Post your one million pound house here

[sarahbell]

On 23/12/2023 at 19:43, spunko said:

I'd want the 7 acres included at this price. 

https://www.rightmove.co.uk/properties/131946725#/?channel=RES_NEW

Awful staircase. Couldn't live with that 

[spygirl]

Hi properdee bros.

Time to dive in.

https://assets.reapit.net/asb/live/pdf.php?p=TAV230260&t=S

304-308 Norton Road, Stockton-On-Tees, TS20 2PU
ARE YOU LOOKING FOR A RECENTLY REFURBISHED HMO? LOOK NO FURTHER THAN THIS
COMMERCIAL DEVELOPMENT IN STOCKTON-ON-TEES...
This commercial building comprises of 30 rooms, 39 WCs/ Bathrooms, 3 communal areas
and 3 kitchens. Norton Road is located in the popular area of Stockton-On-Tees, which is
known for its high return in investments.
This property is within close proximity to the University of Durham with a 5-minute
commute. It also benefits from multiple bus routes for students, and transport links for
professionals making this a prime location to rent. With a HMO approved licence acquired
and planning permission in place to turn it into a residential home, this property is not one
to be missed.
All rooms are currently being let for £375PCM. Your NET annual take home (after bills and
management have been deducted) would be £95,580 PA / £7,965 PCM. This gives you a
return of 8.5% at asking price.
*Please note if you are purchasing with a mortgage, you will have a further mortgage
payment to deduct from the above figures. At Ashbrookes we include a CAP into the bills
of £20 per week per room which has been calculated in the NET figures, this clause is
included in the tenants’ contracts and recharged back to them if they go over their monthly
spend cap.*

 

10/04/2019	£320,000	304 - 308, Norton Road, Stockton-On-Tees, TS20 2PU
30/07/2007	£284,000	314 Norton Road, Stockton-On-Tees, TS20 2PU
24/05/2004	£190,000	314 Norton Road, Stockton-On-Tees, TS20 2PU
14/07/1995	£75,000	304 - 308, Norton Road, Stockton-On-Tees, TS20 2PU

[One percent]

1 minute ago, spygirl said:

Hi properdee bros.

Time to dive in.

https://assets.reapit.net/asb/live/pdf.php?p=TAV230260&t=S

304-308 Norton Road, Stockton-On-Tees, TS20 2PU
ARE YOU LOOKING FOR A RECENTLY REFURBISHED HMO? LOOK NO FURTHER THAN THIS
COMMERCIAL DEVELOPMENT IN STOCKTON-ON-TEES...
This commercial building comprises of 30 rooms, 39 WCs/ Bathrooms, 3 communal areas
and 3 kitchens. Norton Road is located in the popular area of Stockton-On-Tees, which is
known for its high return in investments.
This property is within close proximity to the University of Durham with a 5-minute
commute. It also benefits from multiple bus routes for students, and transport links for
professionals making this a prime location to rent. With a HMO approved licence acquired
and planning permission in place to turn it into a residential home, this property is not one
to be missed.
All rooms are currently being let for £375PCM. Your NET annual take home (after bills and
management have been deducted) would be £95,580 PA / £7,965 PCM. This gives you a
return of 8.5% at asking price.
*Please note if you are purchasing with a mortgage, you will have a further mortgage
payment to deduct from the above figures. At Ashbrookes we include a CAP into the bills
of £20 per week per room which has been calculated in the NET figures, this clause is
included in the tenants’ contracts and recharged back to them if they go over their monthly
spend cap.*

 

10/04/2019	£320,000	304 - 308, Norton Road, Stockton-On-Tees, TS20 2PU
30/07/2007	£284,000	314 Norton Road, Stockton-On-Tees, TS20 2PU
24/05/2004	£190,000	314 Norton Road, Stockton-On-Tees, TS20 2PU
14/07/1995	£75,000	304 - 308, Norton Road, Stockton-On-Tees, TS20 2PU

Eight percent return for all that hassle. It doesn’t take into account maintenance, voids and when the druggies you house kick off and wreck the place.   Best just stick it in the bank.  

[spygirl]

Theres a 200 fee per room, good for 5y - 6k

Then theres the ctax which LL will pay.

Gross income 375 * 12 * 30 = 99k

They are claiming net of £95,580, which is nuts.

Ctax and utils will be massive - 10/15k ctax alone, plus another ~3k/house utils.

So will voids.

[Pip321]

9 hours ago, spygirl said:

Hi properdee bros.

Time to dive in.

https://assets.reapit.net/asb/live/pdf.php?p=TAV230260&t=S

304-308 Norton Road, Stockton-On-Tees, TS20 2PU
ARE YOU LOOKING FOR A RECENTLY REFURBISHED HMO? LOOK NO FURTHER THAN THIS
COMMERCIAL DEVELOPMENT IN STOCKTON-ON-TEES...
This commercial building comprises of 30 rooms, 39 WCs/ Bathrooms, 3 communal areas
and 3 kitchens. Norton Road is located in the popular area of Stockton-On-Tees, which is
known for its high return in investments.
This property is within close proximity to the University of Durham with a 5-minute
commute. It also benefits from multiple bus routes for students, and transport links for
professionals making this a prime location to rent. With a HMO approved licence acquired
and planning permission in place to turn it into a residential home, this property is not one
to be missed.
All rooms are currently being let for £375PCM. Your NET annual take home (after bills and
management have been deducted) would be £95,580 PA / £7,965 PCM. This gives you a
return of 8.5% at asking price.
*Please note if you are purchasing with a mortgage, you will have a further mortgage
payment to deduct from the above figures. At Ashbrookes we include a CAP into the bills
of £20 per week per room which has been calculated in the NET figures, this clause is
included in the tenants’ contracts and recharged back to them if they go over their monthly
spend cap.*

