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Penfold Yard, Quakers Lane, Richmond - Image 1
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Penfold Yard, Quakers Lane, Richmond

North East

£135,000
Listed on 01/10/2025

Property Details

Bedrooms
1
Type
Detached house

Description

Tucked away in a quaint cobbled courtyard in the center of Richmond, this one-bedroom period cottage presents a solid opportunity for renovation and investment. The property includes a small portion of the courtyard, ideal for outdoor dining, alongside a privately owned parking space—an invaluable asset in this bustling area. Upon entering, you are welcomed by a practical hallway that provides storage solutions. The spacious lounge features a charming fireplace and boasts high ceilings with exposed beams, adding character to the interior. The kitchen is functional but ripe for modernization, while the double bedroom offers built-in storage and an en suite shower room. Although the cottage is double glazed and equipped with electric central heating, there is potential for updates that could enhance both its aesthetic appeal and value. This residence would serve well as a first home or second home, and it has been successfully utilized as a holiday let in the past. With no onward chain, the purchasing process is streamlined, facilitating an easier transition for prospective buyers. Richmond's vibrant atmosphere surrounds the property, characterized by its dog-friendly cobbled streets and lively marketplace filled with diverse bars, cafes, restaurants, and unique shops. Moreover, its proximity to historical landmarks like the Norman Castle makes it appealing not just for residents but also for tourists. Additionally, excellent transport links to the Yorkshire Dales, A1(m) motorway, and A66 open up myriad commuting options. Overall, this property stands as an excellent canvas for those looking to invest in an area rich in culture and natural beauty.

Investment Analysis

(DL10 area)
Area Average
£261/sq ft

Renovation Potential

Est. Renovation Cost
£13,500 - £33,750
10-25% of property value
Monthly Sales
14
Average per month
Market Turnover
18%
Properties sold annually

Local Market Trend (DL10)

Area prices are rising by +3.3% over the last 12 months
3 year growth: 2.7%
5 year growth: 25.7%
Investment Disclaimer: Analysis based on DL10 area averages and may not reflect property-specific factors like condition, exact location, or unique features. Renovation costs vary significantly based on property condition and scope of work. Always conduct professional surveys and get multiple quotes before making investment decisions.

Location

Penfold Yard, Quakers Lane, Richmond
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