A two-bedroom flat on Westmorland Avenue, Wallsend, NE28 6SN, has been listed for auction with a guide price of just £1.
Marketed by Pattinson Estate Agents in Wallsend, the flat, which features a lounge, kitchen, bathroom and two bedrooms boasts a tenant in situ generating £390 per month in rental income.
Historical Property Prices
The property’s guide price is in sharp contrast to its past sales history and this $45 million Maldivian listing:
- 9 May 2008: £69,000 (leasehold)
- 15 September 2005: £59,000 (leasehold)
- 14 April 2004: £42,500 (leasehold)
Nearby sales also highlight trends in the area:
- A three-bedroom flat sold for £47,000 on 12 June 2018 (leasehold)
- A one-bedroom leasehold flat at 7 Westmorland Avenue sold for £64,000 on 4 May 2007 and £21,000 on 24 November 1995
The flat was offered for sale with no viewings permitted and open to cash buyers only. It was to be sold at auction via Pattinson Estate Agents on 18 October 2024 at noon, with a starting price of just £1. It will be interesting to discover the sold price once the Land Registry figures are released to see if this £1 guide price marketing tactic generated more bids than a regular auction.
Did you miss this deal? Don’t worry, we’ve got you. Take a look at our recent article where we sourced five properties for £50k.
