Former Queens Head Public House, 35 Front Street, Bishop Auckland, County Durham

Description

This grade two listed property, formerly the Queens Head Public House, is sold with planning permission for conversion into three terraced dwellings and a further property to the rear. Planning reference numbers for Durham planning portal are DM/24/03194/NMB for the building to the rear and DM/22/00239/LB for the pub. The development is set within a popular location with amenities surrounding such as cafes, schools and shops. The area is also served by a public transport bus route for travelling to surrounding areas. This type of purchase would suit an investor looking for a project to finalise and make their own. Buyers are advised to make their own enquiries with the local authority and their solicitors prior to bidding.

Accommodation

Proposed accommodation: 35A—ground floor: entrance lobby, lounge, kitchen and WC; first floor: landing, bedroom and bathroom. 35B—ground floor: entrance lobby, lounge, kitchen and WC; first floor: landing, two bedrooms and bathroom. 35C—ground floor: entrance lobby, open plan living kitchen; first floor: landing, bedroom and bathroom. 35D—ground floor: entrance hall, lounge, WC and dining kitchen; first floor: landing, two bedrooms and bathroom. External: bin store and store.

Location

Set in a popular location with cafes, schools and shops nearby. The area is served by a public transport bus route for travelling to surrounding areas.

Tenure / Property Information

Investment Analysis

The supplied comparables are in West Auckland and comprise different property types, ranging from £60,000 to £360,000. They do not provide a reliable evidence base for valuing this Grade II listed, part-completed conversion into four proposed dwellings. No floor areas, completed-work schedule, condition survey, direct comparable conversions or achieved rental evidence are supplied. GDV and refurbishment costs therefore cannot be established reliably.

Investment Snapshot

Strategy Recommendation

Do not bid on the current evidence alone. Obtain the full planning and listed-building documents, inspect the part-completed works, confirm the four-unit approval remains implementable, obtain a detailed cost plan and secure independent GDV and rental appraisals before bidding.

Works Required

Complete the permitted conversion of the former public house into proposed units 35A, 35B, 35C and 35D, including the specified residential layouts, kitchens, bathrooms, WC facilities and external bin/store areas. Works must comply with the listed-building and planning permissions. The extent and quality of existing completed works are not supplied.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

The BRRR appraisal is not supportable from the evidence. GDV, refurbishment cost, completed-unit rents, finance costs and the extent of existing works are unknown. The £1,800 buyer administration charge is known, but potential seller fees and all development costs remain unquantified. Refinance proceeds and cash left in cannot therefore be calculated.

Buy-to-Let Analysis

A BTL appraisal cannot be established because the property comprises four proposed dwellings, while the only rental evidence is one advertised asking rent of £331 pcm for 31A Front Street. No achieved rents or rent evidence for the proposed units is supplied. The £185,000 guide plus the £1,800 buyer administration charge is before refurbishment and any seller-charged fees, so a meaningful portfolio yield cannot be calculated.

Flip Analysis

A flip appraisal cannot be established reliably. The supplied sales are not direct comparables for a four-unit Grade II listed conversion, and no supported GDV, works budget, selling costs or completion specification is provided. The guide price is £185,000 before the £1,800 administration charge, refurbishment and any applicable seller fees.

Investor Risks & Due Diligence

• Grade II listed status may constrain design, materials and construction methods.

• The development is part-completed, but the extent, quality and compliance of existing works are not supplied.

• The proposed four-unit conversion depends on planning and listed-building permissions referenced in the particulars; implementation and conditions require verification.

• No reliable refurbishment budget or completed-project valuation is provided.

• The single £331 pcm rental listing is an advertised asking rent for another property and cannot establish rents for all four proposed dwellings.

• Parking and heating information requires confirmation from the auction centre.

• The seller may charge additional completion fees under the Special Conditions of Sale.

• The sold comparables are different property types and locations and do not establish a direct GDV.

Recommendation

Do not bid on the current evidence alone. Obtain the full planning and listed-building documents, inspect the part-completed works, confirm the four-unit approval remains implementable, obtain a detailed cost plan and secure independent GDV and rental appraisals before bidding.

Strategy Rating

Analysis Confidence

Planning references, proposed accommodation, guide price, one asking-rent listing, an administration charge and unrelated or varied sales are supplied, but there is no condition survey, floor-area data, detailed cost plan, direct GDV evidence, unit-specific rent evidence or confirmed seller-fee schedule.