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Land West Of The Croft, Greencroft, Stanley, DH9 - Image 1
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Land West Of The Croft, Greencroft, Stanley, DH9 - Image 5

Land West Of The Croft, Greencroft, Stanley, DH9

North East

£75,000
Listed on 28/09/2024

Property Details

Bedrooms
N/A
Type
Detached house

Description

This serviced plot offers a unique opportunity for those interested in creating a customized living space, as it comes with full planning permission for a detached house. Measuring 11 meters by 25 meters, the plot is equipped with essential connections to electricity, gas, and water. There is potential for additional land through separate negotiations, which could further enhance development possibilities. Architectural plans for various house types and layouts have been developed by Hodgson Architectural Services and are available for review upon request. This allows future homeowners to envision their ideal designs in a location that is primed for personal input and creativity. The property benefits from ongoing infrastructure improvements, including work on the proposed road that will be completed alongside the development of neighboring homes. A maintenance company will be established to manage communal areas once construction is finished, ensuring that these shared spaces remain well-kept. Residents will each hold a 1/8th share in this management entity, providing an organized approach to community upkeep. Situated in the desirable village of Greencroft, this plot is conveniently located about three miles from Stanley and four miles from Consett, both of which offer a variety of shopping and recreational amenities. Strong transport links via the A693, A692, and A691 highways facilitate easy access to larger cities like Durham and Newcastle. Moreover, it’s noteworthy that outline planning permission has been granted for a housing development in the adjacent field. This suggests potential growth in the area’s value over time and may increase demand for residential properties nearby. For further information on existing planning permissions, interested parties can refer to Durham County Council's online planning portal using reference numbers DM/18/01623/OUT and DM/15/02509/OUT.

Investment Analysis

(DH9 area)
Area Average
£115/sq ft
Avg Rent (weekly)
£145
Avg Yield
5.6%

Renovation Potential

Est. Renovation Cost
£7,500 - £18,750
10-25% of property value
Monthly Sales
36
Average per month
Market Turnover
57%
Properties sold annually

Local Market Trend (DH9)

Area prices are rising by +4.7% over the last 12 months
3 year growth: 6.2%
5 year growth: 7.5%
Investment Disclaimer: Analysis based on DH9 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

Land West Of The Croft, Greencroft, Stanley, DH9
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