Unique freehold development opportunity comprising a two-bedroom terraced house requiring full refurbishment, substantial adjoining former pub site and separate jitty/access, offering huge redevelopment potential subject to planning.
Description
A substantial and unusual freehold investment/development opportunity comprising a two-bedroom terraced house, a large adjoining vacant site formerly occupied by a public house, together with a separate jitty/access – all included within one freehold title.
Offered for sale by auction is this exciting opportunity at 34 & 36 Second Street, presenting considerable scope for investors, developers and builders looking for a project with significant potential.
The lot comprises an existing two-bedroom terraced house, a substantial vacant plot where a former public house previously stood, together with a separate jitty/access area. The whole is being sold together under one freehold title.
The existing house extends to approximately 64 sq. metres according to the floorplan and is arranged over two floors. The accommodation comprises a living room and kitchen/dining area to the lower floor, with two bedrooms and a bathroom above.
The property is currently in a poor condition and requires a comprehensive programme of refurbishment and repair, making it ideally suited to an experienced investor, builder or developer. Once renovated, the house offers the opportunity to create a two-bedroom residential property alongside the wider potential offered by the adjoining land.
Of particular interest is the large vacant site adjoining the house, formerly occupied by a public house. The site provides a substantial area of predominantly cleared land and could offer considerable scope for redevelopment, additional residential accommodation or alternative uses, subject to all necessary planning permissions and consents.
Also included within the freehold is a separate jitty/access running between the surrounding properties, connecting through towards the main road.
The combination of an existing dwelling, sizeable former pub site and additional access makes this a particularly interesting proposition with numerous potential asset-management and redevelopment possibilities.
The property is situated within an established residential area, with local amenities and transport connections readily accessible. The wider area also benefits from proximity to the Durham Heritage Coast.
Key Features
Substantial freehold development/investment opportunity
34 & 36 Second Street offered as one lot
Existing two-bedroom terraced house
House extends to approximately 64 sq. metres
Requires extensive refurbishment and repair
Large adjoining vacant plot
Site formerly occupied by a public house
Separate jitty/access included within the freehold
Potential for redevelopment or additional accommodation, subject to planning
Excellent opportunity for builders, developers and investors
Vacant possession of the house and main former pub site
Tenure: Freehold
Please note: Given the condition of the existing building, prospective purchasers should make their own enquiries regarding its structural condition and suitability for refurbishment. Any redevelopment, change of use, subdivision or additional dwellings would be subject to the relevant planning permissions and statutory consents.
Tenure: Freehold
EPC Rating: ordered
Important Notice to Prospective Buyers
We draw your attention to the Special Conditions of Sale within the Legal Pack, referring to other charges in addition to the purchase price which may become payable. Such costs may include Search Fees, reimbursement of Sellers costs and Legal Fees, and Transfer Fees amongst others.
Administration Charge
£3,600 inc vat payable upon the fall of the virtual gavel
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- Unconditional (Immediate Exchange)
Call the team on 0191 908 9691 for more information
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