0 Eglesfield Road, South Shields, Tyne and Wear, NE33 5PS

The property is let on the current government backed Long term contract for social housing use with a major Blue chip PLC, There are no other costs for the owner as other than insurance & annual Gas certification. There is no Council Tax, Utility Bills are all covered within the contract. No voids…no maintenance unless structural…no management. This saves the investor time and money. The leases are 5 to 10 years. Due to these long leases banks do not want to lend. Thus we sell for cash. The property is currently achieving between 7% and 8 % yield Unconditional Sale- The Purchaser shall pay a 5% deposit (subject to a minimum of £5,000) upon the fall of the hammer. In addition a 3% Buyers Premium + VAT (Minimum Fee £5000 + Vat) and contracts are exchanged. The purchaser is legally bound to buy and the vendor is legally bound to sell the Property/Lot. The auction conditions require a full legal completion 28 days following the auction (unless otherwise stated). The Agent has not tested the utilities, appliances, or inspected the roof space. The floor plans and dimensions are for guidance only.