auction Company website.
The bidding end date and time are clearly displayed on the listing.

REGISTRATION TO BID OR MAKE AN OFFER
To bid or submit an offer, buyers must:
- Complete online registration
- Pass identity and AML checks (legal requirement)
- Register valid payment details
- A £1,000 hold/shadow payment will be placed on your card.
- By bidding or making an offer, you confirm acceptance of The Auction Company’s Auction Terms & Conditions, Buyer’s Terms, Legal Pack and Special Conditions of Sale.

AUCTION TYPE - TRADITIONAL METHOD OF AUCTION (UNCONDITIONAL)
All bids and offers are legally binding.
Exchange of contracts takes place immediately upon acceptance.
Completion is required within 28 days, unless stated otherwise in the legal pack.
If you are the successful buyer:
- The £1,000 hold payment will be deducted and credited toward the Buyer’s Premium.
- You must pay:
- The 10% deposit (non-refundable)
- Any remaining Buyer’s Premium balance
- All payments must be made within 2 hours of acceptance.
- All remaining balances must be paid by bank transfer only. No card payments are accepted.
- The Buyer’s Premium is 4% + VAT (minimum £5,000 + VAT) and is non-refundable.

PRE-AUCTION & POST-AUCTION OFFERS
The seller may consider offers made before or after the auction.
For clarity:
- All pre-auction and post-auction offers are treated as auction sales.
- The same auction terms, Buyer’s Premium, deposit requirements and completion timescales apply.

LEGAL PACK
Each property is sold subject to a legal pack, which may be updated at any time before the auction.
Buyers must:
- Download and review the legal pack before bidding or making an offer.
- Take independent legal advice if required.
- Check for updates immediately before bidding.
- By bidding or making an offer, you are deemed to have read and accepted the legal pack in full.

SPECIAL CONDITIONS OF SALE
Special Conditions of Sale are set by the seller and are legally binding.
They are contained within the legal pack and override all general auction terms where applicable.

Council Tax Band

A