100 Kenilworth Court, Washington, Tyne And Wear, NE37 3EQ

Description

Offered for sale by auction is this tenanted two-bedroom flat, located in Sulgrave. The property comprises an Entrance Hall, a Living Room with balcony, a Kitchen, a double bedroom with balcony, a 2nd Bedroom and a Bathroom. Currently let at £375pcm, and sold with tenant in situ. No viewings will be conducted. Situated in a well-established residential area, the property is conveniently placed for local amenities, transport links, plus hospitals and universities, making it an attractive prospect for both resale and rental markets. Key Features: Approx. 65 sq. meters of accommodation One-bedroom apartment Popular and well-connected location Investment Summary Rental income could be increased in line with current market value at approximately £550pcm Asset management opportunity with value-add potential Attractive guide price reflecting condition Tenure: Leasehold Legal Pack: Available via the Auction House website Tenure: See Legal Pack

Accommodation

The supplied particulars indicate approximately 2 bedroom accommodation. Room layout, floor areas and dimensions should be confirmed from the auctioneer particulars, floor plan and inspection.

Location

Located in Washington, Tyne And Wear. Investor due diligence should test local transport, employment, amenities and tenant demand at the exact micro-location. Cross-check the postcode and legal title before bidding.

Investment Analysis

The figures below separate auctioneer/source facts from HB indicative estimates. HB figures are screening assumptions only and are not a RICS valuation, contractor quotation or lending decision.

Investment Snapshot

Strategy Recommendation

The initial strategy should be tested against condition, legal structure, works, rental evidence and comparable values before setting a maximum bid. The screening case depends on achieving a sufficient margin or sustainable income after all acquisition and holding costs.

Works Required

• Review complete building/property condition

• Electrical and heating inspection

• Allow for decoration and repairs where required

Rental & Market Context

HB screening rent is approximately £50–£50 pcm (£600–£600 pa). Replace this with current local letting evidence. The source also indicates published income of about £6,600 pa, which should be verified against tenancy documents.

Sold within approximately 5 miles

Reliable sold-property comparables were not collected from the supplied scrape. Check recent Land Registry evidence and closely comparable sold listings within approximately five miles, prioritising the same property type, size, tenure and condition.

Potential BRRR Position

Illustrative 75% refinance on the HB indicative value range is about £3,750–£4,500 against purchase + works of approximately £10,000–£17,000. Actual refinance depends on valuation, works, finance costs, rental stress testing and lender criteria.

Flip Analysis

The initial gross value spread is approximately £-12,000–£-4,000 before acquisition/disposal costs. This is not profit and excludes SDLT, auction/admin fees, legal costs, finance, holding costs, insurance, utilities, professional fees, selling fees, contingency and tax.

Investor Risks & Due Diligence

• Review legal pack, title and special conditions

• Confirm auction fees and completion period

• Obtain survey and works quotations

• Verify finance before bidding

• Check rental and sold comparable evidence

• Verify tenancy agreement, deposits, rent schedule and compliance

Recommendation

Initial recommendation: Buy-to-Let / Income Investment. Proceed only if the legal pack, condition, costs and local evidence support the required margin/yield. Treat the guide as a starting point rather than a valuation and set a disciplined maximum bid after due diligence.

Strategy Rating

• Buy-to-Let: ★★★★☆

• BRRR: ★★★☆☆

• Flip: ★★★☆☆