Lot 6 - 24 Gray Road, Sunderland, Tyne and Wear, SR2 8HB

  • Unconditional Online Auction Sale
  • Guide Price* : £90,000 plus

ON BEHALF OF THE RECEIVERS - House converted into 4 flats in need of some refurbishment with potential for a gross annual equivalent income of £19,600

Description

The property comprises a substantial three storey mid terraced house, which has been extended to the rear by way of a single storey extension. It has has been converted to provide four flats with the ground floor providing 2 x one bedroom flats, a two bedroom flat to the first floor and further flat to the second floor. Subject to any necessary repairs being carried out (and one of the vacant flats is part way through a refurbishment) and the property being let at the same rents the as previously it has the potential to produce a gross annual equivalent income of £19,200.

Location

Approximately 0.5 miles from the city centre in an established area for rental accommodation. The property is positioned on Gray Road, which provides access to Ryhope Road and the A1231 inner ring road. The main A19 is located 4 miles to the south west and junction 63 of the A1(M) lies 8.5 miles to the west. Sunderland Railway Station is located less than a mile from the property and provides links to Newcastle and the wider rail network.

Accommodation

Flat A: Ground Floor - lounge/kitchen, double bedroom and bathroom.
Flat B: Ground Floor(Rear) - lounge/kitchen, double bedroom and bathroom - partway through refurbishment
Flat C : First Floor - lounge/kitchen, two double bedrooms and a bathroom.
Flat D : Attic Floor - Not Inspected - assumed two bedroom

We detail the following approximate areas:

Flat A: 45.61 sq.m (491 sq.ft)
Flat B: 45.58 sq.m (491 sq ft)
Flat C: 45.23 sq.m (487 sq.ft)
Flat D: Not inspected

Outside

Garden to the front and yard at the rear.

Buyers Administration Fee

There will be a Buyer's Administration Fee of £1,800 (inc VAT) payable upon exchange of contracts.

* Generally speaking Guide Prices are provided as an indication of each seller's minimum expectation, i.e. 'The Reserve'. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Virtually every property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.

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