Old Durham Road, Gateshead

Starting bid - £130,000..Auction end date:- TBC

TURN-KEY HMO INVESTMENT – 345 OLD DURHAM ROAD
ALL ROOMS FULLY FURNISHED – RENTAL INCOME OF £1,785 PER MONTH

Currently Fully Let to 4 Tenants

An ideal investment opportunity, this fully tenanted HMO is located at 345 Old Durham Road and is ready for a hands-off investor. Spread across two floors, the property is sold as seen with all furniture and white goods included.

The property benefits from full compliance:

EICR (Electrical Installation Condition Report)
Gas Safety Certificate
Portable Appliance Testing (PAT)
Smoke Alarms


The layout includes a communal entrance and hallway leading to the first floor. All four bedrooms are fully furnished, each with a wardrobe and chest of drawers. Three rooms contain double beds, while the fourth features a ¾ size double.

The shared kitchen and living space offer excellent functionality, with:

Ample cupboard storage
Two large fridge freezers
Washing machine
Dishwasher
Electric hob and oven
Dining table and chairs
2 Rooms with en-suite

Externally, there is a shared rear yard.
EPC Rating: C

Fees And Charges - This property is sold subject to payment of a non-refundable reservation fee of 4.5% to a minimum of £6,600.00 including VAT.

Any successful purchaser will pay this to secure the sale. The reservation fee is in addition to the purchase price. Please take this into account when bidding.

A reservation fee is payable by the buyer only when the seller pays no fees to sell. As sellers pay no fees to sell, this is usually taken into account with a lower reserve price.

This property is being sold under the Modern Method of Auction, which requires the Completion of the purchase within 56 days, although all reasonable endeavours must be made to Exchange Contracts within immediately following the Draft Contracts being received by the Buyer's Solicitor

A non-refundable Reservation fee must be paid by the buyer within 2 hours following the conclusion of the auction or acceptance of an offer. This must be paid by cleared funds to the auctioneer who will issue an acknowledgement of reservation and purchase agreement in the 56 day period following the auction or the date of acceptance of the offer.

Buyer Information Pack - If the Buyer Information Pack has been produced and provided by iamsold any successful purchaser will be required to pay £349.00 (including VAT) towards the cost of the preparation of the pack. These can then be used by your solicitor to progress the sale.

Auctioneer Comments - This property is for sale by the Modern Method of Auction. Should you view, offer or bid on the property, your information will be shared with the Auctioneer, iamsold Limited. This method of auction requires both parties to complete the transaction within 56 days of the draft contract for sale being received by the buyers solicitor (for standard Grade 1 properties). This additional time allows buyers to proceed with mortgage finance (subject to lending criteria, affordability and survey).The buyer is required to sign a reservation agreement and make payment of a non-refundable Reservation Fee. This being 4.5% of the purchase price including VAT, subject to a minimum of £6,600.00 including VAT. The Reservation Fee is paid in addition to purchase price and will be considered as part of the chargeable consideration for the property in the calculation for stamp duty liability. Buyers will be required to go through an identification verification process with iamsold and provide proof of how the purchase would be funded. This property has a Buyer Information Pack which is a collection of documents in relation to the property. The documents may not tell you everything you need to know about the property, so you are required to complete your own due diligence before bidding. A sample copy of the Reservation Agreement and terms and conditions are also contained within this pack. The buyer will also make payment of £349 including VAT towards the preparation cost of the pack, where it has been provided by iamsold. The property is subject to an undisclosed Reserve Price with both the Reserve Price and Starting Bid being subject to change.

A Buyer Information Pack is provided. The winning bidder will pay £349.00 including VAT for this pack which you must view before bidding.

Referral Arrangements - The Partner Agent and Auctioneer may recommend the services of third parties to you. Whilst these services are recommended as it is believed they will be of benefit; you are under no obligation to use any of these services and you should always consider your options before services are accepted. Where services are accepted the Auctioneer or Partner Agent may receive payment for the recommendation and you will be informed of any referral arrangement and payment prior to any services being taken by you

Need More Information - For further information or to speak to one of our Auction team, please call .