8. George Street, Shildon, County Durham, DL4 1JS

Description

A two-bedroom mid-terraced property requiring modernisation and offering an excellent refurbishment opportunity, ideal for investors, landlords, developers, owner-occupiers or buyers looking to add value. The property extends to approximately 54 sq. m. and benefits from an enclosed rear yard with storage/outbuildings and pedestrian access beyond.

Accommodation

Entrance foyer leading into living room with adjoining dining area, kitchen and access to the rear; first floor with two bedrooms and a generously proportioned bathroom fitted with a bath, WC and wash basin. Approximately 54 sq. m. over two floors.

Location

Situated in an established residential location within Shildon, conveniently positioned for access to local shops, amenities, schools and transport connections.

Tenure / Property Information

Investment Analysis

The five supplied same-street freehold terraced sales range from £39,500 to £46,500, averaging approximately £41,199. As the subject requires modernisation and the comparable properties' condition is not provided, a cautious base GDV of £40,000 is used. Evidence-supported GDV scenarios are £39,500 to £46,500.

Investment Snapshot

Strategy Recommendation

Potential refurbishment-led BTL or resale opportunity, but do not set a bid limit until the required works, legal-pack costs and additional auction charges are verified.

Works Required

Modernisation of the existing two-bedroom accommodation, including assessment and upgrading of the kitchen, bathroom, decoration, finishes and any other items identified during inspection. The evidence does not quantify the required works, so no refurbishment allowance is assumed.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £5,000 guide, the known £3,600 administration charge produces £8,600 before refurbishment and other charges. A 75% refinance of the £40,000 base GDV is £30,000, but total project cost and cash left in cannot be calculated because refurbishment and additional costs are unsupported. The strategy may have potential, subject to a works inspection and legal-pack review.

Buy-to-Let Analysis

The supplied rental evidence is one advertised asking rent of £575 pcm, equivalent to £6,900 annually; it is not an achieved or guaranteed rent. Against the £5,000 guide this indicates a notional gross yield of 138%, but this is not meaningful without refurbishment costs, finance, legal costs, other auction charges and operating expenses. BTL viability cannot be established reliably from the supplied evidence.

Flip Analysis

The base GDV is estimated at £40,000, with an evidence-supported range of £39,500 to £46,500. A flip surplus cannot be calculated because refurbishment costs, selling costs and several auction-related charges are not supplied. The low guide is attractive on headline figures but does not establish a profitable resale project.

Investor Risks & Due Diligence

• The property is stated to require modernisation, but the scope and cost of works are unknown.

• The £3,600 administration charge materially affects the low guide-price economics.

• Additional search, seller-cost reimbursement, legal, transfer, buyer-premium and disbursement charges may apply.

• The £575 pcm figure is an advertised asking rent rather than an achieved or guaranteed rent.

• The supplied comparable sales do not state their condition or refurbishment standard, limiting GDV certainty.

Recommendation

Potential refurbishment-led BTL or resale opportunity, but do not set a bid limit until the required works, legal-pack costs and additional auction charges are verified.

Strategy Rating

Analysis Confidence

Same-street sold comparables and one advertised rental are available, but property condition, refurbishment costs, selling costs, operating costs and several purchase charges are not quantified.