6 Bed Terraced House, Cash/Bridging Only, Durham, DH1 4QP, £1,200,000

45 South Street, Durham, County Durham, DH1 4QP - 7 months ago

Cash
~446 m²
+27 photos

ValuationUndervalued

Sold Prices£135K - £900K
Sold Prices/m²£1.1K/m² - £5.2K/m²

 

 

Square Metres

~445.70 m²
Price/m²£2.7K/m²

Value Estimate

£1,234,493
BMV3%

 

 

End Value (After Refurb)

£1,173,942

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£300,000

Stamp Duty & Legal Fees

£122,450

Refurb Costs

£170,612

Bridging Loan Interest

£31,500

Total Cash In

£626,312

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£1,173,942

Mortgage (After Refinance)

£880,456

Mortgage LTV

75%

Cash Left In

£626,312

Equity

£293,485

Rent Range

£672 - £5,308

Rent Estimate

£1,960

Running Costs/mo

£4,081

Cashflow/mo

£-2,121

Cashflow/yr

£-25,447

Gross Yield

2%

Local Sold Prices

45 sold prices from £135K to £900K, average is £397.5K. £1.1K/m² to £5.2K/m², average is £2.8K/m².

PriceDateDistanceAddressBeds 
£460K03/210.02 mi60, South Street, Durham, County Durham DH1 4QP4
£370K01/210.21 mi22, Briardene, Durham, County Durham DH1 4QU4
£460K02/230.25 mi20, The Avenue, Durham, County Durham DH1 4ED4
£475K02/210.25 mi8, The Avenue, Durham DH1 4ED4
£397.5K06/210.25 mi14, The Avenue, Durham, County Durham DH1 4ED4
£531.8K06/230.25 mi23, Crossgate Peth, Durham, County Durham DH1 4PZ4
£355K11/200.25 miAspen Lodge, Crossgate Peth, Durham DH1 4PZ4
£450K11/200.32 miMoreland House, The Avenue, Durham, County Durham DH1 4EB4
£430K05/210.35 mi40, Highgate, Durham DH1 4GA4
£600K01/230.39 miFarnley Hey, Farnley Hey Road, Durham, County Durham DH1 4EA4
£485K03/210.41 mi5, Farnley Hey Road, Durham, County Durham DH1 4EA4
£418.3K01/230.42 mi38, Archery Rise, Durham, County Durham DH1 4LA4
£260K09/210.44 mi46, Kirkwood Drive, Durham DH1 4FF4
£343K12/200.46 mi1, Howlcroft Villas, Durham, County Durham DH1 4DU4
£900K12/200.48 miPercy House, Percy Lane, Durham DH1 4HE4
£540K01/230.5 mi7, Albert Street, Durham, County Durham DH1 4RL4
£295K06/210.52 mi27, Faraday Court, Durham DH1 4FG4
£300K05/210.52 mi30, Faraday Court, Durham DH1 4FG4
£520K01/230.56 mi14, St Monica Grove, Durham, County Durham DH1 4AT4
£320K08/210.58 mi21, Geoffrey Avenue, Durham DH1 4PF4
£307K09/210.58 mi39, St Bedes Close, Durham DH1 4AA4
£326K01/230.58 mi45, St Bedes Close, Durham, County Durham DH1 4AA4
£195K06/210.59 mi18, St Bedes Close, Durham, County Durham DH1 4AB4
£715K10/210.62 miCrook Hall Farmhouse, Sidegate, Durham, County Durham DH1 5SZ4
£390K04/230.63 mi11, Wearside Drive, Durham, County Durham DH1 1LE4
£315K12/200.64 mi22, Redhills Lane, Durham, County Durham DH1 4AJ4
£135K05/230.68 mi12a, Nevilles Cross Villas, Durham, County Durham DH1 4JR4
£478K12/220.69 mi9, Redhills Lane, Durham, County Durham DH1 4AL4
£295K04/230.73 mi10, Kells Buildings, Durham, County Durham DH1 4JL4
£385K05/210.77 mi31, Field House Lane, Durham DH1 4LT4
£414K06/210.77 mi14, Ferens Park, Durham DH1 1NU4
£361K03/210.77 mi4, Ferens Park, Durham DH1 1NU4
£435K03/230.77 mi15, Ferens Park, Durham, County Durham DH1 1NU4
£325K07/230.77 mi5, Railway Cottages, Crossgate Moor, Durham, County Durham DH1 4JB4
£400K06/210.78 mi15, Nickleby Chare, Durham, County Durham DH1 3QX4
£435K10/210.78 mi14, Nickleby Chare, Durham, County Durham DH1 3QX4
£373K10/210.78 mi1, Dickens Wynd, Durham, County Durham DH1 3QR4
£435K12/210.78 mi12, Dickens Wynd, Durham DH1 3QR4
£490K12/210.79 miTriermayne, Nevilles Cross Bank, Durham, County Durham DH1 4JP4
£620K03/210.79 miLindisfarne, Nevilles Cross Bank, Durham, County Durham DH1 4JP4
£325K12/200.81 mi5, Copperfield, Durham, County Durham DH1 3QT4
£600K05/210.85 miWestaways, Lowes Barn Bank, Durham, County Durham DH1 3QP4
£390K04/230.89 mi144, Gilesgate, Durham, County Durham DH1 1QQ4
£340K04/230.9 mi15, Boste Crescent, Durham, County Durham DH1 5US4
£380K11/220.9 mi19, Boste Crescent, Durham, County Durham DH1 5US4

