1a-17a Cheveley Park, Durham
AN

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 %
from 433,305.00 £
Est sale value
5,177,440.71 £
Increased by 21.77 %
from 4,251,744.45 £
Average area rental value
1,587.00 £/mo
Decreased by 7.46 %
from 1,715.00 £/mo
Est letting value
10,763.91 £/mo
Unchanged by 0.00 %
from 10,763.91 £/mo
Est rental Yield
4.47 %
Decreased by 5.89 %
from 4.75 %
Crime Rate
39.00 %
Unchanged by 0.00 %
from 39.00 %

Agent Activity

  • Andrew Craig created the listing.

Nearby Schools

NameTypeOfstedDistance
St Thomas More Primary School, BelmontAcademy Converter0.30 KM
Belmont Cofe (Controlled) Primary SchoolVoluntary Controlled SchoolGood0.46 KM
Belmont Cheveley Park Primary SchoolCommunity SchoolGood0.62 KM
Belmont Community SchoolCommunity SchoolGood0.63 KM
St Hild'S College Church Of England Aided Primary School, DurhamVoluntary Aided SchoolGood2.45 KM

Images

 (Main) External External External Flat 17a Flat 17a Flat 17a Flat 17a

Nearby Streets

NameAverage PriceAverage SqftDistance
The Larches £ 000.00 KM
Saint Mary's Road £ 000.00 KM
Ennerdale Close £ 000.00 KM
Fellside Gardens £ 175,00000.00 KM
Grange Road £ 174,31300.00 KM

Nearby Transport

NameNLCTLCDistance
Durham7745DHM6.51 KM
Chester-Le-Street7736CLS9.73 KM

Nearby Listings

AddressPriceTypeScoreDistance
1a-17a Cheveley Park, Durham £ 1,150,000BUY5 / 100.00 KM
Heatherdale Crescent, Belmont, Durham, DH1 £ 300,000BUY7 / 100.17 KM
Cheveley Park Shopping Centre, Belmont, Durham, DH1 £ 70,000BUY6 / 100.18 KM
Cheveley Park Shopping Centre, Belmont, Durham, DH1 £ 70,000BUY5 / 100.18 KM
Bishops Close, Belmont, Durham, DH1 £ 200,000BUY6 / 100.19 KM

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9 Brackendale Road £ 210,0000.06 KM