4 Bed Detached House, Cash/Bridging Only, Consett, DH8 7SP, £695,000

Brooms Lea Cottage, Brooms Lane, Leadgate, Consett, County Durham, DH8 7SP - 1 views - a year ago

Cash
~129 m²
+20 photos

ValuationOvervalued

Sold Prices£51K - £505K
Sold Prices/m²£580/m² - £3K/m²

 

 

Square Metres

~129.26 m²
Price/m²£5.4K/m²

Value Estimate

£230,816

 

 

End Value (After Refurb)

£225,000

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£173,750

Stamp Duty & Legal Fees

£44,300

Refurb Costs

£49,610

Bridging Loan Interest

£18,244

Total Cash In

£287,653

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£225,000

Mortgage (After Refinance)

£168,750

Mortgage LTV

75%

Cash Left In

£287,653

Equity

£56,250

Rent Range

£370 - £3,000

Rent Estimate

£712

Running Costs/mo

£866

Cashflow/mo

£-154

Cashflow/yr

£-1,842

Gross Yield

1%

Local Sold Prices

50 sold prices from £51K to £505K, average is £210K. £580/m² to £3K/m², average is £1.8K/m².

PriceDateDistanceAddressBeds 
£145K04/210.41 mi52, St Ives Road, Consett, County Durham DH8 7QB4
£170K03/210.48 mi25, St Ives Gardens, Leadgate, Consett, Durham DH8 7PQ4
£210K01/210.71 mi16, Valley View, Leadgate, Consett, Durham DH8 7PR4
£133K04/210.73 mi1, Eden Vale Mews, Leadgate, Consett, Durham DH8 7SG4
£350K05/210.82 mi67, Iveston Lane, Consett, Durham DH8 7TB4
£225K11/201.15 mi35, Carr House Mews, Consett, Durham DH8 6FD4
£216K03/211.15 mi6, Carr House Mews, Consett, Durham DH8 6FD4
£195K11/201.2 mi23, Newbell Court, Consett, Durham DH8 6FE4
£185K03/231.23 mi8, Granary Court, Consett, County Durham DH8 6FF4
£200K03/231.23 mi23, Granary Court, Consett, County Durham DH8 6FF4
£235K11/221.24 mi12, Newbell Court, Consett, County Durham DH8 6FE4
£225K11/221.25 mi25, Rolling Mill, Consett, County Durham DH8 6NH4
£247.5K11/201.25 mi26, Rolling Mill, Consett, Durham DH8 6NH4
£140K12/201.35 mi29, Pikesyde, Dipton, Stanley, County Durham DH9 9EQ4
£168.5K06/211.39 mi181, Greenways, Consett, County Durham DH8 7DW4
£120K02/211.41 mi51, Villa Real Road, Consett, Durham DH8 6BL4
£275K06/231.52 mi30, Balmoral Grove, Consett, County Durham DH8 6DE4
£160K05/211.55 mi28, Chapel Drive, Delves Lane, Consett, Durham DH8 7EW4
£275K06/211.65 mi10, The Villas, Greencroft, Stanley, County Durham DH9 8PA4
£300K01/211.68 mi3, Douglas Court, Greencroft, Stanley, County Durham DH9 8UE4
£350K02/211.77 mi56, Fines Road, Consett, County Durham DH8 6QS4
£286K06/231.78 mi48, Holwick Close, Consett, County Durham DH8 7UJ4
£210K12/201.78 mi41, Holwick Close, Consett, Durham DH8 7UJ4
£227K06/231.78 mi47, Holwick Close, Consett, County Durham DH8 7UJ4
£220K04/211.78 mi6, Holwick Close, Consett, Durham DH8 7UH4
£175K07/231.78 mi19, Cedar Court, Catchgate, Stanley, County Durham DH9 8LY4
£188K05/231.78 mi15, Cedar Court, Catchgate, Stanley, County Durham DH9 8LY4
£225K06/211.78 mi8, Askrigg Close, Consett, County Durham DH8 7EF4
£215K07/211.78 mi37, Askrigg Close, Consett, County Durham DH8 7EF4
£280K01/231.79 mi16, Eggleston Drive, Consett, County Durham DH8 7UB4
£125K08/211.79 mi19, Park Road, Consett, Durham DH8 5EA4
£207K12/211.79 mi32, Eggleston Drive, Consett, Durham DH8 7UB4
£222.5K12/201.79 mi36, Eggleston Drive, Consett, Durham DH8 7UB4
£220K08/211.79 mi33, Mickleton Close, Consett, Durham DH8 7UG4
£51K02/231.82 mi12, Langdon Gardens, Stanley, County Durham DH9 8RW4
£127K04/211.83 mi23, Alexandra Street, Consett, County Durham DH8 5DR4
£171K09/211.83 mi6, Queens Gate, Consett, Durham DH8 5FB4
£270K03/231.85 mi3, Cotherstone Close, Consett, County Durham DH8 7UE4
£128K03/211.86 mi11, Valiant Way, Catchgate, Stanley, Durham DH9 8FG4
£203K03/211.88 mi20, Harwood Close, Templetown, Consett, Durham DH8 7PB4
£210K12/201.89 mi29, Highsteads, Medomsley, Consett, Durham DH8 6QA4
£191K07/231.9 mi20, Ovington Close, Templetown, Consett, County Durham DH8 7NY4
£220K11/211.9 mi23, Ovington Close, Templetown, Consett, Durham DH8 7NY4
£240K11/211.9 mi24, Ovington Close, Templetown, Consett, Durham DH8 7NY4
£162.5K02/211.92 mi1, Bethany Terrace, Stanley, County Durham DH9 8TW4
£265K05/231.92 mi64, Manor Road, Consett, County Durham DH8 6QW4
£505K11/201.93 miBlackfyne House, 162, Durham Road, Blackhill, Consett, Durham DH8 5TN4
£203K03/211.93 mi9, Millfield, Templetown, Consett, Durham DH8 7NZ4
£147K04/211.95 mi16, Viscount Close, Catchgate, Stanley, County Durham DH9 8FD4
£150K02/211.97 mi12, Viscount Close, Catchgate, Stanley, County Durham DH9 8FD4

