Northgate, Darlington

North East

£135,000

Listed on 06/03/2025

Property details

Bedrooms

N/A

Type

Residential Development

Area

2522 sqft

Description

This property presents a promising development opportunity situated on the first and second floors, currently possessing planning approval for the conversion into six residential apartments. This is an ideal project for investors or developers looking to capitalize on urban living demand in the North East. The existing layout can be transformed, offering a chance to create modern, functional living spaces that cater to today's market needs.

Investment analysis

(DL1 area)

Below Market Value

This property is priced -66.0% below area average per sq ft

-66.0%

Potential saving

This Property

£54/sq ft

Area Average

£158/sq ft

Avg Rent (weekly)

£154

Avg Yield

5.5%

Renovation Potential

Medium Refurb

Est. Renovation Cost

£180,000 - £250,000

Target Value

£437,075

10% above area average per sq ft

Potential ROI

+13.5%

After renovation

Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.

Monthly Sales

Average per month

Market Turnover

19%

Properties sold annually

Local Market Trend (DL1)

Area prices are stable by +1.2% over the last 12 months

3 year growth: +7.9%

5 year growth: +15.5%

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.

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Location

Northgate, Darlington

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Property Price

Household Income

Deposit

Deposit %

Interest Rate

Repayment Period

years

Current average 2-year fixed rate is 4.45%

Current average variable rate is 6.60%

Monthly Repayments

£510

Based on a loan of £101,250 over 30 years at 4.45% 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.

Stamp duty calculator

Buyer type *

I am a UK resident

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Northgate, Darlington

Property details

Description

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