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See how verdicts work2-bedroom flat · DL16 7FE
For saleListed 13 days
Opportunity summary
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About
44 Lotherton Drive, Spennymore, Durham, DL16 7FE Tenanted Investment Opportunity | £110,000 | 7.0% Gross Yield Investment Summary Pure Investor is delighted to present this well-proportioned two-bedroom ‘coach house’ style apartment.
The property is currently tenanted at £650.00pcm (£7,800.00 per annum), and the property will be sold with the tenant in situ (no onward chain) ensuring immediate rental income to the new owners.
The property is in excellent condition and is currently managed by a local estate agent. The property presents an attractive opportunity for investors seeking an established rental investment.
The current tenant has been reliable and would like to continue their tenancy, providing scope for continuity of rental income following completion.
The property currently generates £650 per calendar month (£7,800 per annum).
Based on the asking price of £110,000, this equates to a gross rental yield of 7.1% (7.1% net) Further benefits include two double bedrooms, a dual-aspect lounge / dining room, a courtyard-style rear garden and allocated parking.
An exceptionally long remaining lease of approximately 962 years, peppercorn ground rent and a stated annual service charge of just £75 add to the investment’s appeal.
Property Features • Two-bedroom coach house style apartment • Two double bedrooms • Reliable tenant in situ who wishes to continue • Current rental income: £650 PCM (£7,800 per annum) • Gross rental yield: 7.0% at the asking price • Freehold property • Dedicated parking space • Property will be sold with tenant in situ • Currently managed by local lettings agents offering a genuine ‘hands free’ investment opportunity • £15 per annum annual grounds maintenance charge (no service charge or ground rent) Investment Information Detail Information Asking Price £110,000 Current Rent £650 PCM Annual Rental Income £7,800 Gross Yield 7.0% net yield Tenure Freehold Occupancy Tenants in situ Tenant Position Reliable current tenant wishes to continue Sale Position No upward chain Leasehold & Management Information The property is freehold and as such there are no annual ground rent or service charge payments.
The only additional fee is a £15 per annum annual maintenance charge.
Location Spennymoor offers an attractive opportunity for buy-to-let investors, thanks to its relatively affordable property prices and strong demand for rental accommodation from local workers and families.
Its proximity to Durham, Bishop Auckland and Newton Aycliffe, alongside access to major employment areas and transport links, makes it a potentially appealing location for investors seeking competitive rental yields and long-term capital growth.
Value & comps
No previous sales on record.
Returns
Set an offer; the calculator follows it.
We're still gathering serviced-accommodation data for this area.
Archie refurb estimate: a Pro feature
0.0% below asking
This is not financial or investment advice. Prop AI Deals is not authorised by the Financial Conduct Authority (FCA) to provide investment advice.
All investment calculators, property analyses, and AI-generated insights are for informational purposes only. Property investment carries risk and may result in financial loss. All calculations should be independently verified and you should consult with FCA-authorised financial advisers before making any investment decisions.
Past performance does not guarantee future results. Tax implications vary by individual circumstances.
Deal
Properties like this can earn 2–3x BTL yields when converted to HMO, with retrofit costs around £10k/room. Sign in to see the full tier, yield projection, and cost breakdown.
Commercial properties like this can earn 30-50% higher yields when converted to residential under Class MA / Q / P / PA, with prior approval costing ~GBP 96/unit. Sign in to see the recommended route, yield uplift, and cost breakdown.
BRRR-suited properties can recycle 80-100% of investor capital on refi, leaving a high-yielding rental with most of the money out. Sign in to see the refurb cost stack, ARV projection, and refinance maths.
Detached + large garden = sub-division play. Pro tier unlocks the tier badge, plot size, uplift estimate, and regional land benchmark.
Short-lease flats trade at deep discount, but extending under the 1993 Act often costs far less than the discount. Pro tier unlocks the tier badge, premium breakdown, long-lease ARV and arbitrage maths.
See projected short-stay revenue vs a vanilla BTL for this property.
See real sub-let margins (HMO room rates & SA nightly rates) vs the landlord rent.
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FAQ
About 44, Lotherton Drive, Spennymoor, Durham
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