Local Rents

38 rents from £672/mo to £5.3K/mo, average is £1.5K/mo.

RentDateDistanceAddressBeds 
£71512/240.17 miAllergate, Durham, DH15
£5,30812/240.19 miAlexandria Crescent, Crossgate Moor, Durham7
£75812/240.22 miNevilledale Terrace, Durham5
£1,70012/240.22 mi-4
£1,15012/240.23 miQuarryheads Lane, Durham, County Durham, DH13
£73712/240.25 miAtherton Street, Durham, DH14
£3,64008/240.26 mi-6
£67212/240.27 miHawthorn Terrace, Durham, DH16
£2,00012/240.28 miNevilledale Terrace, Durham, DH15
£67612/240.28 miHawthorn Terrace, Durham, DH16
£3,79212/240.29 miLawson Terrace, Durham City5
£5,30812/240.3 miFlass Street, Durham City7
£4,55012/240.32 mi-6
£3,68312/240.32 miMistletoe Street, Durham City5
£3,46712/240.32 miMistletoe Street, Durham City5
£2,00012/240.33 miBeech Croft, Durham, DH15
£1,40012/240.34 miByland Close, Durham City3
£69311/240.41 mi-4
£1,95012/240.43 miLeazes Court, Leazes Place, Durham, DH14
£72812/240.45 miBoyd Street, Durham, DH17
£72812/240.47 miPeartree Cottages, Durham, DH16
£72812/240.48 miHigh Wood View, Durham, DH17
£72812/240.48 miHigh Wood Terrace, Durham, DH16
£1,60012/240.49 miKirkwood Drive, Nevilles Cross5
£1,10012/240.49 miKirkwood Drive, Sheraton Park3
£1,05012/240.49 mi-3
£1,60012/240.52 mi-4
£1,10011/240.52 mi-4
£70612/240.52 miThe Hallgarth, Durham, DH16
£70612/240.52 miThe Hallgarth, Durham, DH16
£71912/240.53 miHallgarth Street, Durham, DH17
£1,29512/240.57 miKirkwood Drive, Nevilles Cross, Durham4
£3,77012/240.58 miSt. Monica Grove, Durham6
£1,80012/240.59 miIllingworth Grove, Durham, DH13
£3,10008/230.6 mi-4
£3,40002/250.6 mi-4
£3,00002/250.6 mi-4
£2,42712/240.6 miDLI 1 Cottages, Back Western Hill, Durham4

Local Area Statistics

Population in DH1

49,938

Population in Durham

124,445

Town centre distance

0.31 miles away

Nearest school

0.20 miles away

Nearest train station

0.40 miles away

 

 

Rental demand

Balanced market

Rental growth (12m)

+5%

Sales demand

Balanced market

Capital growth (5yrs)

+10%

Property History

Listed for £1,200,000

September 16, 2024

Floor Plans

Description

  • Stunning Grade II Listed Townhouse +
  • City Centre Location +
  • Unrivalled views over Durham Castle, Cathedral and River Wear +
  • Period Features +
  • Flexible Accommodation +

