Chapel House presents a unique opportunity for those looking to invest in a multi-income property with notable renovation and development potential. Set on approximately 0.77 acres in the semi-rural village of Marley Hill, this substantial freehold property features a characterful two/three-bedroom cottage, four self-contained apartments, and an independent one-bedroom unit. This arrangement allows for diverse income streams, currently yielding around £45,600 per annum from the rental units alone.
The main residence benefits from scenic views and includes a spacious open-plan living area, while the additional accommodations provide flexibility for immediate rental or refurbishment. The extensive grounds host various outbuildings—including garages and workshop space—and the site has previously been approved for further residential development, making it an enticing prospect for those looking to enhance capital value through strategic renovations or new construction.
Potential improvements could focus on re-letting, refurbishing current units to attract higher rents, optimizing existing space, or even developing additional residential properties (subject to planning consent). The secure gated courtyard enhances accessibility and security for residents and visitors alike.
With its peaceful setting yet excellent transport links to Newcastle upon Tyne and surrounding areas, this property not only offers current income but also significant prospects for future growth.
