186 Maple Street, Ashington, Northumberland, NE63 0BU

Description

Auction Commencing on Monday 7th September from 1pm and ending 22 hours later on Tuesday 8th September from 11am with Auction House North East Please register to bid via our website - auctionhouse.co.uk/northeast READY MADE 2 BED TERRACE IN ASHINGTON Situated in a popular residential area of Ashington, this beautifully presented property presents an excellent opportunity for investors and owner-occupiers alike. The accommodation comprises a bright and comfortable lounge, a fitted kitchen with dining space, and well-proportioned bedrooms served by a large family bathroom. Externally, the property benefits from a private rear yard while on-street parking is available to the front. Conveniently located close to local shops, schools, supermarkets and transport links, the property also offers easy access to Ashington town centre and the wider road network. A modern and slick design throughout makes this a ready made BTL. Historically this asset has produced £695pcm in rent which is approximately a 14% gross yield on the guide price appealing any investors seeking a strong income producing asset in a popular residential location. Alternatively it is also a perfect opportunity for any homebuyer looking for a good location and a nice property to add their personal touch. Tenure: See Legal Pack EPC Rating: 65 - D

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 Ashington, Northumberland. 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 £350–£450 pcm (£4,200–£5,400 pa). Replace this with current local letting evidence. The source also indicates published income of about £8,340 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 £48,000–£55,500 against purchase + works of approximately £64,000–£71,000. Actual refinance depends on valuation, works, finance costs, rental stress testing and lender criteria.

Flip Analysis

The initial gross value spread is approximately £-7,000–£10,000 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

Recommendation

Initial recommendation: Buy-to-Let. 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: ★★★☆☆