1a-17a Cheveley Park, Durham
By Andrew Craig
£ 1,150,000
Reviews
2 out of 5 stars
Andrew Craig says ..
An excellent investment opportunity comprising of seventeen two bedroom residential apartments, situated over shops in the Belmont area of Durham. The flats are mostly tenanted and currently produce a good income stream with substantial potential for improvement as leases are renewed or existing ...
Property Oracle says ..
This property, 1a-17a Cheveley Park, Durham, presents itself as an investment opportunity rather than a family home. It comprises seventeen two-bedroom apartments situated above shops in Belmont, Durham. The listing highlights the property’s potential rental income as a key selling point. The location in Belmont offers reasonable proximity to local amenities including schools (several nearby primary schools with good Ofsted ratings), and transport links (train stations at a reasonable distance). The images suggest the apartments are in a relatively well maintained, but could benefit from modernisation of the interiors. However, there is minimal or no private outdoor space. While the list price of £1,150,000 might seem high at first glance, further due diligence to verify the current rental income and potential for future rental increases is critical. This property is particularly suitable for investors seeking a portfolio of rental units, but would likely require a substantial investment in refurbishment to maximize rental returns and achieve above market value.
Therefore, we give this property 5 / 10. *Disclaimer: This is our option and does constitute a recommendation or financial advice. Do your own research. *
- Price
- 7
- Condition
- 5
- Location
- 7
- Land
- 1
- Bedrooms
- 34
- Bathrooms
- 0
- Sqft (est)
- 10,763.91
The heatmap indicates the level of crime in the area. The color of the heatmap indicates the crime severity and recency.
Metrics Year-on-Year
- Average area value
- 426,436.00 £Decreased by 1.59 %
- Est sale value
- 5,177,440.71 £Increased by 21.77 %
- Average area rental value
- 1,587.00 £/moDecreased by 7.46 %
- Est letting value
- 10,763.91 £/moUnchanged by 0.00 %
- Est rental Yield
- 4.47 %Decreased by 5.89 %
- Crime Rate
- 39.00 %Unchanged by 0.00 %
Agent Activity
Andrew Craig created the listing.
Nearby Schools
| Name | Type | Ofsted | Distance |
|---|---|---|---|
| St Thomas More Primary School, Belmont | Academy Converter | 0.30 KM | |
| Belmont Cofe (Controlled) Primary School | Voluntary Controlled School | Good | 0.46 KM |
| Belmont Cheveley Park Primary School | Community School | Good | 0.62 KM |
| Belmont Community School | Community School | Good | 0.63 KM |
| St Hild'S College Church Of England Aided Primary School, Durham | Voluntary Aided School | Good | 2.45 KM |
Images
Nearby Streets
| Name | Average Price | Average Sqft | Distance |
|---|---|---|---|
| The Larches | £ 0 | 0 | 0.00 KM |
| Saint Mary's Road | £ 0 | 0 | 0.00 KM |
| Ennerdale Close | £ 0 | 0 | 0.00 KM |
| Fellside Gardens | £ 175,000 | 0 | 0.00 KM |
| Grange Road | £ 174,313 | 0 | 0.00 KM |
Nearby Transport
| Name | NLC | TLC | Distance |
|---|---|---|---|
| Durham | 7745 | DHM | 6.51 KM |
| Chester-Le-Street | 7736 | CLS | 9.73 KM |
Nearby Listings
| Address | Price | Type | Score | Distance |
|---|---|---|---|---|
| 1a-17a Cheveley Park, Durham | £ 1,150,000 | BUY | 5 / 10 | 0.00 KM |
| Heatherdale Crescent, Belmont, Durham, DH1 | £ 300,000 | BUY | 7 / 10 | 0.17 KM |
| Cheveley Park Shopping Centre, Belmont, Durham, DH1 | £ 70,000 | BUY | 6 / 10 | 0.18 KM |
| Cheveley Park Shopping Centre, Belmont, Durham, DH1 | £ 70,000 | BUY | 5 / 10 | 0.18 KM |
| Bishops Close, Belmont, Durham, DH1 | £ 200,000 | BUY | 6 / 10 | 0.19 KM |
Nearby Properties
| Address | Price | Distance |
|---|---|---|
| 18 Brackendale Road | £ 165,000 | 0.06 KM |
| 36 Brackendale Road | £ 157,000 | 0.06 KM |
| 5 Brackendale Road | £ 116,000 | 0.06 KM |
| 26 Brackendale Road | £ 185,000 | 0.06 KM |
| 9 Brackendale Road | £ 210,000 | 0.06 KM |