123 George Street, Wallsend, Tyne And Wear, NE28 6SL

For sale by Online Auction - 28th of October 2026.

One-Bedroom Ground Floor Flat Located in Wallsend Description One-Bedroom Ground Floor Flat George Street, Wallsend Offered for sale via unconditional auction, this one-bedroom ground floor flat is situated on George Street, Wallsend, and presents an excellent opportunity for investors or buyers seeking a refurbishment project with attractive potential returns.

The property requires refurbishment throughout, allowing the successful purchaser to update and improve the accommodation to their own specification.

The flat is to be sold with vacant possession and is held on a Tyneside lease.

With a potential market rent of approximately £600 per calendar month, the property offers the opportunity to generate an estimated annual rental income of £7,200 once refurbished and let.

Based on the anticipated all-in purchase price, including fees, the indicative gross rental yield is approximately 22.9%, making this an opportunity worthy of consideration for investors seeking to expand their portfolio.

Property and Investment Summary One-bedroom ground floor flat Located on George Street, Wallsend Tyneside lease Refurbishment required Sold with vacant possession Potential market rent: £650 PCM Predicted annual rental income: £7,800 Indicative gross yield: 22.9% (based on the all-in purchase price, including fees) Open Market Value: £68,000 Sale method: Unconditional auction An opportunity to acquire a refurbishment project with strong potential rental returns, subject to the cost of works, final purchase price and market conditions.

Prospective purchasers are advised to carry out their own due diligence and satisfy themselves as to the lease terms, property condition and rental potential before bidding.

Local Area: Situated in Wallsend, this property offers proximity to local retail amenities, transport links, and essential services within the surrounding community.

IMPORTANT NOTICE UNCONDITIONAL AUCTION SALE: This property is offered by way of Unconditional Auction.

The successful bidder is required to pay a non-refundable deposit (typically 10% of the purchase price) and a Buyer's Premium immediately upon the fall of the hammer.

Exchange of contracts takes place on the day of the auction and completion is required within the specified timeframe (typically 28 days).

Town & Country Property Auctions North East acts as agent for the vendor.

Town & Country Property Auctions North East has not inspected all parts of the property and has relied upon information provided by the vendor and third parties.

No warranties or representations are given regarding the condition, suitability or compliance of the property.

All information, including the ground rent, absence of a service charge and parking arrangements, is provided for guidance only and must be independently verified by prospective purchasers and their professional advisers.

IMPORTANT NOTICE UNCONDITIONAL AUCTION SALE: This property is offered by way of Unconditional Auction.

The successful bidder is required to pay a non-refundable deposit (typically 10% of the purchase price) and a Buyer's Premium immediately upon the fall of the hammer.

Exchange of contracts takes place on the day of the auction and completion is required within the specified timeframe (typically 28 days).

Town & Country Property Auctions North East acts as agent for the vendor.

Tenure Freehold (Tyneside Lease Agreement) Legal Pack A legal pack is a collaboration of important documents of the property or land that is going to be sold at auction.

To review the legal pack, click the Legal Documents button at the bottom of this advert or visit tcpa.co.uk.

Auction Information To view the auction information, click the Online Bidding button at the bottom of this advert or visit tcpa.co.uk.

UNCONDITIONAL LOT Buyers Premium Applies Upon the fall of the hammer, the Purchaser shall pay a 5% deposit and a 5%+VAT (subject to a minimum of £5,000+VAT) buyers premium 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).

Pre Auction Offers Are Considered The seller of this property may consider a pre-auction offer prior to the auction date.

All auction conditions will remain the same for pre-auction offers which include but are not limited to, the special auction conditions which can be viewed within the legal pack, the Buyer's Premium, and the deposit.

To make a pre-auction offer we will require two forms of ID, proof of your ability to purchase the property and complete our auction registration processes online.

To find out more information or to make a pre-auction offer please contact us.

Any additional costs will be listed in the Special Conditions within the legal pack and these costs will be payable on completion.

The legal pack is available to download free of charge under the LEGAL DOCUMENTS'.

Any stamp duty and/or government taxes are not included within the Special Conditions within the legal pack and all potential buyers must make their own investigations.