2 Stephenson House, Stephenson Street, North Shields, NE30 1QA

Description

A one bedroom ground floor flat. Presented in clean decorative order. Vacant.

Accommodation

Ground Floor - Entrance Hallway, Open Plan Reception Room/Kitchen, Bedroom, Bathroom/WC.

Location

North Shields is a town in Tyne and Wear. Local amenities are available within North Shields along with schools, healthcare facilities and community amenities. Recreational amenities include nearby parks, riverside walks along River Tyne and coastal areas toward Tynemouth, with leisure facilities in the area such as Tynemouth Golf Club. Transport links include North Shields Metro Station, bus services and road access via the A1058 Coast Road and A19. Transport North Shields - Yellow Line. Tynemouth - Yellow Line.

Tenure / Property Information

Investment Analysis

The two most recent completed sales at Stephenson House were £46,000 and £46,400 in March and April 2026. A 2025 sale at £70,000 and earlier sales at £56,750 and £62,500 show material variation, but the evidence does not identify the individual units, bedroom counts, condition or lease terms. A cautious base GDV of £46,200 uses the average of the two most recent sales, with £46,000 as a low supported scenario and £70,000 as a high historical scenario. The £25,000 guide represents a substantial discount to the recent same-building evidence, subject to fees, legal review and inspection.

Investment Snapshot

Strategy Recommendation

Investigate as a potential discounted purchase or BRRR candidate only after confirming the auction conditions, buyer and seller charges, leasehold costs, unit-specific comparables and achievable rent. Do not bid solely on the apparent guide-to-GDV spread.

Works Required

The flat is described as being in clean decorative order, so no specific refurbishment works are evidenced. Allow for inspection, cleaning and any minor remedial or compliance items identified after viewing, but no cost allowance is assumed.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the base GDV of £46,200, 75% refinance is approximately £34,650. Against the £25,000 guide-only purchase cost, this indicates approximately £9,650 of cash released before finance, tax, fees and any works. The result is highly sensitive to the unit-specific value, leasehold charges, lender valuation and auction costs.

Buy-to-Let Analysis

BTL yield cannot be established because no sufficiently specific rental comparable or auctioneer rent estimate is supplied. The calculation also excludes unknown buyer premium, VAT, seller charges, service charge, ground rent, finance costs, tax and maintenance.

Flip Analysis

On the base scenario, £46,200 GDV less the £25,000 guide-only purchase cost implies £21,200 before selling costs, buyer costs, finance, tax and works. A reliable net flip surplus cannot be calculated because no selling allowance or complete project-cost information is supplied.

Investor Risks & Due Diligence

• Buyer premium and any applicable VAT are not quantified.

• Seller charges and any VAT election are unknown until the Special Conditions of Sale are reviewed.

• No sufficiently specific rental evidence is available, so BTL income and yield cannot be tested.

• Same-building comparable sales vary materially and the sold units' size, bedrooms, condition and lease terms are not supplied.

• Service charge, ground rent, reserve fund and other leasehold costs are not supplied.

• The flat is described as clean and vacant, but no independent inspection or detailed condition evidence is provided.

• No council tax, parking or heating information is supplied.

Recommendation

Investigate as a potential discounted purchase or BRRR candidate only after confirming the auction conditions, buyer and seller charges, leasehold costs, unit-specific comparables and achievable rent. Do not bid solely on the apparent guide-to-GDV spread.

Strategy Rating

Analysis Confidence

Recent completed sales at the same building provide useful value evidence, but the comparable units are not identified and there is no rental evidence, fee schedule, leasehold-cost information or detailed inspection evidence.