No. 33 Hambledon Place, Peterlee, County Durham, SR8 2LL

Description

Auction House North East are delighted to offer for sale by auction this three bedroom terraced property, situated within a popular residential area of Peterlee. The property offers well proportioned accommodation and represents an excellent opportunity for investors, landlords and owner-occupiers alike. The property would benefit from refurbishment and modernisation, providing scope for the successful purchaser to improve and update the accommodation to their own requirements. Once improved, the property should appeal strongly to the local rental and residential market. An attractive opportunity to acquire a three bedroom terraced property with refurbishment potential in an established residential location.

Accommodation

The accommodation briefly comprises an entrance hall, reception room, kitchen and additional ground floor space, with three bedrooms and bathroom facilities arranged over the upper floors.

Location

Hambledon Place is conveniently positioned within Peterlee, providing access to a range of local amenities, schools, shops and transport links, with the wider North East easily accessible via the surrounding road network.

Tenure / Property Information

Investment Analysis

Historic HM Land Registry evidence for this property ranges from £55,000 to £67,000, with nearby Hambledon Place sales at £65,000 and £75,000. A cautious evidence-based current GDV range is £65,000–£75,000, with a £70,000 base estimate. The evidence is historic and does not establish the property's current condition or a formal valuation.

Investment Snapshot

Strategy Recommendation

Proceed only after inspecting the property and obtaining a detailed refurbishment budget. The opportunity may suit an owner-occupier or value-focused refurbishment buyer at an appropriate price, but the evidence is insufficient to underwrite BTL, BRRR or a flip confidently.

Works Required

Refurbishment and modernisation as indicated by the auction description. No detailed schedule of condition or specification is supplied, so particular works and costs cannot be reliably quantified.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £50,000 guide, the known purchase price plus the £3,600 administration charge would be £53,600 before refurbishment and other possible charges. A 75% refinance against the £70,000 base GDV indicates £52,500, but required works and total project cost are unknown, so cash recycling and BRRR viability cannot be confirmed.

Buy-to-Let Analysis

No sufficiently specific rental evidence or auctioneer rent estimate is supplied, so rent, gross yield and BTL cash flow cannot be established. The three-bedroom format may suit the local rental market, but this is not a supported rental valuation.

Flip Analysis

Historic evidence supports an indicative £65,000–£75,000 resale range, but refurbishment cost, acquisition costs beyond the stated administration charge and selling costs are not quantified. A reliable flip surplus or maximum bid cannot therefore be calculated.

Investor Risks & Due Diligence

• Historic comparable sales may not reflect current market value.

• The property requires refurbishment and modernisation, but no detailed condition report or costed works schedule is supplied.

• No reliable rental evidence or passing rent is available.

• The £3,600 administration charge is known, but other possible auction, legal, search, transfer and seller-cost charges are unspecified.

• The guide price is not a guaranteed purchase price and the property may sell above guide.

Recommendation

Proceed only after inspecting the property and obtaining a detailed refurbishment budget. The opportunity may suit an owner-occupier or value-focused refurbishment buyer at an appropriate price, but the evidence is insufficient to underwrite BTL, BRRR or a flip confidently.

Strategy Rating

Analysis Confidence

Several relevant completed sales are supplied, including the subject property, but they are historic. Current condition, refurbishment costs, achievable rent, full purchase costs and selling costs are not provided.