6 Bed House, Refurb/BRRR, Bishop Auckland, DL14 6SQ, £650,000

East Deanery, South Church, Bishop Auckland, Durham, DL14 6SQ - 6 views - 2 years ago

Refurb/BRRR
~186 m²
+20 photos

ValuationOvervalued

Sold Prices£50K - £527K
Sold Prices/m²£309/m² - £7.2K/m²

 

 

Square Metres

~186 m²
Price/m²£3.5K/m²

Value Estimate

£287,074

 

 

End Value (After Refurb)

£282,410

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£162,500

Stamp Duty & Legal Fees

£40,700

Refurb Costs

£71,424

Bridging Loan Interest

£17,063

Total Cash In

£293,437

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£282,410

Mortgage (After Refinance)

£211,807

Mortgage LTV

75%

Cash Left In

£293,437

Equity

£70,602

Rent Range

£550 - £1,200

Rent Estimate

£817

Running Costs/mo

£1,066

Cashflow/mo

£-249

Cashflow/yr

£-2,987

Gross Yield

2%

Local Sold Prices

50 sold prices from £50K to £527K, average is £200K. £309/m² to £7.2K/m², average is £1.5K/m².

PriceDateDistanceAddressBeds 
£185K12/200.2 mi5, Beechwood Drive, Bishop Auckland, County Durham DL14 6XS4
£105K12/200.26 mi3, Rosemount Road, Bishop Auckland, County Durham DL14 6SX4
£255K09/210.27 mi3, Riverside, South Church, Bishop Auckland, Durham DL14 6XT4
£225K11/210.27 mi26, Riverside, South Church, Bishop Auckland, Durham DL14 6XT4
£195K04/210.27 mi25, Riverside, South Church, Bishop Auckland, Durham DL14 6XT4
£175K10/200.27 mi1, Riverside, South Church, Bishop Auckland, Durham DL14 6XT4
£238K03/230.27 mi5, Riverside, South Church, Bishop Auckland, County Durham DL14 6XT4
£215K06/210.27 mi37, Riverside, South Church, Bishop Auckland, Durham DL14 6XT4
£210K12/200.27 mi20, Riverside, South Church, Bishop Auckland, Durham DL14 6XT4
£230K10/200.27 mi50, Riverside, South Church, Bishop Auckland, Durham DL14 6XT4
£260K07/230.27 mi42, Riverside, South Church, Bishop Auckland, County Durham DL14 6XT4
£230K03/210.27 mi47, Riverside, South Church, Bishop Auckland, Durham DL14 6XT4
£215K06/210.27 mi55, Riverside, South Church, Bishop Auckland, Durham DL14 6XT4
£195K04/210.27 mi25, Riverside, South Church, Bishop Auckland, Durham DL14 6XT4
£187K02/210.42 mi9, Westlea Avenue, Bishop Auckland, Durham DL14 6HE4
£136K06/210.42 mi33, Westlea Avenue, Bishop Auckland, County Durham DL14 6HE4
£138K09/210.44 mi33, St Andrews Road, Bishop Auckland, Durham DL14 6RT4
£194K01/230.44 mi9, Westlea Avenue, Bishop Auckland, County Durham DL14 6HE4
£50K01/210.45 mi36, Seymour Street, Bishop Auckland, Durham DL14 6JD4
£163K02/210.5 mi90, Cockton Hill Road, Bishop Auckland, County Durham DL14 6BE4
£115K04/210.5 mi140, Cockton Hill Road, Bishop Auckland, County Durham DL14 6BG4
£125K07/230.5 mi134, Cockton Hill Road, Bishop Auckland, County Durham DL14 6BG4
£146K02/230.51 mi5, Ashcroft Gardens, Bishop Auckland, County Durham DL14 6HF4
£116K10/210.51 mi70, Cockton Hill Road, Bishop Auckland, County Durham DL14 6BD4
£125K02/230.51 mi18, Percy Street, Bishop Auckland, County Durham DL14 6BQ4
£50K08/230.57 mi9, Tivoli Place, Bishop Auckland, County Durham DL14 6AU4
£219.1K08/210.59 mi28, Cleveland Avenue, Bishop Auckland, County Durham DL14 6AR4
£205K08/210.6 mi85, Watling Road, Bishop Auckland, Durham DL14 6RR4
£235K03/210.6 mi79, Watling Road, Bishop Auckland, County Durham DL14 6RR4
£247.5K04/210.63 mi16, Pilkington Way, Auckland Park, Bishop Auckland, Durham DL14 8YN4
£150K05/210.68 mi21, St Phillips Close, Auckland Park, Bishop Auckland, Durham DL14 8BD4
£232K02/230.69 mi40, St Phillips Close, Auckland Park, Bishop Auckland, County Durham DL14 8BD4
£219.9K06/210.69 mi15, Walmer Avenue, Bishop Auckland, Durham DL14 6NW4
£195K11/220.73 mi2, Ferguson Court, Bishop Auckland, County Durham DL14 6FJ4
£220K03/210.73 mi30, Northumberland Avenue, Bishop Auckland, County Durham DL14 6NP4
£200K05/210.74 mi14, Ferguson Court, Bishop Auckland, Durham DL14 6FJ4
£205K08/230.77 mi24, Prescott Way, Bishop Auckland, County Durham DL14 6FL4
£177.5K02/210.78 mi28, Woodside Meadows, Auckland Park, Bishop Auckland, County Durham DL14 8EP4
£200K06/230.78 mi43, Woodside Meadows, Auckland Park, Bishop Auckland, County Durham DL14 8EP4
£246K06/230.81 mi35, Brooklands, Bishop Auckland, County Durham DL14 6PP4
£190K03/230.81 mi20, St Carileph Way, Bishop Auckland, County Durham DL14 7GD4
£210K04/210.86 mi5, Compton Grove, Bishop Auckland, Durham DL14 6LX4
£179K06/230.93 mi18, Brockwell Court, Coundon Grange, Bishop Auckland, County Durham DL14 8XH4
£169.9K06/210.93 mi32, Brockwell Court, Coundon Grange, Bishop Auckland, County Durham DL14 8XH4
£180K07/210.96 mi7, Langley Grove, Bishop Auckland, Durham DL14 6UJ4
£527K06/230.96 mi17, The Dell, Bishop Auckland, County Durham DL14 7HJ4
£400K06/210.96 mi18, The Dell, Bishop Auckland, County Durham DL14 7HJ4
£415K05/210.96 mi12, The Dell, Bishop Auckland, County Durham DL14 7HJ4
£327.5K03/210.96 mi15, The Dell, Bishop Auckland, Durham DL14 7HJ4
£485K02/210.97 mi5, Durham Road, Bishop Auckland, Durham DL14 7HU4

