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Raby Road, Hartlepool, TS24 - Image 1
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Raby Road, Hartlepool, TS24

North East

£495,000
Listed on 25/08/2025

Property Details

Bedrooms
N/A
Type
Detached house

Description

This property presents a noteworthy development opportunity on the site of the former Odeon Cinema in Hartlepool, which has been recently cleared for new construction. Though planning permission has not yet been secured, the positive pre-application feedback from Hartlepool's Development Corporation bodes well for future prospects. Envisioned as a three to four-storey building, the project is designed to feature four commercial units on the ground floor, complemented by a total of 19 residential apartments – 10 one-bedroom and 9 two-bedroom units. This configuration aims to meet the growing housing demand in Hartlepool while providing valuable retail space that could enhance the local economy. Spanning approximately 0.37 acres, this site is strategically located within the Hartlepool Town Centre Regeneration Zone. The Tees Valley Development Corporation has committed £25 million to revitalizing the area, which will improve amenities and infrastructure, making it an attractive place for residents and businesses alike. Residents will benefit from close proximity to essential services, including major retailers such as Morrisons and Asda, as well as leisure options like Hartlepool Football Club. The nearest school is just 0.3 miles away, and public transport is easily accessible with Hartlepool Train Station only 0.7 miles from the site. Given Hartlepool's current housing shortage, this redevelopment offers significant investment potential in a rapidly transforming area. With groundwork already laid after the demolition of the previous structure, this project is poised to contribute meaningfully to both community living and commercial viability in Hartlepool's evolving landscape.

Investment Analysis

(TS24 area)
Area Average
£112/sq ft
Avg Rent (weekly)
£136
Avg Yield
6.3%

Renovation Potential

Heavy Refurb
Est. Renovation Cost
£2,000,000 - £3,000,000
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
19
Average per month
Market Turnover
16%
Properties sold annually

Local Market Trend (TS24)

Area prices are rising by +4.0% over the last 12 months
3 year growth: -0.4%
5 year growth: 13.6%
Investment Disclaimer: Analysis based on TS24 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

Raby Road, Hartlepool, TS24
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Mortgage Calculator

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£
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years

Current average 2-year fixed rate is 4.19%

Current average variable rate is 6.78%

Monthly Repayments
£1,813
Based on a loan of £371,250 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