Land at Hartley Cleugh Farm, West Allendale, Hexham, Northumberland, NE47 8AW

Description

Traditional stone-built barn conversion opportunity in a rural position in Carrshield, with full planning permission for the conversion and extension of two existing stone barns to form a single two-bedroom dwelling.

Accommodation

The proposed scheme includes conversion of the main barn to provide the principal living accommodation, together with an extension linking the existing structures and creating a residential layout over two floors.

Location

Rural position in the village of Carrshield, surrounded by the countryside of the West Allen Valley. Nearby Allendale provides everyday amenities, and Hexham provides shops, restaurants, leisure facilities and transport links.

Tenure / Property Information

Investment Analysis

The evidence supports a broad provisional completed-value range of £350,000 to £467,500, based on five completed sales in the same Carrshield postcode. However, the comparables are detached/other properties with no supplied bedroom, size, condition or specification details, so their applicability to this proposed two-bedroom barn conversion is limited. A provisional base GDV of £400,000 is used for scenario analysis only, not as a formal valuation.

Investment Snapshot

Strategy Recommendation

Investigate as a planning-led development opportunity only after reviewing the full planning consent and legal pack, obtaining an independent contractor or quantity-surveyor build-cost assessment, and confirming all special-condition costs. Do not rely on the apparent guide-to-GDV margin without those checks.

Works Required

Convert and extend the two existing stone barns into one two-bedroom dwelling, including the approved residential layout over two floors, principal living accommodation in the main barn and the linking extension. The evidence does not provide sufficient detail to specify structural, services, finishes or external works.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £68,000 guide, the known £3,600 administration charge and any further legal, search, seller-cost, transfer or other special-condition charges would be payable in addition. The 75% refinance illustration on the provisional £400,000 GDV is £300,000, but total project cost is unavailable because no build-cost estimate or full fee schedule is supplied. BRRR feasibility therefore remains unconfirmed.

Buy-to-Let Analysis

The only rental evidence is an advertised asking rent of £907 pcm for another two-bedroom property in Allendale, not achieved rent for this scheme. This implies an indicative gross yield of 16.01% on the £68,000 guide before construction, finance, fees, management, maintenance and voids. A meaningful BTL return cannot be established until build costs and the completed property's specification and letting evidence are confirmed.

Flip Analysis

The provisional GDV scenarios range from £350,000 to £467,500 using local completed sales, but the comparables are not sufficiently detailed to establish a reliable resale value for this specific scheme. No refurbishment or construction cost has been supplied, and no selling allowance is evidenced, so a flip surplus cannot be calculated.

Investor Risks & Due Diligence

• Construction and refurbishment costs are not supplied, preventing a reliable total-cost or profit calculation.

• The local sold comparables do not include supplied bedroom, floor-area, condition or specification details and may not be directly comparable.

• The £907 pcm figure is an advertised asking rent for another property, not achieved rent for the proposed dwelling.

• Additional special-condition charges may include search fees, seller costs, legal fees, transfer fees, buyer premiums and disbursements, but amounts are not supplied.

• Tenure is stated as subject to the legal pack and has not been confirmed.

• Planning permission is stated, but the consent, conditions and implementation requirements have not been supplied.

• The site is a rural development opportunity, and the evidence does not establish market demand or resale liquidity for the completed dwelling.

Recommendation

Investigate as a planning-led development opportunity only after reviewing the full planning consent and legal pack, obtaining an independent contractor or quantity-surveyor build-cost assessment, and confirming all special-condition costs. Do not rely on the apparent guide-to-GDV margin without those checks.

Strategy Rating

Analysis Confidence

There is useful local sold-price evidence, full planning permission is stated and one indicative two-bedroom asking rent is available, but the comparables lack specification details and there are no construction costs, completed-property particulars, full planning conditions, tenure details or complete fee schedule.