What is a Sourced Approved Investment?
These properties have been carefully sourced and packaged by experienced property investment specialists and trusted Sourced Partners.
- Pre-vetted for investment potential
- Due diligence carried out
- Tailored for investor goals
- Backed by Sourced's expertise and network
Key financials
GDV£138,000
Profit£26,000
ROCE54%
Purchase £ £23,250
Property description
Strategy: Conversion
"Darlington High ROCE Investment - Multiple Exits"
We are pleased to present a versatile mixed-use freehold property in Darlington with multiple income and development opportunities. Whether you're looking for a rental-ready investment or a value-add project, this property ticks the boxes and is ideal for investors and/or developers
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ADDRESS: 224 Whessoe Road, Darlington, County Durham, DL3 0QZ
Guide price: £85,000 + £5,000 Fees
144 sqm Internal Area + Garage | Vacant Possession
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Property Overview:
• Ground floor: Former shop/restaurant (51 sqm) with front room, rear kitchen, and utility room
• First floor: 3-bed flat (57 sqm) with separate entrance
• Second floor: Large loft area (36 sqm) with two usable rooms
• Bonus: Rear garage + access, decent-sized backyard
• Total internal area: Approx. 144 sqm + garage – Various potential
• Status: Vacant and habitable, requires minor tidying
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Investment & Development Options:
1. Let as-is (Minimal Work Required):
• Shop/Restaurant: £500/month
• 3-Bed Flat: £650/month
• Total Income: £1,150/month | £13,800/year
2. Convert to 2 Flats (STPP):
• Ground Floor: 1-bed flat
• Upper Floors: 3-bed flat incl. loft
• Potential Rent: £550 + £950 = £1,500/month | £18,000/year
• Commercial refinance potential: ~£180,000
3. Convert to 5-Bed HMO
4. Convert to 4–5 Self-Contained Studios
All figures above are for calculation purposes and applied to the best of our knowledge. Investors are urged to carry out their own due diligence
With generous space and flexible layout, the property is ideal for an astute investor or developer seeking high-yield returns with refinance / resale opportunity
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Summary:
• Freehold
• Vacant with vacant possession
• Multiple exit strategies
• Great location in County Durham
• Garage and rear access included
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Valuation
Next door 4 bed terraced sold at £75k in 2022 and its valuation now is £88k as per Zoopla. This was a much smaller property at 113sqm
https://www.zoopla.co.uk/property/uprn/10003081816/
On the contrary, the property we have offered is 144 sqm and has a shop on the GF with a 3 bed on the 1st floor with a loft that has 2 rooms + Garage
Sourced reference: 142368261644227
Due diligence
No information supplied.
Location
Disclaimer
Sourced endeavour to make our particulars accurate and reliable, however, they do not constitute or form part of an offer or any contract and are not to be relied as statements of representation or fact. The selling agent may or may not be the sole agent and will provide confirmation upon request. Any services, systems and appliances listed in this specification have not been tested by us and no guarantee as to their operating ability or efficiency given. All measurements have been taken as a guide and are not precise, please be aware some of the details may be waiting vendor approval. If you require confirmation or further information, please contact the selling agent. Fixtures and fittings are to be confirmed with the seller and not relied upon when listed. Sourced are not responsible for any loss of monies due to the purchase or purchase process with any property listed.
Key financials
GDV£138,000
Profit£26,000
ROCE54%
Purchase £ £23,250
Sales Agent
Mush Fazel
MJF Property Ltd
Smart support to move your deal forward
Review the numbers
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What is a Sourced Approved Investment?
These properties have been carefully sourced and packaged by experienced property investment specialists and trusted Sourced Partners.
- Pre-vetted for investment potential
- Due diligence carried out
- Tailored for investor goals
- Backed by Sourced's expertise and network