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Mill Farm Road, Hamsterley Mill, Rowlands Gill

North East

£850,000
Listed on 31/12/2025

Property Details

Bedrooms
4
Type
Detached house
Area
3254 sqft

Description

Nestled in a tranquil valley, The Old Mill is a unique detached former water mill dating back to the mid-18th century. With approximately 3,254 sq ft of adaptable living space spread over four levels, this property presents significant renovation and development potential. Surrounded by picturesque woodland and a lively watercourse, it offers an exceptional level of privacy and an immersive natural atmosphere. The residence features a blend of historical charm and modern updates while retaining many original characteristics that could be enhanced through thoughtful renovations. The main living area showcases a spacious open-plan kitchen that is ideal for both family life and entertaining, complemented by four genuine double bedrooms and two bathrooms. For outdoor enthusiasts, the ground floor living room leads out onto a raised deck that overlooks lush gardens and the stream—perfect for enjoying al fresco dining or simply relaxing in nature. The lower-ground family room connects directly to the landscape with easy access to gardens and flowing waters, creating a cozy environment for intimate gatherings. While the property has seen some modernisation, there is ample opportunity to further enhance its character and increase value, particularly as it is not listed. The addition of 18 solar panels contributes to energy efficiency but invites further innovations in sustainable living that could be explored. Moreover, the surrounding area boasts rich biodiversity, offering nature lovers a chance to engage with local wildlife amidst serene woodland walks. This property not only represents a striking historical home but also stands out as an investment opportunity in an emerging location known for its scenic beauty and community spirit.

Investment Analysis

(NE39 area)

Above Market Value

This property is priced +26.0% above area average per sq ft

+26.0%
This Property
£261/sq ft
Area Average
£207/sq ft

Renovation Potential

Medium Refurb
Est. Renovation Cost
£60,000 - £120,000
Target Value
£741,831
10% above area average per sq ft
Potential ROI
-23.5%
After renovation
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
8
Average per month
Market Turnover
16%
Properties sold annually

Local Market Trend (NE39)

Area prices are rising by +7.7% over the last 12 months
3 year growth: 1.0%
5 year growth: 3.7%
Investment Disclaimer: Analysis based on NE39 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

Mill Farm Road, Hamsterley Mill, Rowlands Gill
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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
£3,114
Based on a loan of £637,500 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