Pattinson Estate Agents says ..

Property Oracle says ..

This eight-bedroom, four-bathroom property situated on North Parade, Whitley Bay, presents a compelling yet complex investment opportunity. Its prime location near the seafront and within walking distance of several ‘Outstanding’ Ofsted-rated primary schools is a significant advantage. The proximity to the beach and other amenities enhances the property’s potential rental yield or future resale value.

However, the property is presented in a mixed state of repair. Some rooms appear to be in relatively good condition, while others urgently require significant renovation and modernisation to reach a higher standard of livability. The lack of a garden also limits the overall appeal, especially for families. The absence of information regarding plot size makes it difficult to fully assess the value.

The images reveal contrasting pictures; beautifully furnished living spaces alongside bedrooms that are clearly unfinished and require extensive work, from flooring to wall plastering. Given the necessary renovations, the list price, while competitive for the area and number of rooms, is balanced by the substantial work required. A thorough survey would be crucial before any purchase to establish the full cost of repairs and the overall financial viability of the venture. Overall, this property could be a sound investment for buyers willing to undertake the project, but a complete assessment requires detailed professional inspection and a clear understanding of the renovation costs.

Therefore, we give this property 5 / 10. *Disclaimer: This is our option and does constitute a recommendation or financial advice. Do your own research. *

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