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Northgate, Darlington, DL1

North East

£400,000
Listed on 23/11/2024

Property Details

Bedrooms
10
Type
Detached house

Description

This property represents a significant investment opportunity, previously operating as 'The Bridge', a hotel and pub. Situated in the heart of the town centre, it boasts a prime location just a 10-minute walk from the train station, along with convenient access to shops, bus routes, and restaurants. The building features three levels above the ground floor plus a cellar, coming equipped with 10 bedrooms and 5 bathrooms in total. The ground floor includes original fittings in the bar area and various spaces including a games room and kitchen. Additionally, an enclosed paved garden offers potential for parking or outdoor use. This versatile property has great renovation prospects that could be tailored into boutique accommodations, co-living spaces or other hospitality ventures.

Investment Analysis

(DL1 area)
Area Average
£160/sq ft
Avg Rent (weekly)
£157
Avg Yield
5.5%

Renovation Potential

Heavy Refurb
Est. Renovation Cost
£200,000 - £300,000
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
46
Average per month
Market Turnover
20%
Properties sold annually

Local Market Trend (DL1)

Area prices are rising by +7.5% over the last 12 months
3 year growth: 11.9%
5 year growth: 19.6%
Investment Disclaimer: Analysis based on DL1 area averages and may not reflect property-specific factors like condition, exact location, or unique features. Any renovation cost estimates provided are AI-generated and should be considered indicative only. 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

Northgate, Darlington, DL1
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Mortgage Calculator

£
£
£
%
%
years

Current average 2-year fixed rate is 4.19%

Current average variable rate is 6.78%

Monthly Repayments
£1,465
Based on a loan of £300,000 over 30 years at 4.19% interest

These results are estimates and are only intended as a guide. Make sure you obtain accurate figures from your lender before committing to any mortgage. Your home may be repossessed if you do not keep up repayments on a mortgage.

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YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE