This property offers a unique investment prospect in the form of Chapel House, set within approximately 0.77 acres in the appealing village of Marley Hill, Newcastle upon Tyne. The freehold comprises a charming two to three-bedroom cottage and four self-contained apartments, alongside a separate one-bedroom cottage and multiple outbuildings including garages, all ripe for renovation or redevelopment. With an estimated annual income of around £45,600 from existing rental units and the flexibility of vacant possession, this site allows new owners the ability to explore various strategies for improving or expanding revenue streams.
The main residence features a characterful cottage that boasts scenic views over surrounding fields and woods. The additional accommodations include four residential apartments and a separate one-bedroom dwelling, offering immediate potential for rental income.
Moreover, the extensive landholding enhances the development aspect significantly; it once had planning permission for a detached home and could be suited for further residential projects or enhancement of current rental options after obtaining necessary consents. Potential buyers can consider several avenues for value growth: increasing rental prices across existing units, refurbishment initiatives to elevate living standards, or leveraging the expansive grounds to add more residential space.
Chapel House is conveniently located near key transport links while being enveloped by picturesque countryside walks and amenities that cater to both long-term residents and short-term rental guests.
