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North East
£40,000
Listed on 25/09/2026
Listed on 25/09/2026
The listing
WHOTS analysis
An internal assessment of the opportunity to acquire, improve and create value.
Confidence: MEDIUM
This two-bedroom ground floor flat on Station Road, Wallsend presents an intriguing opportunity for those looking to take on a significant renovation project. With an asking price of £40,000, which is exceptionally low at £52/sqf compared to the local average of £183/sqf, buyers can acquire this property at a bargain rate. The flat, housed in a charming traditional red brick terrace, offers a generous space of approximately 771 sq ft, and the potential to restore its original features, such as decorative cornicing and a stone fireplace, adds to its appeal.
However, the condition of the property is poor, with visible damage and significant wear throughout, including outdated fittings in the kitchen and bathroom. This extensive renovation will require a budget estimated between £80,000 and £120,000, making it a full-gut programme rather than a simple refresh. The project allows for creative freedom in transforming the space into a modern home while preserving its character, but potential buyers should be prepared for the scale of work necessary to bring this flat back to life.
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Finance
Illustrative repayments based on the asking price, not a mortgage offer.
Current average 2-year fixed rate is 4.45%
Current average variable rate is 6.60%
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.
Tax
Indicative tax based on the asking price and the options you select.
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