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Sidegate, Durham, DH1

North East

£695,000
Listed on 17/01/2025

Property Details

Bedrooms
4
Type
Detached house
Area
1572 sqft

Description

This property presents a unique opportunity for both homebuyers and investors seeking renovation potential in a prime location in Durham City. Nestled on approximately 0.3 acres, the home offers a peaceful setting while remaining conveniently close to the River Wear and the vibrant amenities of the city center, all within a short walking distance. Spanning over 1,550 square feet, the residence is designed with functionality in mind. It features four bedrooms, one of which can easily serve as an office space, along with two spacious reception areas that enhance the living experience. The welcoming front entrance leads into a bright garden room, which seamlessly connects to an expansive living room that includes a charming fireplace with a log burner—a cozy feature for cooler months. The open-plan kitchen and dining area stands out with modern wall and base units complemented by quartz countertops, making it an ideal space for both cooking and entertaining. Additional practical spaces include a utility room and two separate W.C.s, enhancing everyday convenience. Three of the bedrooms come equipped with fitted storage solutions, maximizing usability within the home. Outdoor amenities are another highlight; the property boasts a generous lawn surrounded by mature shrubs, along with a timber decking area suitable for outdoor gatherings. A greenhouse and potting shed add to the appeal for gardening enthusiasts, while ample parking options—including a car charging point—ensure functionality. Importantly, this property comes with two approved planning consents that significantly enhance its investment potential. One option allows for extensive renovations that include two-storey side extensions and increased roof height to create additional living space (ref: DM/23/02530/FPA). Alternatively, there is approval for complete redevelopment into a new dwelling on a slightly smaller footprint (ref: DM/21/01876/FPA). Both pathways offer exciting prospects to customize or expand the existing structure according to modern living standards. Located in the sought-after Sidegate area, this property is well-positioned near quality schools and excellent transport links. Whether you envision transforming it into your dream family home or capitalize on its development possibilities as an investment venture, this property provides numerous avenues for future growth and enhancement.

Investment Analysis

(DH1 area)

Above Market Value

This property is priced +88.5% above area average per sq ft

+88.5%
This Property
£442/sq ft
Area Average
£235/sq ft
Avg Rent (weekly)
£352
Avg Yield
6.4%

Renovation Potential

Medium Refurb
Est. Renovation Cost
£50,000 - £80,000
Target Value
£405,670
10% above area average per sq ft
Potential ROI
-47.7%
After renovation
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
33
Average per month
Market Turnover
13%
Properties sold annually

Local Market Trend (DH1)

Area prices are stable by +1.7% over the last 12 months
3 year growth: 3.1%
5 year growth: 3.8%
Investment Disclaimer: Analysis based on DH1 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

Sidegate, Durham, DH1
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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
£2,546
Based on a loan of £521,250 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