Initial price	£17,000
02/08/25	£16,000
Price Change	-5.88%

This leasehold two-bedroom flat investment is located at 159 Collingwood Court in Washington, Tyne and Wear, and is available for sale under an auction contract with a guide price of £16,000 plus. The property features a spacious reception room, kitchen, bathroom, and two bedrooms, with uPVC double glazing and gas central heating. The flat has a 125-year lease with 88 years remaining, and the current ground rent is £10 per annum and the service charge is £1000 per annum. The property is currently vacant and has previously generated an income of £5,160 per annum. Located in the historic town of Washington, the property offers easy access to amenities and attractions in the surrounding area. The buyer will need to pay a 10% deposit and a buyer's premium of 2% of the sale price, minimum £5,000 + VAT, upon exchange of the contract.