69 Queen Street, Birtley, Chester le Street, County Durham

Description

A spacious three-bedroom property offering excellent potential for refurbishment and investment, with generous accommodation, a private rear yard and convenient access to Birtley town centre and the A1(M). The property offers approximately 70 sq m of accommodation and represents an attractive proposition for investors, landlords or buyers looking for a refurbishment project. Refurbishment and remedial works are required, with visible signs of damp/mould particularly within the main bedroom.

Accommodation

The accommodation is arranged predominantly over the first floor and comprises a generous living room, fitted kitchen, three bedrooms and bathroom. Externally, there is a private enclosed rear yard.

Location

Queen Street is conveniently positioned for access to Birtley town centre, with a range of shops, amenities and transport links nearby. The location also provides good access to the A1(M), making it well placed for commuting towards Newcastle, Gateshead, Durham and surrounding areas.

Tenure / Property Information

Investment Analysis

Five sold comparables on Queen Street range from £32,500 to £54,000, with the three most recent sales at £40,000, £50,000 and £52,500. A provisional base GDV of £50,000 is used, with a low scenario of £40,000 and high scenario of £54,000. Comparability is limited because the supplied comparables are recorded as flat/maisonette or other, while this property is described as residential, and their condition and accommodation details are not provided.

Investment Snapshot

Strategy Recommendation

Proceed only subject to legal-pack review, leasehold investigation and a specialist inspection and quotation for the damp/mould and refurbishment works. Do not set a numeric maximum bid without those costs and any special-condition charges.

Works Required

Refurbishment and remedial works are required. The supplied description specifically identifies visible damp/mould, particularly within the main bedroom. Further works should be scoped and priced after inspection; no unsupported defects or specifications are assumed.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A provisional £50,000 GDV implies 75% refinance proceeds of £37,500. Purchase price, refurbishment cost and additional legal-pack charges remain uncertain, so cash required, equity creation and BRRR viability cannot be calculated reliably.

Buy-to-Let Analysis

BTL viability cannot be quantified because no sufficiently specific rental comparable or auctioneer rent estimate is supplied. The required refurbishment, damp/mould and leasehold status also need investigation before assessing landlord returns.

Flip Analysis

The supplied evidence supports only a provisional resale value range of £40,000–£54,000, centred on £50,000. Refurbishment costs, selling costs and other purchase charges are not quantified, so a reliable flip surplus cannot be established.

Investor Risks & Due Diligence

• Visible damp/mould, particularly within the main bedroom, with the cause and remedial cost unknown.

• Refurbishment and remedial works are required, but no scope or cost estimate is supplied.

• Leasehold terms, including remaining term and service or other charges, are not provided.

• Special Conditions of Sale may create additional Search Fees, seller-cost reimbursements, legal fees, transfer fees or disbursements.

• No sufficiently specific rental evidence is supplied, preventing reliable BTL yield analysis.

• The sold comparables are recorded as flat/maisonette or other, limiting confidence in the GDV comparison.

Recommendation

Proceed only subject to legal-pack review, leasehold investigation and a specialist inspection and quotation for the damp/mould and refurbishment works. Do not set a numeric maximum bid without those costs and any special-condition charges.

Strategy Rating

Analysis Confidence

Recent local sold evidence is available, but comparable property type and condition are not fully aligned, while rent, refurbishment costs, lease details and potentially payable legal-pack charges are unquantified.