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Selling Agent
Sourced Derby

18.9% ROCE – 3 Bed End-Terraced BTL in County Durham

Located in County Durham, this investment opportunity has excellent access to being served by main trunk roads and rail links.
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Key Features

  • 3 bed end terrace
  • Double storey rear extension
  • Recently refurbished
  • Detached garage
  • Gas central heating and UPVC double glazing
  • 18.9% ROCI

The Property

Sourced are thrilled to present this off-market extended end-terraced investment opportunity, with an excellent ROCE of 18.9%.

The property consists of:
• Lounge
• Dining room
• Kitchen
• 3 large bedrooms
• Bathroom
• Detached garage
• Garden
• Double storey extension to the rear
• Recently refurbished
• Gas central heating
• UPVC double-glazing
• Largest property on the street and is
• Freehold

The current tenant has resided in the property since December 2019 on a rent of £495 pcm.

This produces a gross yield of 7.2% based on a purchase price of £83,000. If purchased with a BTL mortgage with a 25% deposit, you could achieve 18.9% ROCI inclusive of SDLT and sourcing fee.

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

Sourcing fee = £3,000

Stamp duty estimate prior to 31st March 2021– £2,490 (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: £83,000:
Gross yield figure of 7.2% equates to £5,940 annual rent divided by purchase price of £83,000

ROCI illustration is based on:
Purchase price: £83,000 at 25% deposit = £20,750 + £2,490 (SDLT) + £3,000 (sourcing fee) = £26,240
Annual rent: £5,940 pa
Mortgage 2 year discount at 1.54% (Leeds) £984 pa
£5,940 - £984 = £4,956
£4,956 divided by £26,240 = 18.9% ROCI

Planning Information


The Plan

Off-market 3 bed end-terraced property available to purchase.

The Financials:

Purchase price: £83,000
Current value: £100,000
Sourcing fee: £3,000
Rental income: £5,940 pa
ROCE: 18.9%

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 6JH