26 Southern Close, Ashington, Northumberland, NE63 9TH

Description

A three bedroom terraced house situated within an established residential area of Ashington, offering an opportunity for investors, landlords and owner occupiers alike. The accommodation offers potential for a range of buyers, with three bedrooms providing flexibility for families or those seeking rental investment. The property may also appeal to buyers looking to personalise or improve a home to suit their own requirements, subject to its current condition. Conveniently located for access to local shops, schools, everyday amenities and public transport links, the property is also within reach of Ashington town centre and the wider Northumberland area. Offered for sale by auction, this property represents an opportunity for buyers looking to acquire a three-bedroom home in an established residential location. Interested parties are encouraged to arrange a viewing and review the legal pack prior to bidding.

Accommodation

Three bedrooms; terraced house.

Location

Situated within an established residential area of Ashington, conveniently located for access to local shops, schools, everyday amenities and public transport links, and within reach of Ashington town centre and the wider Northumberland area.

Tenure / Property Information

Investment Analysis

The strongest evidence is the same property sale at £115,000 on 20 December 2024. Other same-close sales range from £46,500 to £74,950 but are older, while the subject sold for £70,000 in February 2021. A base GDV of £115,000 is therefore used, with £105,000–£125,000 as indicative scenarios rather than formal valuations. Condition, buyer premium and other auction costs remain unquantified.

Investment Snapshot

Strategy Recommendation

Proceed only after viewing the property and reviewing the legal pack. At or near the £90,000 guide, the evidence suggests potential for rental or resale, but the unquantified condition, buyer premium and other auction costs prevent a firm bid decision.

Works Required

No specific defects or works are evidenced. Arrange a viewing and review the legal pack before bidding; any redecoration, repairs or improvement works should be assessed only after inspection.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the £115,000 base GDV, a 75% refinance is £86,250. Against the £93,600 analysis cost, this leaves indicative cash of £7,350 before finance costs, tax, buyer premium, other auction charges and any refurbishment. The result is highly sensitive to condition and the eventual purchase price.

Buy-to-Let Analysis

The only rental evidence is an advertised asking rent of £600 pcm for a three-bedroom property in Ashington, equivalent to £7,200 annually. This indicates 8.00% gross yield on the £90,000 guide and 7.69% on the £93,600 analysis cost, which includes the £3,600 administration charge only. The rent is not an achieved passing rent, and buyer premium, other fees and any works are excluded.

Flip Analysis

A potential resale benchmark is £115,000 based mainly on the same property’s December 2024 sale. No refurbishment budget or supported selling-cost allowance is available, so a reliable flip surplus cannot be calculated. The £21,400 difference between base GDV and known analysis costs is not a profit estimate because omitted costs and works may be material.

Investor Risks & Due Diligence

• Property condition and any required works are not evidenced.

• Buyer premium amount is unspecified.

• Additional search, seller, legal, transfer and disbursement fees may apply.

• The £600 pcm figure is an advertised asking rent, not an achieved or passing rent.

• The GDV relies heavily on one recent sale of the same property and is not a formal valuation.

• Base cost excludes refurbishment, buyer premium and other unspecified auction costs.

Recommendation

Proceed only after viewing the property and reviewing the legal pack. At or near the £90,000 guide, the evidence suggests potential for rental or resale, but the unquantified condition, buyer premium and other auction costs prevent a firm bid decision.

Strategy Rating

Analysis Confidence

The analysis has a recent same-property sale, same-street comparables and one local advertised rent, but lacks condition details, refurbishment costs, buyer premium, other auction charges, legal-pack information and achieved rental evidence.