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Millbank Terrace, Bedlington

North East

£55,000
Listed on 28/10/2025

Property Details

Bedrooms
2
Type
Flat

Description

This first-floor flat presents a promising opportunity for investors or renovators looking to capitalize on a property with great potential. Currently configured with two bedrooms and two reception rooms, there is flexibility to reconfigure the layout into a three-bedroom, one-reception arrangement, depending on your needs. The rooms are generously sized, offering a solid foundation for transformation. Located conveniently near Bedlington town center, this property benefits from excellent access to local amenities and transport links, including Bedlington station. This accessibility enhances its appeal for renting or resale in the future. Upon entering, you are welcomed by a UPVC door leading into an entrance hallway that features stairs up to the first floor. The dining room boasts a double-glazed window overlooking the rear of the building and includes a traditional gas fire. The lounge benefits from a charming bay window at the front that floods the space with natural light and highlights architectural coving along the ceiling. The kitchen is functional, equipped with various wall and floor units complemented by roll-edge work surfaces. It includes essential appliances such as an electric fan-assisted oven and an integrated fridge-freezer. There is ample plumbing available for laundry facilities. On the first floor landing, access to the loft provides additional storage options. Two well-proportioned bedrooms feature laminate flooring with double-glazed windows providing both light and ventilation. The bathroom is practical, containing a mains shower cubicle alongside standard fittings. With no onward chain and its leasehold status set at 999 years from June 1990 without associated ground rent or service charges, this property offers an attractive investment scenario. Additionally, given its history tied to the North East's mining heritage, conducting a mining search would be prudent for potential buyers. Early viewings are recommended to explore how this flat can be transformed into a contemporary living space or maximize its rental potential in this desirable location.

Investment Analysis

(NE22 area)
Area Average
£171/sq ft
Avg Rent (weekly)
£159
Avg Yield
4.0%

Renovation Potential

Medium Refurb
Est. Renovation Cost
£15,000 - £30,000
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
21
Average per month
Market Turnover
40%
Properties sold annually

Local Market Trend (NE22)

Area prices are stable by +2.0% over the last 12 months
3 year growth: 1.3%
5 year growth: 16.6%
Investment Disclaimer: Analysis based on NE22 area averages and may not reflect property-specific factors like condition, exact location, or unique features. Any renovation cost estimates provided are AI-generated and should be considered indicative only. Renovation costs vary significantly based on property condition and scope of work. Always conduct professional surveys and get multiple quotes before making investment decisions.

Location

Millbank Terrace, Bedlington
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Mortgage Calculator

£
£
£
%
%
years

Current average 2-year fixed rate is 4.19%

Current average variable rate is 6.78%

Monthly Repayments
£201
Based on a loan of £41,250 over 30 years at 4.19% interest

These results are estimates and are only intended as a guide. Make sure you obtain accurate figures from your lender before committing to any mortgage. Your home may be repossessed if you do not keep up repayments on a mortgage.

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YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE