Number 17 Waldridge Road, Chester le Street, County Durham, DH2 3AB

Description

Offered for sale by auction is this substantial three bedroom detached property presenting an excellent opportunity for investors or buyers looking for a spacious family home to renovate and add value. The property occupies a generous plot and is conveniently located within easy reach of Chester-le-Street town centre, local amenities, schools and excellent transport links. The accommodation extends to approximately 2,195 sq ft and briefly has an entrance hallway, spacious living room, second reception room, additional reception/snug, a large kitchen/dining room, conservatory, utility room, ground floor WC and a garage. To the first floor are three well sized bedrooms, including a main bedroom with en-suite shower room, together with a generous four-piece bathroom. Externally, the property benefits from a large driveway providing off-road parking for multiple vehicles, an attached garage and a generous enclosed rear garden with patio area. With spacious accommodation, a desirable location and significant scope for refurbishment and improvement, this property offers an excellent opportunity for those seeking a project with strong potential to add value. Please note: there has been a leak in the property from a water tank in the attic.

Accommodation

Approximately 2,195 sq ft comprising entrance hallway, spacious living room, second reception room, additional reception/snug, large kitchen/dining room, conservatory, utility room, ground floor WC and garage. To the first floor are three bedrooms, including a main bedroom with en-suite shower room, and a four-piece bathroom.

Location

Conveniently located within easy reach of Chester-le-Street town centre, local amenities, schools and excellent transport links.

Tenure / Property Information

Investment Analysis

The supplied completed sales are same-road detached freehold comparables ranging from £372,500 to £560,000. The most recent evidence is 13 Waldridge Road at £400,000 in January 2024; the £560,000 sale of 15 Waldridge Road dates from September 2022. No comparable property sizes, conditions or specification details are supplied, so the range is indicative rather than a formal valuation. A base GDV of £480,000 is used as the midpoint of the supplied evidence, with £400,000 low and £560,000 high scenarios.

Investment Snapshot

Strategy Recommendation

Treat as a refurbishment-led value-add opportunity and proceed only after a full survey, leak investigation and firm works quotation. Do not set a maximum bid from the current evidence because refurbishment, resale and rental assumptions are incomplete.

Works Required

Obtain a full building and services survey, investigate and remedy the reported leak from the attic water tank, and cost the refurbishment and improvement works required to the accommodation. The supplied evidence does not establish the condition or scope of any further works.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A potential BRRR case exists if the property can be acquired at or near the £240,000 guide, refurbished within an acceptable budget and achieves a value consistent with the same-road evidence. At the £480,000 base GDV, 75% refinance is approximately £360,000. Cash left in cannot be calculated because refurbishment and total project costs are unsupported.

Buy-to-Let Analysis

BTL analysis cannot be established because no sufficiently specific rental comparables or auctioneer rent estimate are supplied. Refurbishment costs, finance costs and operating costs are also unknown. The £4,200 including VAT admin charge is payable on exchange, with possible additional auction-related costs.

Flip Analysis

The supplied comparables indicate a broad resale value range of £400,000 to £560,000, with a £480,000 base scenario. A flip surplus cannot be calculated because no refurbishment budget, selling allowance, finance cost or other project costs are supplied. The reported water-tank leak and stated refurbishment potential require detailed costing before bidding.

Investor Risks & Due Diligence

• Reported leak from a water tank in the attic may have caused damage; extent and remedy are unknown.

• Refurbishment scope and costs are not evidenced.

• Same-road comparable values vary materially, from £372,500 to £560,000.

• No sufficiently specific rental evidence is available, preventing a supported yield assessment.

• The £4,200 including VAT admin charge applies on exchange and additional search, seller, legal and transfer fees may also arise.

• Finance costs, selling costs and project duration are not supplied.

Recommendation

Treat as a refurbishment-led value-add opportunity and proceed only after a full survey, leak investigation and firm works quotation. Do not set a maximum bid from the current evidence because refurbishment, resale and rental assumptions are incomplete.

Strategy Rating

Analysis Confidence

Same-road completed-sale evidence supports indicative GDV scenarios, but the comparables lack condition and specification details. No rental evidence, refurbishment budget, EPC, services information or complete fee schedule is supplied.