Move and improve: Bargain flat offers rental opportunity

Jul 31 2010

by Karen Wilson, The Journal

A RUN-DOWN flat above two shops is being sold at auction with a starting bid of just £15,000. The property on Zetland Road in Loftus, Cleveland, is over three levels and needs refurbishment. It has permission granted to create two flats – a one- bed and a two-bed -– plus there is parking for several cars at the rear. A nearby property, 20 Zetland Road, sold for £125,000 in January 2008. Ashley Turner of Pattinson’s auction department said: “This property represents unbelievable value and offers great potential, with the possibility to convert this dwelling into two flats achieving rental figures in the region of £425pcm per flat. Once refurbished the property should offer a strong rental yield.” Zetland Road is well located to all local amenities including schools, bus routes, churches and Saltburn- by-the-sea. The property is available for viewings and attracting interest. Story continues ADVERTISEMENT The auction is at Newcastle Falcons Rugby Club, Kingston Park, Newcastle, on August 31. Contact Pattinson on 0845 146 1582.

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