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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 +86.0% above area average per sq ft

+86.0%
This Property
£442/sq ft
Area Average
£238/sq ft
Avg Rent (weekly)
£293
Avg Yield
5.4%

Renovation Potential

Est. Renovation Cost
£69,500 - £173,750
10-25% of property value
Target Value
£410,944
10% above area average per sq ft
Potential ROI
-52.7%
After renovation
Monthly Sales
45
Average per month
Market Turnover
43%
Properties sold annually

Local Market Trend (DH1)

Area prices are stable by +0.8% over the last 12 months
3 year growth: 0.0%
5 year growth: 4.0%
Investment Disclaimer: Analysis based on DH1 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

Sidegate, Durham, DH1
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