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Mill Farm Road, Hamsterley Mill, Rowlands Gill NE39 - Image 1
Mill Farm Road, Hamsterley Mill, Rowlands Gill NE39 - Image 2
Mill Farm Road, Hamsterley Mill, Rowlands Gill NE39 - Image 3

Mill Farm Road, Hamsterley Mill, Rowlands Gill NE39

North East

£850,000
Listed on 25/12/2025

Property Details

Bedrooms
4
Type
Detached house
Area
3254 sqft

Description

Nestled in a tranquil valley, this substantial detached former water mill dating back to the mid-18th century presents an exciting opportunity for renovation and investment. Spanning approximately 3,254 sq ft over four floors, the property boasts versatile accommodation and is surrounded by natural beauty, including woodland and flowing water. The site features unique elements such as natural waterfalls and serene pools that add both charm and potential character to the landscape. Originally part of the historic Hamsterley Mill complex, the interior has been adapted for modern living while preserving its distinctive character. With a spacious open-plan kitchen at its heart, the home also offers four double bedrooms, two bathrooms, and an impressive entertaining space that highlights the building’s industrial heritage. The ground floor living room opens onto a raised deck with views of the garden and stream—ideal for outdoor entertaining. A cosy family room on the lower ground floor connects directly to nature, providing an inviting escape during colder months. There's great potential here for further development or alterations (subject to necessary consents), making it a viable investment project. Notably, this property is not listed, which grants increased flexibility for modifications. Its modern sustainability features—such as 18 solar panels with battery storage—also enhance energy efficiency and can help reduce long-term costs. Set within the scenic Derwent Valley area known for its wildlife-rich surroundings, including red kites and kingfishers, this home offers not only a retreat but a lifestyle that merges historical significance with modern comforts. It's an exceptional candidate for those looking to create something truly unique in a serene setting.

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
£70,000 - £100,000
Target Value
£741,831
10% above area average per sq ft
Potential ROI
-21.9%
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 NE39
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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