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Property Listing Details

Property details

  • 10 bedrooms
  • 1 bathroom

Features

  • Freehold

Listing view statistics

Last 30 days: 374 page views

Description

Development Opportunity

10 x 1 Bedroom Apartment with Ensuite Bathroom and Kitchen

Derwent Street, Chopwell, Newcastle upon Tyne, NE17 7AA

Market Value after Works = Circa £500,000

Purchase Price = £170,000

Finder’s Fee = £5,000 inc of VAT

Potential Gross Income = £4,000 pcm = £48,000 per annum

The property is an old public house situated in the centre of Chopwell, County Durham. It has recently been granted planning permission for 10 x one bedroom assisted living apartments with en suite bathrooms and kitchen living areas.

The owner would be happy withe the purchaser to change the planning for the flats to become residential flats as opposed to assisting living apartments.

The current owner has had a quote for £180,000 to do all the work required but the purchaser would still need to bring in the utility supplies.

Map & Nearby

Local Amenities

  • Prudhoe 3.7 miles
  • Wylam 3.8 miles
  • Chopwell Primary School 0.2 miles
  • High Spen Primary School 1.4 miles

Local map of the area

Map View Map showing location of property

Local Amenities

  • Prudhoe 3.7 miles
  • Wylam 3.8 miles
  • Chopwell Primary School 0.2 miles
  • High Spen Primary School 1.4 miles

Market stats

Sale activity

Average estimated value for a house in NE17:

  • £218,874
  • Price increase

  • £8,233
  • (3.909%)
  • Over the last 12 months

In the last 12 months

  • Average sale price

    £288,600
  • Properties sold

    5

Rental opportunities

Not known

Recent sales nearby

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Property descriptions and related information displayed on this page are marketing materials provided by Global Investments Group (GIG). Zoopla does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions or related information provided here and they do not constitute property particulars. Please contact Global Investments Group (GIG) for full details and further information.