2-bedroom flat · DH9 8EU
Let agreedListed 75 days · slow let
Opportunity summary
See Archie’s verdict, returns by strategy and what to check before viewing.
About
Summary Pattinson Estate Agents are pleased to welcome to the rental market this spacious two-bedroom ground floor flat situated within Hobsons Buildings, Stanley.
Offering generously proportioned accommodation throughout, the property is well suited to a range of tenants seeking convenient ground floor living.
The property benefits from an open plan lounge and kitchen/dining area, separate utility room, enclosed rear courtyard and allocated parking for one vehicle.
The accommodation briefly comprises an entrance hallway, spacious open plan lounge and kitchen/diner, utility room, two bedrooms and a family bathroom.
Externally, there is an enclosed, low maintenance rear courtyard with gated access to the rear lane together with allocated parking for one vehicle.
The property is situated within Stanley and offers convenient access to a range of local amenities including shops, supermarkets, schools and leisure facilities.
There are good transport links to surrounding areas including Consett, Chester-le-Street, Durham and Newcastle via the A693 and A1(M).
Tenant Referencing Criteria: Pattinson will undertake referencing checks on all applicants over the age of 18 wishing to move into a rental property.
As part of this process, we will undertake: - A credit check to ensure each applicant does not have any adverse credit such as CCJs (County Court Judgements).
- An affordability assessment to ensure applicant's income will sufficiently cover the rental payments.
- To pass the affordability check, each applicant's gross annual basic income (including benefits and pensions) must be at least 30 times the monthly rental amount (36 times for Ellinson properties).
Eg If the rent is 500 pcm, applicants would need to earn 15,000 as an annual pension or basic salary (excluding commission/bonus) before tax or other deductions were made.
- Each applicant's affordability is assessed individually against the criteria. - Self- will require an accountant's reference and should have accounts for a minimum of two years.
Net profit will be assessed against the affordability requirement of 30 times the monthly rental amount. - Employment checks to confirm your start date, salary and if your position is permanent.
- Homeownership checks (only if you are a homeowner) confirming your mortgage payments are up to date.
- A Landlord reference (if you are currently residing in rented accommodation) confirming you have abided by the terms of the lease.
This will check that the rent was paid on time and in full, there was no antisocial behaviour and the property was looked after in an appropriate manner. - Right to rent' id checks.
If you do not meet the requirement, you will require A homeowner guarantor. Council Tax Band: A Deposit: 634.62 Entrance Hallway Accessed via a part glazed UPVC entrance door with laminate flooring.
Kitchen / Diner (4.56m x 4.17m) Fitted with a range of wall and base units incorporating roll top work surfaces with tiled splashbacks and an inset stainless steel sink.
Integrated electric oven with four ring electric hob and extractor hood above. Space for a freestanding fridge/freezer. Double glazed window to the front elevation and laminate flooring.
Open plan into the lounge. Lounge (5.84m x 4.76m) A spacious reception room open plan to the kitchen/dining area creating an excellent living space. Laminate flooring and gas central heating radiator.
Doors provide access to the utility room, both bedrooms and the inner hallway leading to the family bathroom and rear entrance.
Utility Room (2.04m x 1.34m) Fitted with plumbing for a washing machine and vinyl flooring.
Bedroom One (2.97m x 4.01m) Double bedroom with double glazed window to the rear elevation, gas central heating radiator and laminate flooring.
Bedroom Two (3.95m x 1.69m) Well proportioned second bedroom with gas central heating radiator and laminate flooring.
Bathroom Fitted with a white suite comprising pedestal wash hand basin, panelled bath with mains fed shower over, heated towel radiator and vinyl flooring. Double glazed window to the side elevation.
The walls are finished with cladding and the combination boiler is housed within the room. External To the rear is an enclosed, low maintenance courtyard with gated access onto the rear lane.
The property also benefits from allocated parking for one vehicle.
Value & comps
No previous sales on record.
Rental comparables are shown in the Rental section below. Sold comparables remain for area capital context only.
Returns
We're still gathering serviced-accommodation data for this area.
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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.
Area
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FAQ
About 2 Excelsior House, Hobsons Buildings, Stanley
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