Local Rents

21 rents from £550/mo to £1.2K/mo, average is £860/mo.

RentDateDistanceAddressBeds 
£95004/240.27 miSt. Cuthberts Way, Bishop Auckland, County Durham, DL144
£1,20004/240.3 miRiverside4
£70004/240.52 miBell Street, Bishop Auckland, Durham, Co. Durham, DL14 6BA4
£57504/240.53 miBell Street , Bishop Auckland 3
£55003/240.53 miCraddock Street, Bishop Auckland, , DL14 6HA3
£65004/240.53 miBell Street, Bishop Auckland, County Durham, DL143
£57512/240.54 miDavid Terrace Coronation, Bishop Auckland3
£1,08503/240.55 miFordham Court, Bishops Auckland, D144
£86004/240.55 miFordham Court, Bishops Auckland, D143
£87503/240.55 miFordham Court, Bishops Auckland, D143
£91004/240.55 miFordham Court, Bishops Auckland, D143
£1,10004/240.55 miFordham Court, Bishops Auckland, D144
£89504/240.57 miMarsh Way, Bishops Auckland, D143
£89504/240.57 miMarsh Way, Bishops Auckland, D143
£86004/240.57 miMarsh Way, Bishops Auckland, D143
£1,10003/240.57 miBishops Park II, Bishops Auckland, DL144
£65004/240.57 miRavensworth Avenue, Bishop Auckland, DL143
£65004/240.57 mi-3
£79508/230.6 mi-3
£67504/240.61 miBradford Drive, Bishop Auckland3
£60003/240.62 miSalisbury Place, Bishop Auckland, County Durham, DL143

Local Area Statistics

Population in DL14

37,237

Population in Bishop Auckland

51,200

Town centre distance

0.77 miles away

Nearest school

0.10 miles away

Nearest train station

0.71 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+7%

Sales demand

Seller's market

Capital growth (5yrs)

-4%

Property History

Listed for £650,000

June 14, 2023

Floor Plans

Description

A six bedroom, 13th Century, Grade I listed private residence with significant potential for re-development and 1.42 acres of grassland and grounds.

Believed to be one of the only medieval collegiate establishments to survive, East Deanery was built in 1292 and is a unique and characterful, period property with Grade I listed status. Currently the ground floor is used as storage and recreational space and has significant scope for renovation and redevelopment. The first and second floors are currently used as the primary residence consisting of a kitchen, living room, bathroom, boot room, laundry, utilityroom and three bedrooms. This is a unique opportunity to transform a very special property, which could be used for multi-generational living or two separate residences, subject to the necessary consents. Externally there are 0.58 acres of grassland, several outbuildings and large gardens making it ideal for use as a smallholding. The whole plot including house, gardens and land, measures approximately 1.42 acres.

The land tinted pink on the attached plan is being purchased by the Sellers and it is anticipated that it will be included in the sale. The land tinted blue on the plan is to be excluded from the sale.

History and Architectural features
East Deanery is one of the oldest privately owned residences in the country and was built in 1292 by Bishop Anthony Bek. It was originally constructed for Benedictine Monks and is believed to be one the last stopping points for pilgrims making the journey to St Cuthbert’s shrine, within Durham Cathedral. It has many truly unique features including of particular note, a stone spiral staircase, and several medieval grave covers that have been used to form door lintels and plaques throughout the property. There are several stone arches and stone mullion windows throughout, emphasising the centuries old history of the property.

Directions
From the A688 turn onto St Andrews Road and then take the second right turn into Mill Lane. At the end of the houses, continue over a small bridge onto the access drive to East Deanery. At the top of the hill the gates to East Deanery will be on your right. A second access is available off Rosemount Road. What three words: ///noted.jungle.breed

Location
East Deanery is located in an elevated position withinthe South Church area of Bishop Auckland and close to local amenities such as schools, supermarkets, restaurants and other local services. The area is served by good rail and bus links and the A688 is close by, leading to the A1(M). Durham is approximately 10 miles to the north and Darlington is approximately 11 miles to the south east.

Services
The property is connected to mains water, mains electricity, mains drainage and a solid wood fired
central heating system. A connection to mains gas is avaiable nearby.

Agent Details

H&H Land & Estates, Penrith

01768 800790

Next Steps?

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