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Selling Agent
Sourced Derby

14% ROCE – 3 Bed Mid-Terraced Buy-to-Let in County Durham

This recently refurbished modern property consists of 3 large bedrooms, a lounge, a dining room, a kitchen, a bathroom, gas central heating, its own driveway and a small garden.
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Key Features

  • 3 bed mid-terrace
  • Modern style
  • Recently refurbished
  • Own driveway
  • 14% ROCI
  • Gas central heating and UPVC windows

The Property

Sourced are delighted to present this off-market mid-terraced investment opportunity with a huge ROCE of 14%.

The property consists of:
• Lounge
• Dining room
• Kitchen
• 3 large bedrooms
• Bathroom
• Recently refurbished
• Gas central heating
• UPVC double-glazing
• Own driveway
• Small garden
• Freehold
• 14% ROCI (see illustration)

The current tenant has resided in the property since August 2014 on a rent of £400 pcm.

If purchased with a BTL mortgage with a 25% deposit, you could achieve 14% ROCI inclusive of SDLT and sourcing fee.

The landlord has owned the property in approximately 10 years and is selling in order to concentrate on property development.

Sourcing fee = £3,000

Stamp duty estimate prior to 31st March 2021– £2,250 (3% for additional property if applicable)

Any interested parties should conduct their own due diligence.

Yield and return on capital Invested illustration is based on the following:

Purchase price: £86,000:
Gross yield figure of 5.6% equates to £4,800 annual rent divided by purchase price of £86,000
ROCI illustration is based on:
Purchase price: £86,000 at 25% deposit = £21,500 + £2,580 (SDLT) + £3,000 (sourcing fee) = £27,080
Annual rent: £4,800 pa
Mortgage 2 year discount at 1.54% (Leeds) £1,020 pa
£4,800 - £1,020 = £3,780
£3,780 divided by £27,080 = 14% ROCI

Planning Information


The Plan

Off-market 3 bed mid-terraced property available for purchase.

The Financials:

Purchase price: £86,000
Current value: £100,000
Sourcing fee: £3,000
Rental income: £4,800 pa
ROCE: 14%

The Location

Bishop Auckland, County Durham, England is located about 12 miles (19 km) northwest of Darlington and 12 miles (19 km) southwest of Durham. Bishop Auckland has a population circa 25,000 and has excellent access being served by main trunk roads and rail links.

Local landmarks include Auckland Castle's Gatehouse, Binchester Roman Fort, Newton Cap Viaduct, Escomb Saxon Church, St Andrew's Parish Church and St Helen's Church.

The town has a number of Grade I listed buildings. The grounds of Auckland Castle alone contain seven such structures. Auckland Castle also provides the setting for Lewis Carroll's story "A Legend of Scotland".

The Castle re-opened in early November 2019, after a multi-million pound restoration. Additional work continued at and near the castle to make to town a significant tourist attraction.

Reports suggests that the revival of the area, dubbed the Auckland Project, will eventually cost a total of about £150,000,000.

Average estimated value for a house in DL14 6HQ