Local Rents

50 rents from £370/mo to £3K/mo, average is £650/mo.

RentDateDistanceAddressBeds 
£65002/240.41 mi-3
£65012/240.41 miDunelm Way, Consett, DH83
£65004/240.41 mi-3
£62504/250.41 mi-2
£62512/240.43 mi-2
£60012/240.66 mi-3
£49505/240.68 mi-2
£49501/250.68 mi-2
£72512/240.72 mi-2
£75012/240.78 miBluebell Close, Leadgate, Consett, DH83
£60012/240.79 mi-2
£2,10012/240.81 miIveston Lane, Iveston, Consett, Durham, DH86
£3,00012/240.9 miWhitehall Lane, Iveston6
£1,10012/241.15 mi-4
£75012/241.21 miSteading Court, Consett3
£60012/241.34 mi-2
£69501/251.39 mi-3
£2,85002/251.41 mi-3
£39512/241.41 miGreenways, Consett, DH81
£55012/241.44 miGladstone Gardens, Consett, Durham, DH82
£47512/241.47 mi-2
£60012/241.5 mi-2
£74504/251.53 mi-2
£55012/241.53 mi-2
£62512/241.53 miRosemary Close, Consett2
£75012/241.53 mi-3
£70012/241.55 miChapel Drive, Consett, DH83
£95012/241.55 mi-4
£90012/241.56 mi-2
£90012/241.56 mi-3
£52512/241.56 miSouthernwood, Consett2
£1,05004/251.56 mi-5
£60012/241.57 mi-2
£1,00004/251.57 mi-3
£72512/241.57 mi-3
£59511/241.59 mi-2
£60012/241.62 miAnnfield Place, ., Stanley, Durham, DH9 8NP2
£60012/241.63 miEmma Street, Consett, Durham, DH82
£52512/241.64 miDurham Road, Consett, Durham, DH81
£77502/251.67 mi-3
£69512/241.67 mi-3
£60012/241.67 mi-2
£49512/241.69 miCleadon Street, Consett, Durham, DH81
£50012/241.71 miBeverley Gardens, Consett, County Durham, DH82
£79012/241.71 miDeepdale Drive, Consett, DH83
£79012/241.71 mi-3
£80012/241.72 mi-3
£72503/251.75 mi-3
£37012/241.76 miChurch Street, Consett, DH81
£79512/241.78 miAskrigg Close, Consett3

Local Area Statistics

Population in DH8

38,324

Population in Consett

38,379

Town centre distance

1.86 miles away

Nearest school

0.40 miles away

Nearest train station

7.84 miles away

 

 

Rental demand

Balanced market

Rental growth (12m)

+9%

Sales demand

Seller's market

Capital growth (5yrs)

