78 Ravensworth Terrace, South Shields, Tyne and Wear, NE33 4JX

Description

• Prime Property Auctions is excited to bring to market this stunning 2 bedroom flat located within a prime location in South Shields Guide price £72,000

• 6, Alverthorpe Street, South Shields, Tyne and Wear, NE33 4BJ sold for £129,000 in March 2023, 110, Birchington Avenue, South Shields, Tyne and Wear NE33 4SA sold for £110,000 in October 2022

• Fantastic Capital growth potential. Sure to appeal to shrewd investors looking for a turnkey investment opportunity in a popular buy to let location. 

• For rental purposes, the property could achieve £795 p/m. This would provide an annual income of £9,540, or a gross yield of 13.25% if achieved for a guide price of £72,000. 

• Property could achieve upto £70 per night as a serviced accommodation, generating an annual income of £17,885 per annum or a gross yield of 24.84% based on a 70% occupancy rate and a guide price of £72,000. Subject to necessary licensing and consents. MASSIVE POTENTIAL YIELD

Prime Property Auctions is excited to bring to market this stunning 2 bedroom flat located within a prime location in South Shields Guide price £72,000

Property comprises:Entrance hallway, living room, kitchen, dining area, 2 large bedrooms, and a vibrant bathroom. 

Fantastic turnkey investment. Property is situated in an up and coming area, close to schools and local amenities. 

Prime Opportunity for Property investors looking for a property in an excellent location. Property IS in fantastic condition and is readily let. Fantastic Capital growth potential. Sure to appeal to investors looking for Rare auction property. 

Property could achieve upto £70 per night as a serviced accommodation, generating an annual income of £17,885 per annum or a gross yield of 24.84% based on a 70% occupancy rate and a guide price of £72,000. Subject to necessary licensing and consents. MASSIVE POTENTIAL YIELD

Local sales evidence:

6, Alverthorpe Street, South Shields, Tyne and Wear, NE33 4BJ sold for £129,000 in March 2023, 110, Birchington Avenue, South Shields, Tyne and Wear NE33 4SA sold for £110,000 in October 2022

For rental purposes, the property could achieve £795 p/m. This would provide an annual income of £9,540, or a gross yield of 13.25% if achieved for a guide price of £72,000. 

Property is located near a whole host of local amenities including schools, coffee shops, bars and restaurants, with public transport nearby for easy access into the city centre - PRIME LOCATION 

Property could achieve upto £70 per night as a serviced accommodation, generating an annual income of £17,885 per annum or a gross yield of 24.84% based on a 70% occupancy rate and a guide price of £72,000. Subject to necessary licensing and consents. MASSIVE POTENTIAL YIELD

This lot is open to immediate offers. Should you wish to offer NOW, you can do so via our “Make an Offer” button on our website.

This property is offered at a fantastic price to ensure an Auction sale.

The property will feature in our upcoming timed online auction. To participate in the live auction, you must have a bidding account created. For further details on how to have a bidding account created please contact the team.

Location

South Shields is a vibrant coastal town located at the mouth of the River Tyne, just 12 miles east of Newcastle upon Tyne in the North East of England. Known for its stunning coastline, rich history, and welcoming community, South Shields offers a unique mix of seaside charm and urban convenience, making it an attractive place to live for families, professionals, and retirees alike.

Transport links in South Shields are excellent, making it easy to commute to nearby Newcastle upon Tyne and other parts of the North East. The town is served by the Tyne and Wear Metro system, offering quick and convenient access to Newcastle city center, as well as direct links to Sunderland and Gateshead. Regular bus services and good road connections, including the A19 and A194, further enhance the town's accessibility.

The town is home to award-winning sandy beaches, including Sandhaven Beach, which is perfect for sunbathing, swimming, and enjoying a variety of water sports. The dramatic cliffs and scenic walking trails along The Leas, a National Trust-protected coastal area, offer breathtaking views of the North Sea and are a haven for nature lovers and walkers. Marine Park, with its boating lake, miniature railway, and picturesque gardens, is another popular spot for outdoor relaxation and family fun.

Map

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Terms of Sale

All buyers must verify terms prior to placing a bid. Some sellers may have variations within their contracts. Should you place a bid you are confirming you are happy to proceed as per the Terms of the contract.