A substantial multi-income property in the highly desirable semi-rural Newcastle village of Marley Hill has been listed for auction with a guide price of £1 million. Known as Chapel House, the estate comprises a charming two/three-bedroom cottage, four self-contained apartments, a separate one-bedroom cottage, outbuildings, garages, and approximately 0.77 acres of development land.
Current Income and Vacant Possibility
According to Pattinsons estate agents, the property currently generates around £45,600 per annum in rental income. However, all apartments can be offered with vacant possession, providing buyers with the flexibility to re-let, refurbish, convert to serviced accommodation, or explore alternative uses. This combination of immediate income and future flexibility makes it a rare find.
Development Potential
One of the biggest selling points is the development potential. The property has previously benefited from planning approval for a detached dwelling, and the sizeable landholding may offer further opportunities for residential development, conversion of outbuildings, or expansion of existing accommodation, subject to necessary consents. Pattinsons Commercial Auction is handling the sale, emphasizing that this is a rare combination of lifestyle property, investment opportunity, and development prospect.
Location and Accessibility
Chapel House is situated within easy reach of Newcastle, Gateshead, and Durham while enjoying a peaceful countryside setting. The semi-rural location is highly sought after, offering tranquility without sacrificing urban connectivity. The auction is currently live, and interested parties can view the property through the provided gallery.
