2 bed terraced house for sale

Lancaster Hill, Peterlee SR8

Summary

Tenanted investment .. 525pcm rental income .. 10% + yield .. Property/tenant fully managed by Pattinson.

Sold via online auction.

Two bedroom mid terraced property situated on Lancaster Hill in the popular area of Peterlee.

Sold with as a tenanted investment, 525pcm rental income giving a rental yield over 10%, no rent arrears, well kept property, all certificates in places, property and tenant fully manged by Patterson's.

The property briefly comprises:- Entrance hall, lounge, kitchen, bathroom and two double bedrooms. With an enclosed rear courtyard and playing fields to the front.

For further information please contact Pattinson estate agents.

Council Tax Band: A
Tenure: Freehold

Lounge Diner

Large lounge/dining area with laminate flooring, 2 double glazed windows and radiator

Entrance Hall

Carpeted flooring, double radiator, under stairs cupboard and staircase leading to the 1st floor.

Kitchen

Well equipped with a range of wall and floor units, stainless steel sink with mixer tap, double integrated oven, electric hob and extractor> plumbed for a washer, double glazed window and tiled splash backs.

Landing

Carpeted landing and stairs with a double glazed window

Bedroom One

Carpeted flooring, double radiator and double glazed window the rear.

Bedroom Two

Carpeted flooring, double radiator and double glazed window the rear.

Family Bathroom

3 piece while suite consisting of a panelled bath with shower over, low level w/x and hand wash basin. Double glazed window and radiator.

Garden

Enclosed garden with outhouse storage.

Auctioneers Additional Comments

Pattinson Auction are referred to below as The Auctioneer. This auction lot is being sold under either conditional (Modern) or unconditional (Traditional) auction terms and overseen by the auctioneer. The property is available to view strictly by appointment only via any Marketing Agent or The Auctioneer. Please be aware that any enquiry, bid or viewing of the subject property will require your details being shared between any marketing agent and The Auctioneer so that all matters can be dealt with effectively. The property is being sold via a transparent online auction. To submit a bid on any property marketed by The Auctioneer, all bidders buyers must adhere to a verification of identity process in line with Anti Money Laundering procedures. Bids can be submitted at any time and from anywhere. Our verification process is in place to ensure aml procedures are carried out in accordance with the law

Auctioneers Additional Comments

The advertised price is commonly referred to as a Starting Bid or Guide Price and is accompanied by a Reserve Price. The Reserve Price is confidential to the seller and the auctioneer and will typically be within a range above or below 10% of the Guide Price, Starting Bid. These prices are subject to change. An auction can be closed at any time with the auctioneer permitting for the property (the lot) to be sold prior to the end of the auction. A Legal Pack associated with this particular property is available to view upon request and contains details relevant to the legal documentation enabling all interested parties to make an informed decision prior to bidding. The Legal Pack will also outline the buyers obligations and sellers commitments. It is strongly advised that you seek the counsel of a solicitor prior to proceeding with any property and/or Land Title purchase.

Auctioneers Additional Comments

In order to secure the property and ensure commitment from the seller, upon exchange of contracts the successful bidder will be expected to pay a non-refundable deposit equivalent to 5% of the purchase price. The deposit will form part of the purchase price. A non-refundable reservation fee of up to 6% inc VAT (subject to a minimum of 6,000 inc VAT) is also payable upon agreement of sale. The Reservation Fee is in addition to the agreed purchase price, and consideration should be given by the purchaser to any Stamp Duty Land Tax liability associated with the overall purchase costs. Both the Marketing Agent and the Auctioneer may consider it necessary or beneficial to pass customer details to third-party service suppliers, from whom a referral fee may be received. There is no requirement or obligation to use any recommended suppliers or services.