Accommodation in Brief
Cellar | Store Rooms Ground Floor
Reception Hall | Cloak Room | Dining Room | Kitchen | Utility Room | Garden Room First Floor
Drawing Room | Sitting Room | Study | Bathroom | Kitchenette | WC Second Floor
Three Double Bedrooms | Dressing Room | Bathroom | WC Third Floor
Three Bedrooms | Shower Room | Storage Area The Property
Situated within a short walk from Durham City Centre, 45 South Street is an exquisite Grade II Listed Georgian townhouse featuring a private rear garden and an elegant interior. The symmetrical exterior is a testament to classic Georgian architecture, showcasing a beautiful façade with a slate tile roof and sash windows with fine glazing bars. Stepping inside, the property continues to impress with its grand living spaces. Interior designs have been carefully chosen to both enhance and complement the original style and character. Period features that are typical of the era include high ceilings, decorative cornicing, classic fireplaces, and wide-plank wooden flooring. The grand dark-toned fireplace in the expansive entrance hall is a focal point of the space. The impressive surround, extending to the ceiling features an array of intricate details that showcase quality craftsmanship. The similarly striking staircase completes this inviting entrance. From here, you can easily access the kitchen, dining room, and garden room, as well as a convenient cloakroom and utility room. The kitchen is light and beautifully appointed, featuring cream coloured traditional shaker style cabinetry paired with warm wooden worktops, a large electric Rangemaster and an integrated dishwasher. A generous island enhances both storage and worktop space and includes breakfast bar seating for casual dining. The adjoining dining room is a highlight, rich in character, making it the perfect place for formal hosting and entertaining. The main reception rooms are on the first floor, alongside a well-appointed bathroom. The beautifully presented sitting room and drawing room are arranged to create comfortable and intimate seating areas. The rooms also boast elegant chandeliers and expansive bay windows, which provide ample natural light and offer stunning views of the River Wear and beyond. Additionally, there is a versatile room, ideal as an additional living area or a dedicated home office. The second-floor hosts three similarly grand double bedrooms with unique period details and excellent views. The principal bedroom benefits from a spacious dressing room. The bedrooms are served by a contemporary bathroom. This stylish space is equipped with a freestanding roll top bath and a separate shower cubicle. The windows on the third floor boast breathtaking panoramic views of Durham City Centre and the majestic Cathedral. This floor is thoughtfully designed with three bedrooms, a contemporary shower room, and ample storage space. Externally
45 South Street offers unparalleled views of the UNESCO World Heritage Durham Cathedral, the Castle College of Durham University, and the scenic River Wear. The property includes a private rear garden providing a tranquil retreat. Featuring low-maintenance paved seating areas and beautifully landscaped flower beds. Additionally, residents can apply for two parking permits for the street outside: one for themselves and one for visitors. Local Information
45 South Street is within walking distance of the vibrant and historic university city of Durham. Winding cobbled streets lead from the loop of the River Wear up to the dramatic Durham Cathedral and Castle World Heritage Site. The city offers peaceful riverside walks and the chance to relax in one of the many cafés, restaurants, artisan workshops, boutiques, galleries and museums. Cultural and entertainment venues include the successful Gala Theatre, The Assembly Rooms Theatre, and the Palace Green Library. The extraordinary Romanesque Durham Cathedral dominates the skyline with the Norman Durham Castle facing it across the Palace Green. To the north of the castle is the 13th century medieval Crook Hall. South of the river, Durham University offers a Botanic Garden with woodland and tropical plants, and the Oriental Museum exhibiting Asian, Egyptian and Middle Eastern artefacts. The picturesque Durham Heritage Coast is only a short drive away, offering stunning walks with wild cliffs, dunes and views out across the North Sea. To the west lies the North Pennines Area of Outstanding Natural Beauty (AONB) and all the outdoor opportunities it has to offer. The thriving city of Newcastle is within easy reach and offers a further range of cultural, educational, professional, recreational and shopping facilities. For the commuter, the A1 provides good access to Darlington, Gateshead, Newcastle City Centre and Newcastle International Airport. Durham Tees Valley Airport is also within easy reach. The railway station at Durham provides mainline rail links north and south with regular fast services to London and Edinburgh. Approximate Mileages
Durham City Centre 0.5 miles | Durham Railway Station 0.9 miles | Newcastle City Centre 18.9 miles | Teesside International Airport 22.7 | Newcastle International Airport 25.2 miles Services
Mains electricity, water and drainage. Gas 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.

Agent Details

Finest Properties, Corbridge

01434 409033

Next Steps?

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