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Springbank Road, Newfield, Bishop Auckland

North East

£130,000
Listed on 08/04/2026

Property Details

Bedrooms
2
Type
End Of Terrace
Area
1037 sqft

Description

This property presents a compelling development opportunity in the tranquil village of Newfield, located just outside Durham. Currently, an end-terrace house with two bedrooms and two reception rooms occupies a generous corner plot which has been identified for potential redevelopment. Existing plans, which have received provisional approval, suggest the possibility of constructing two new three-bedroom homes on the site. There is also additional scope for more extensive development, including the potential to create multiple terrace homes with thoughtful layout options. The area boasts convenient access to nearby towns and essential amenities, creating an attractive prospect for both investors and developers looking to capitalize on this up-and-coming locale. Given that the current structure is derelict, demolition will be necessary before new construction can commence. The property holds significant promise for anyone interested in turning vision into reality in a desirable semi-rural setting.

Investment Analysis

(DL14 area)

Above Market Value

This property is priced +3.2% above area average per sq ft

+3.2%
This Property
£125/sq ft
Area Average
£122/sq ft
Avg Rent (weekly)
£126
Avg Yield
4.3%

Renovation Potential

Heavy Refurb
Est. Renovation Cost
£70,000 - £100,000
Target Value
£138,595
10% above area average per sq ft
Potential ROI
-39.7%
After renovation
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
46
Average per month
Market Turnover
15%
Properties sold annually

Local Market Trend (DL14)

Area prices are rising by +6.0% over the last 12 months
3 year growth: +3.6%
5 year growth: +9.0%
Investment Disclaimer: Analysis based on DL14 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

Springbank Road, Newfield, Bishop Auckland
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Mortgage Calculator

£
£
£
%
%
years

Current average 2-year fixed rate is 3.91%

Current average variable rate is 6.62%

Monthly Repayments
£460
Based on a loan of £97,500 over 30 years at 3.91% 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

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