Block of Apartments in South Bank

Flats 1 - 6 Church House, 77 Napier Street, South Bank, Cleveland TS6 6DE
  • Property Type: Block of Apartments
  • Contract Type: Unconditional with Variable Fee

Guide Price* £95,000+ plus fees

Property Description

A freehold investment opportunity comprising a two storey property located along Napier Street, South Bank. Current Gross income £4,380 (only one apartment let). The property consists of 6 apartments with 5 studios and 1 x one bedroom. We have been advised that apartment 3 will be let upon sale with a current rent passing of £365pcm. We feel that fully let at current market rates with some refurbishments £30,000 per annum would be achievable. We have been advised that each apartment is separate with own services and metering. Located in a rapidly developing area, this property not only promises consistent cash flow but also holds potential for long-term capital appreciation as South Bank continues to grow. Whether you're looking for a low-risk investment or a property with long-term value, this is an opportunity not to be missed. Interested parties are advised to inspect the legal pack for more information.

Note

Please be advised that the auctioneers have not personally inspected the property. Prospective buyers are advised to make a viewing enquiry and any other necessary independent enquiries before placing their bid, as this will be binding.


Tenure

Freehold

Auction Details: The sale of this property will take place on the stated date by way of Auction Event and is being sold as Unconditional with Variable Fee (England and Wales). Binding contracts of sale will be exchanged at the point of sale. All sales are subject to SDL Property Auctions’ Buyers Terms. Properties located in Scotland will be subject to applicable Scottish law. Auction Deposit and Fees: The following deposits and non- refundable auctioneer’s fees apply:
  • 5% deposit (subject to a minimum of £5,000)
  • Buyer’s Fee of 4.8% of the purchase price for properties sold for up to £250,000, or 3.6% of the purchase price for properties sold for over £250,000 (in all cases, subject to a minimum of £6,000 inc. VAT). For worked examples please refer to the Auction Conduct Guide.
The Buyer’s Fee does not contribute to the purchase price, however it will be taken into account when calculating the Stamp Duty Land Tax for the property (known as Land and Buildings Transaction Tax for properties located in Scotland), because it forms part of the chargeable consideration for the property. There may be additional fees listed in the Special Conditions of Sale, which will be available to view within the Legal Pack. You must read the Legal Pack carefully before bidding. Additional Information: For full details about all auction methods and sale types please refer to the Auction Conduct Guide which can be viewed on the SDL Property Auctions’ home page. This guide includes details on the auction registration process, your payment obligations and how to view the Legal Pack (and any applicable Home Report for residential Scottish properties). Guide Price & Reserve Price Each property sold is subject to a Reserve Price. The Reserve Price will be within + or – 10% of the Guide Price. The Guide Price is issued solely as a guide so that a buyer can consider whether or not to pursue their interest. A full definition can be found within the Buyers Terms.

Auction Details

Date 28th August 2025

Venue National Property Auction
Our national property auction will be broadcast online with live auctioneers. To bid by proxy, online, or by phone, please submit your registration form no later than 5pm the day before the auction.

Lot Information

Contact Us

If you have any questions, call our team on 0800 046 5454

Map

Flats 1 - 6 Church House, 77 Napier Street, South Bank, Cleveland TS6 6DE