The Hermitage, Chester Le Street, DH2 3RG

Property Overview

The Hermitage, Chester Le Street, DH2 3RG is a two-bedroom leasehold mid-terrace house within the west wing of a Grade 2 listed mansion. The property was formerly the show house for The Hermitage Estate and has views over the estate grounds and woodland.

Accommodation

• Ground floor: Entrance Hall, Lounge/Dining Room and Kitchen.
• First floor: Two Bedrooms, En Suite Bathroom/WC and En Suite Shower Room/WC.
• The master bedroom includes a raised dressing area.
• Gas central heating via radiators.

Location

The property forms part of The Hermitage mansion, which is set in approximately 70 acres of park and woodland. The mansion was constructed at the turn of the 19th Century and has been converted into a limited number of houses and apartments.

Tenure & Key Information

• Tenure: Leasehold.
• Lease term: 189 years from 1 January 1999.
• Ground rent: £150pa until 2032.
• Service charge: £5043.
• EPC: D.
• Council Tax: Band F.
• Seller advises mains gas, electricity, water and sewerage. Services have not been tested.
• Occupancy status: Not specified.

Auction & Buyer Charges

• Auction date: 30 September 2026.
• Guide price: £165,000+.
• Auction administration fee: £2,400 including VAT (£2,000 + VAT).
• Option 2 terms require a £3,000 deposit, which comes off the purchase price.
• The buyer premium and auction time were not supplied.

Investment Analysis

HB estimate only: based on the £165,000+ guide price and the limited rental evidence supplied, the estimated gross yield is approximately 7.3%. This is before leasehold costs, vacancy, maintenance, finance and the £2,400 administration fee.

No reliable market value, GDV, refurbishment estimate or maximum bid can be established from the supplied evidence. The guide price is not evidence of achieved value and may not represent the final purchase price.

Sold Comparables

No HM Land Registry completed sales or other sale comparables were supplied. Market value is therefore unverified.

Rental Evidence

• Advertised asking rent: £1,000 pcm for a nearby two-bedroom terraced property at Pine Street, Pelton, Chester Le Street, DH2 3LX.
• This is advertised asking rent, not achieved or passing rent, and provides a limited HB rent indication only.
• No auctioneer estimated rent was supplied.

Strategy & Risks

HB estimate: treat this as a potential rental purchase only if inspection, lease review and due diligence support the guide price. Do not set a firm maximum bid from the supplied evidence.

• No completed sale comparables were supplied.
• The single nearby advertised rent may not be directly comparable and is not an achieved rent.
• Property condition and any refurbishment requirement are unknown.
• Lease terms, ground rent and service charge should be reviewed carefully.
• Occupancy status is unspecified, creating uncertainty over vacant possession and income timing.
• The £2,400 including VAT auction administration fee must be allowed for in the total acquisition cost.