73, Thorntree Gill, PETERLEE, County Durham, SR8 4SR

Description

Vacant, two-bedroom, ground floor flat. Ideal investment purchase or starter home. The property has gas fired central heating, partial double-glazed windows, requires modernisation throughout and would make a lovely home once upgraded. The auctioneer states that the property offers appeal to buy-to-let investors and developers. Interested parties are advised to arrange a viewing to confirm the details provided prior to bidding.

Accommodation

Ground Floor: Communal Entrance and Stairs. Flat: Entrance Hall, Living Room, Kitchen, Two Bedrooms and Bathroom. External: Communal Grounds.

Location

Set just off the Coast Road in a predominantly residential area of Peterlee, approximately a mile from the shopping centre and retail park, with local schools and bus routes from the main road leading into the estate. Peterlee sits along the A19 corridor between Sunderland and Hartlepool, with commuting routes to Durham and Newcastle city centres.

Tenure / Property Information

Investment Analysis

No completed-sale comparables or other valuation evidence were supplied, so GDV and market value cannot be reliably estimated. The £28,000 guide is not a valuation. The flat is vacant, leasehold and requires modernisation throughout. A service charge estimate of £419.23 for 1 April 2026 to 31 March 2027 is stated, including £10 ground rent, but the listing advises confirming charges and any seller fees in the legal pack.

Investment Snapshot

Strategy Recommendation

Treat as a due-diligence-led purchase only. Obtain the legal pack, confirm all leasehold charges and seller fees, inspect the flat, and secure independent rental and resale evidence before bidding.

Works Required

Modernisation throughout, subject to viewing and survey. The evidence supports reviewing and upgrading the existing kitchen, bathroom, finishes and décor, while confirming the condition of the gas central heating, partial double glazing and other components. No specific defects or works costs are evidenced.

Rental & Market Context

Potential BRRR Position

A BRRR assessment cannot be completed reliably because GDV, refurbishment cost and achievable rent are unsupported. The stated lease term has 104 years remaining as of the auction date, but leasehold charges, legal terms and any lender requirements should be confirmed before bidding.

Buy-to-Let Analysis

BTL suitability is suggested by the auctioneer, but no sufficiently specific rental comparable or auctioneer rent estimate was supplied. Rent, yield, operating costs and a supported maximum bid cannot therefore be established. Vacancy and modernisation mean the property would require works before letting.

Flip Analysis

A flip appraisal cannot be supported because there are no completed-sale comparables, GDV evidence, refurbishment budget or supported selling allowance. The £28,000 guide plus the £1,800 buyer contract documentation fee gives a known minimum before works and other costs, but does not establish resale profit.

Investor Risks & Due Diligence

• Modernisation is required throughout, but no scope or cost allowance is supplied.

• No sufficiently specific rental evidence or passing rent is available.

• No completed-sale comparables or supported GDV are provided.

• The £1,800 contract documentation fee is known, while additional seller fees may apply under the special conditions.

• Leasehold service charge and ground-rent details should be confirmed with the auction centre and legal pack.

• The property is vacant and would require works before occupation or letting.

Recommendation

Treat as a due-diligence-led purchase only. Obtain the legal pack, confirm all leasehold charges and seller fees, inspect the flat, and secure independent rental and resale evidence before bidding.

Strategy Rating

Analysis Confidence

The listing supplies basic property, tenure, occupancy, lease and guide-price information, but provides no completed-sale comparables, rental evidence, refurbishment costs, GDV or full fee schedule.