6 Thropton Place, North Shields, Tyne And Wear, NE29 8HR

Description

A well-presented property occupying the popular location of North Shields, offering an excellent investment opportunity with an established tenant in situ. The property has been well maintained and benefits from a strong rental history, making it an ideal addition to any buy-to-let portfolio. The accommodation briefly comprises an entrance hallway, spacious lounge, fitted kitchen, f bathroom and a well-proportioned bedroom. Externally, the property benefits from a private rear garden and off-street parking via a driveway. The property is currently let at £600 per calendar month (£7,200 per annum), representing an attractive gross yield of approximately 11%. The current tenants have been in occupation since March 2022 and have a proven record of annual rental increases, providing a reliable and established income stream. Situated close to local amenities, schools and transport links, this is a ready-made investment requiring minimal ongoing input from a new owner. Tenure: See Legal Pack

Accommodation

The supplied particulars indicate approximately 1 bedroom accommodation. Room layout, floor areas and dimensions should be confirmed from the auctioneer particulars, floor plan and inspection.

Location

Located in North Shields, 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 £350–£450 pcm (£4,200–£5,400 pa). Replace this with current local letting evidence. The source also indicates published income of about £7,200 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

• 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: ★★★☆☆