Southway, Peterlee, SR8
- PROPERTY TYPE
Semi-Detached
- BEDROOMS
2
- BATHROOMS
1
- SIZE
8,100 sq ft
752 sq m
- TENUREDescribes how you own a property. There are different types of tenure - freehold, leasehold, and commonhold.Read more about tenure in our glossary page.
Freehold
Description
We are delighted to present this excellent buy-to-let investment property, ideally positioned within a popular residential area of Peterlee. Offering a completely hands-off investment model, this home is currently let under a charity lease, providing guaranteed rental income for a full 5-year term. With no day-to-day landlord responsibilities and secure, reliable returns, this opportunity is perfectly suited to investors seeking long-term stability.
The property offers approximately 81 sqm of living space and can be utilised as either a 2-bedroom or 3-bedroom layout, offering flexibility to suit a range of tenant needs. The internal accommodation includes one or two reception rooms, depending on configuration, along with a bright conservatory that enhances the ground floor living space.
Currently generating £560 per calendar month, with an agreed increase due, the property offers an attractive and dependable yield backed by the assurances of the charity lease structure.
Entrance Hall
UPVC glazed entrance door leading to hall way with doors leading off to
2nd Reception Room/3rd Bedroom
UPVC glazed window, radiator
Living Room
UPVC glazed window, stair case leading to first floor, door leading to
Kitchen
UPVC glazed window, wall and floor units, built cooker and hob, 1 1/2 stainless steel sink unit, radiator, double doors leading to
Conservatory
Double doors leading to enclosed paved garden
First Floor
Landing with doors off
Bedroom 1
UPVC glazed window, radiator
Bedroom 2
UPVC glazed window, radiator
Bathroom
White 3 pc suite, bath with electric shower over, shower screen, low level w/c, pedestal hand basin.
Garden
Gardens to the front, enclosed paved rear garden
Terms & Conditions 1
This property is for sale by the Modern Method of Auction, meaning the buyer and seller are to Complete within 56 days (the "Reservation Period"). Interested parties personal data will be shared with the Auctioneer (iamsold).
If considering buying with a mortgage, inspect and consider the property carefully with your lender before bidding.
A Buyer Information Pack is provided. The winning bidder will pay £300.00 including VAT for this pack which you must view before bidding.
Terms & Conditions 2
The buyer signs a Reservation Agreement and makes payment of a non-refundable Reservation Fee of 4.50% of the purchase price including VAT, subject to a minimum of £6,600.00 including VAT. This is paid to reserve the property to the buyer during the Reservation Period and is paid in addition to the purchase price. This is considered within calculations for Stamp Duty Land Tax.
Services may be recommended by the Agent or Auctioneer in which they will receive payment from the service provider if the service is taken. Payment varies but will be no more than £450.00. These services are optional.
Disclaimer 1
We do not give Financial or Legal advice. Any information or communication should not be construed as such.
• We cannot be held responsible for any losses incurred or failure of the client to take professional and legal advice.
• Please note due to the nature of our instructions the description and photographs are for guidance only. Therefore it is very important that you seek professional advice from a surveyor, solicitor and accountants etc before proceeding.
• We can provide a personalised site visit if required.
• We do not test any equipment or carry out building surveys at the property and are unable to give any warranty as to the condition and working order of appliances, heating systems, electrics or construction.
Disclaimer 2
• The information provided in the sales sheet is for general guidance only. All figures are approximate and provisional. Condition/furnishings may be subject to change.
All information are the findings of our due diligence. Please make sure you complete your own due diligence to satisfy your needs
• We cannot guarantee rental incomes, future valuations or post-sales values. Property values can fall as well as rise, rental incomes can decrease and void periods can occur.
Third Party Suppliers
We can refer to you a number of great experts: RICS Surveyor, Solicitors, Builders, Client Representative, Letting Agent/Estate Agent.
We are happy to introduce you to any of the mentioned experts to help you obtain any advice that we do not provide but for the avoidance of doubt, we do not make any representations as to their suitability and you are free at any time to use your own Third Party Suppliers.
The engagement with the builder teams triggers the engagement with the associated Client Representative. Builder team cannot be provide without associated Client Representative and vice-versa. The client can agree to use their own builder team and Client Rep.
Third Part Suppliers
NB: The Client Rep and the builder team are a separate legal entity to ourselves , therefore the Client Rep and any refurbishment are subject to a separate agreement provided by the Client Rep Vigeo Property Hub Ltd is not liable for the Client Rep and refurbishment, which will be agreed between the client and the Client Rep.
- COUNCIL TAXA payment made to your local authority in order to pay for local services like schools, libraries, and refuse collection. The amount you pay depends on the value of the property.Read more about council Tax in our glossary page.
- Band: A
- PARKINGDetails of how and where vehicles can be parked, and any associated costs.Read more about parking in our glossary page.
- Ask agent
- GARDENA property has access to an outdoor space, which could be private or shared.
- Yes
- ACCESSIBILITYHow a property has been adapted to meet the needs of vulnerable or disabled individuals.Read more about accessibility in our glossary page.
- Ask agent
Southway, Peterlee, SR8
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Visit our security centre to find out moreDisclaimer - Property reference RX687022. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Keller Williams Plus, Covering Nationwide. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.
Auction Fees: The purchase of this property may include associated fees not listed here, as it is to be sold via auction. To find out more about the fees associated with this property please call Keller Williams Plus, Covering Nationwide on 020 3892 9627.
*Guide Price: An indication of a seller's minimum expectation at auction and given as a “Guide Price” or a range of “Guide Prices”. This is not necessarily the figure a property will sell for and is subject to change prior to the auction.
Reserve Price: Each auction property will be subject to a “Reserve Price” below which the property cannot be sold at auction. Normally the “Reserve Price” will be set within the range of “Guide Prices” or no more than 10% above a single “Guide Price.”
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