Dreswick Court, Murton, Seaham, SR7 9NE

Property Overview

Two-bedroom second-floor leasehold apartment at Dreswick Court, Murton, Seaham, SR7 9NE, with views over Dalton Park park land. The property is described as having gas central heating, double glazing and modern apartment refinements. EPC rating B and Council Tax Band A.

Accommodation

• Entrance hallway
• Lounge/dining room/kitchen with bay window feature
• Two good-sized bedrooms
• Bathroom

Location

Situated close to Dalton Park Shopping Outlet and a short distance from the A19, providing access to regional centres. Seaham is a short drive away, with beaches, marina, bars and restaurants.

Tenure & Key Information

• Tenure: Leasehold
• Lease: 125 years from 1 January 2011
• Ground rent: £200 per annum
• Service charge: £1,227 per annum, including buildings insurance, weekly cleaning of communal areas, annual decorating and gardening of communal areas
• Heating: Gas central heating
• Services: Seller advises mains gas, electricity, water and sewerage are provided

Auction & Buyer Charges

• Guide price: £59,950+
• Auction date: 30 September 2026
• Auction administration fee: £2,000 plus VAT, totalling £2,400
• If using a referred North East solicitor from the auctioneer’s panel, the auctioneer receives a referral fee of between £200 plus VAT (£240) and £400 plus VAT (£480)

Buyer premium and auction time were not supplied. Other purchase costs were not supplied.

Investment Analysis

HB estimate, not a formal valuation: The five completed sales at Dreswick Court range from £69,000 to £84,000, averaging £75,400. The £59,950+ guide is approximately 20.5% below this average. Flat-specific condition, lease length, service charges, ground rent and occupancy require confirmation.

The known auction administration fee of £2,400 means the guide price plus this fee is £62,350 before other costs. HB estimates gross rent of £650 pcm, or £7,800 annually before costs, with an estimated gross yield range of 9.3% to 11.3%. The £650 pcm figure is an advertised-rent indication only, not an achieved or passing rent.

No reliable HB maximum bid estimate has been provided. Proceed only subject to confirming the lease term, service charge, ground rent, condition and legal title.

Sold Comparables

Supplied HM Land Registry sold data:

Rental Evidence

Advertised rental evidence: a two-bedroom flat with views over Dalton Park was advertised at £650 pcm. This is an advertised asking rent, not an achieved or passing rent. No auctioneer estimated rent was supplied.

Strategy & Risks

• Confirm the lease term, ground rent, service charge and legal title before bidding.
• Property condition and any refurbishment requirements are unknown.
• Occupancy or vacant possession status was not supplied.
• The £650 pcm rental figure is advertised evidence only.
• Comparable sales range from £69,000 to £84,000, indicating valuation uncertainty.
• The £2,400 auction administration fee applies, with other purchase costs not supplied.