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Selling Agent
Sourced Derby

18% ROCE – 3 Bed Mid-Terraced Buy-to-Let in Bishop Auckland

Located in Bishop Auckland, this area has excellent access to main trunk roads and rail links.
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Key Features

  • 3 bed mid-terrace
  • Rear yard with parking
  • Very good condition
  • Gas central heating and UPVC windows
  • 18% ROCE
  • Very close to town centre

The Property

Sourced are proud to present this off-market mid-terraced property with a huge ROCE of 18%.

The property consists of:

• Lounge
• Dining room
• Kitchen
• 3 large bedrooms
• Bathroom
• Gas central heating
• UPVC double-glazing
• Rear yard with parking
• Freehold
• 18% ROCI (see illustration)

The current tenant has resided in the property since December 2019 on a rent of £500 pcm.

If purchased with a BTL mortgage with a 25% deposit, you could achieve 14% ROCI inclusive of SDLT and sourcing fee and 6.9% yield.

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– £2,625 (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: £87,500
Gross yield figure of 6.9% equates to £6,000 annual rent divided by purchase price of £87,500
ROCI illustration is based on:
Purchase price: £87,500 at 25% deposit = £21,875 + £2,625 (SDLT) + £3,000 (sourcing fee) = £27,500
Annual rent: £6,000 pa
Mortgage 2 year discount at 1.54% (Leeds) £1,044 pa
£6,000 - £1,044 = £4,956
£4,956 divided by £27,500 = 18% ROCI

Planning Information


The Plan

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

The Financials:

Purchase price: £87,500
Current value: £115,000
Sourcing fee: £3,000
Rental income: £6,000
ROCE: 18%

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 7JU