Grenaby Way, Murton, Seaham, SR7 9GW

Property Overview

Two-bedroom top-floor leasehold apartment at Grenaby Way, Murton, Seaham, SR7 9GW. The property has bright and airy interiors, two generous bedrooms, a modern bathroom, reception room, loft space, secure entry system and an allocated parking space.

Property type: 2 Bedroom Flat. EPC: C. Council Tax: Band A.

Accommodation

• Lounge: 4.70m x 4.46m
• Kitchen: 2.83m x 2.70m
• Bedroom 1: 3.55m x 2.74m, with fitted wardrobes
• Bedroom 2: 2.91m x 2.45m, with fitted wardrobes
• Bathroom: 2.94m x 1.67m
• Loft space, secure entry system and allocated parking space

Location

The property is situated in the community of Murton, Durham.

Tenure & Key Information

• Tenure: Leasehold
• Lease term: 150 years less one day from 1 January 2005
• Ground rent: £155 per annum
• Service charge: £1,559 per annum
• Seller advises mains gas, electricity, water and sewerage
• Seller advises low risk of surface water flooding
• Occupancy or vacant-possession status: not stated

Auction & Buyer Charges

• Guide price: £55,000+
• Auction date: 30 September 2026
• Auction time: not supplied
• Buyer premium: not supplied
• Auction administration fee: £2,400 including VAT (£2,000 + VAT)
• Option 2 requires a £3,000 deposit, which comes off the purchase price
• The auctioneer may receive a solicitor referral fee of between £240 and £480 including VAT if a buyer chooses a solicitor from its panel

Investment Analysis

HB estimate: the indicative market value/GDV is £82,000, subject to condition, lease terms and property-specific differences. This is an estimate and not a formal valuation.

• HB estimated rent: £375 pcm
• HB estimated gross yield: 5.49%
• HB maximum bid: not calculated

The £55,000+ guide price is below the HB indicative value. A defensible maximum bid cannot be calculated without refurbishment, lease-cost, finance and required-return information. The £375 pcm figure is an HB estimate based on advertised rental evidence and is not an achieved or passing rent.

Sold Comparables

HM Land Registry sold data supplied for local leasehold flats and maisonettes:

Address	Sold price	Sold date	Type	Tenure
11 Grenaby Way, Murton, Seaham, County Durham, SR7 9GW	£80,000	14 November 2025	Flat/Maisonette	Leasehold
39 Grenaby Way, Murton, Seaham, County Durham, SR7 9GW	£82,000	15 August 2025	Flat/Maisonette	Leasehold
30 Grenaby Way, Murton, Seaham, County Durham, SR7 9GW	£84,000	9 May 2025	Flat/Maisonette	Leasehold
5 Grenaby Way, Murton, Seaham, County Durham, SR7 9GW	£76,950	29 September 2023	Flat/Maisonette	Leasehold
6 Grenaby Way, Murton, Seaham, County Durham, SR7 9GW	£83,000	26 May 2023	Flat/Maisonette	Leasehold

HB estimate: the five supplied sold comparables average approximately £81,190. The three most recent 2025 sales average £82,000.

Rental Evidence

Advertised rental evidence, not achieved or passing rent:

• Nearby SR7 9HY: two-bedroom flat/apartment advertised at £375 pcm on Zoopla.

Only one rental listing was supplied. It may not represent an achieved rent. No auctioneer estimated rent was supplied.

Strategy & Risks

The guide price is below the HB indicative value, but any bid should allow for the £2,400 auction administration fee and the property's ongoing lease costs. Further legal, lease and property due diligence is required before bidding.

• Property condition and refurbishment requirements are unknown.
• Lease length, ground rent, service charge and other lease liabilities require verification.
• Occupancy or vacant-possession status is not stated.
• Rental evidence is limited to one advertised asking rent in a nearby postcode.
• The £2,400 including VAT auction administration fee reduces net investment returns.
• The HB estimated value is based on a small set of local sold comparables and may not reflect this flat's specific characteristics.