+14%

Property History

Listed for £695,000

June 3, 2024

Floor Plans

Description

  • Stone-Built Detached Property +
  • Recently Renovated +
  • Gorgeous Internal Décor +
  • Semi-Rural Setting +
  • Gardens & Paddock +
  • Countryside Views +

Accommodation in Brief 
Ground Floor 
Entrance Hall | Family Room | Sitting Room | Kitchen/Dining Room | Store | Bathroom | Principal Bedroom with En-suite Shower Room | Further Bedroom  
First Floor  
Two Further Bedrooms with Potential En-suites/Walk-in Wardrobes  Driveway | Stable Block | Patio | Summerhouse | Paddock | Hen House & Run   The Property 
Brooms Lea Cottage is a beautiful stone-built rural home, recently renovated to a high standard to create a luxury family home with flexible space to suit a variety of buyers and lifestyles.   An interesting corner porch provides an excellent entrance into a light, open reception room with a variety of uses from family room to play room or study. Off to the left is a beautiful, sunny sitting room where the vaulted ceiling, bay window, glazed French doors out onto the patio and glazed double doors into the kitchen/dining room give a fantastic open plan living feel, yet with the option of closing spaces off for more privacy. A brick inglenook fireplace and stone hearth with multifuel burning stove adds a wonderful homely feature. The stunning kitchen is beautifully appointed with integrated appliances including electric oven and hob, and dishwasher, promontory breakfast bar, space for a large American style fridge/freezer and a large dining table and chairs. This is the ultimate space for entertaining. A large store room or panty to the rear of the kitchen is a fantastic bonus and a stable style door to the outside is used as the informal entrance on a daily basis.  To the other side of the family room is a door to the rest of the house, nicely dividing the living rooms from the sleeping accommodation. The dual aspect principal bedroom is located at the far end of the hall, enjoying privacy from the rest of the house. It has a smart tasteful en-suite shower room with double width walk-in shower and rainfall head. A gorgeous, pristine, white bathroom with modern free-standing bath serves the further bedroom on the ground floor.  An elegant bespoke oak staircase curves up from the hall which has room for a seating area or desk, and the first floor houses two light, bright eaves bedrooms, both with rooms off them that have potential to be walk-in wardrobes and also have plumbing for en-suites.  Externally 
Approached via paved drive with an abundance of parking, Brooms Lea Cottage offers expansive lawns and a sectioned off paddock with a hen house and run. Beside the house is a patio, ideal for outdoor dining and entertaining whilst enjoying the idyllic countryside views. A stable block provides excellent storage for gardening equipment and a wooden summer house to the rear would make a great children’s play house. Brooms Lea Cottage covers approximately 1.31 acres all together.  Local Information 
Consett is a thriving town offering schools, several supermarkets, large stores and professional services. Nearby Shotley Bridge is an appealing and convenient village, sitting in the Derwent Valley on the County Durham and Northumberland Border. It offers a range of local amenities such as post office, shops, restaurant, public houses and primary school. Durham and Hexham provide more comprehensive services with excellent schooling, hospitals and a further choice of shops and eateries. For commuters the A1, A69, Newcastle Airport and City Centre are all extremely accessible.  Approximate Mileages 
Durham City Centre 12.4 miles | Newcastle City Centre 12.4 miles | Corbridge 15.9 miles | Newcastle International Airport 16.1 miles | Hexham 21.6 miles  Services 
Mains electricity and water. Drainage to septic tank. Oil fired central heating.  Wayleaves, Easements & Rights of Way 
The property is being sold subject to all existing wayleaves, easements and rights of way, whether or not specified within the sales particulars.  Agents Note to Purchasers 
We strive to ensure all property details are accurate, however, they are not to be relied upon as statements of representation or fact and do not constitute or form part of an offer or any contract. All measurements and floor plans have been prepared as a guide only. All services, systems and appliances listed in the details have not been tested by us and no guarantee is given to their operating ability or efficiency. Please be advised that some information may be awaiting vendor approval.  Submitting an Offer 
Please note that all offers will require financial verification including mortgage agreement in principle, proof of deposit funds, proof of available cash and full chain details including selling agents and solicitors down the chain. To comply with Money Laundering Regulations, we require proof of identification from all buyers before acceptance letters are sent and solicitors can be instructed. 

EPC Rating: D

Agent Details

Finest Properties, Corbridge

01434 409033

Next Steps?

This deal was sourced from Rightmove. Contact the landlord/agent for a viewing now 💪

Similar Properties

Like this property? Maybe you'll like these ones close by too.