 

10/04/2019	£320,000	304 - 308, Norton Road, Stockton-On-Tees, TS20 2PU
30/07/2007	£284,000	314 Norton Road, Stockton-On-Tees, TS20 2PU
24/05/2004	£190,000	314 Norton Road, Stockton-On-Tees, TS20 2PU
14/07/1995	£75,000	304 - 308, Norton Road, Stockton-On-Tees, TS20 2PU

Holy crap,  I can’t believe this is real. Super example…thanks for posting  

I invested in property for 30 years (rentals and development)…..this is absolutely the very very last thing I would have ever considered. It’s all about the asset and never about a made up yield. 

£320k in 2019, now that polished turd is asking £1.125m. If they sell it then it will be a lesson in how to make money…..but not for the buyer.

Would be good to track this on street view as it deteriorates into something worth £200k, like a dilapidated old hotel on a Northern Beach front.

[One percent]

3 minutes ago, Pip321 said:

Holy crap,  I can’t believe this is real. Super example…thanks for posting  

I invested in property for 30 years (rentals and development)…..this is absolutely the very very last thing I would have ever considered. It’s all about the asset and never about a made up yield. 

£320k in 2019, now that polished turd is asking £1.125m. If they sell it then it will be a lesson in how to make money…..but not for the buyer.

Would be good to track this on street view as it deteriorates into something worth £200k, like a dilapidated old hotel on a Northern Beach front.

We don’t have any of those. The wessies buy them all up, living the dream and all that.  They then try and sell to each other, north of half a million.  Only thing is, the greater fools seem to have disappeared. 
 

 

[Loki]

10 hours ago, spygirl said:

Hi properdee bros.

Time to dive in.

https://assets.reapit.net/asb/live/pdf.php?p=TAV230260&t=S

304-308 Norton Road, Stockton-On-Tees, TS20 2PU
ARE YOU LOOKING FOR A RECENTLY REFURBISHED HMO? LOOK NO FURTHER THAN THIS
COMMERCIAL DEVELOPMENT IN STOCKTON-ON-TEES...
This commercial building comprises of 30 rooms, 39 WCs/ Bathrooms, 3 communal areas
and 3 kitchens. Norton Road is located in the popular area of Stockton-On-Tees, which is
known for its high return in investments.
This property is within close proximity to the University of Durham with a 5-minute
commute. It also benefits from multiple bus routes for students, and transport links for
professionals making this a prime location to rent. With a HMO approved licence acquired
and planning permission in place to turn it into a residential home, this property is not one
to be missed.
All rooms are currently being let for £375PCM. Your NET annual take home (after bills and
management have been deducted) would be £95,580 PA / £7,965 PCM. This gives you a
return of 8.5% at asking price.
*Please note if you are purchasing with a mortgage, you will have a further mortgage
payment to deduct from the above figures. At Ashbrookes we include a CAP into the bills
of £20 per week per room which has been calculated in the NET figures, this clause is
included in the tenants’ contracts and recharged back to them if they go over their monthly
spend cap.*

 

10/04/2019	£320,000	304 - 308, Norton Road, Stockton-On-Tees, TS20 2PU
30/07/2007	£284,000	314 Norton Road, Stockton-On-Tees, TS20 2PU
24/05/2004	£190,000	314 Norton Road, Stockton-On-Tees, TS20 2PU
14/07/1995	£75,000	304 - 308, Norton Road, Stockton-On-Tees, TS20 2PU

@Stuey

Here is a chance to show the doubters who didn't take your sage advice

Edited December 28, 2023 by Loki

[Stuey]

9 hours ago, Pip321 said:

Holy crap,  I can’t believe this is real. Super example…thanks for posting  

I invested in property for 30 years (rentals and development)…..this is absolutely the very very last thing I would have ever considered. It’s all about the asset and never about a made up yield. 

£320k in 2019, now that polished turd is asking £1.125m. If they sell it then it will be a lesson in how to make money…..but not for the buyer.

Would be good to track this on street view as it deteriorates into something worth £200k, like a dilapidated old hotel on a Northern Beach front.

 

9 hours ago, Loki said:

@Stuey

Here is a chance to show the doubters who didn't take your sage advice

Norton Road is horrific, nose-to-tail traffic twice-a-day for two hours each, plus on several bus routes. The pollution, noise and access would be awful. Plus it's opposite a "convenience store" so you'd have unruly sorts hanging around at all hours. Pass. 

[Pip321]

2 hours ago, Stuey said:

 

Norton Road is horrific, nose-to-tail traffic twice-a-day for two hours each, plus on several bus routes. The pollution, noise and access would be awful. Plus it's opposite a "convenience store" so you'd have unruly sorts hanging around at all hours. Pass. 

Whilst I absolutely don’t like to generalise because it’s rude……I would say ‘all Stockton is shit’ 😂😂😂

I went there (work visit) about 8 years ago and there were 4/5 groups of black guys…speaking foreign language and with bmx bikes. From gentle North Yorkshire I had never seen this before.  

I mentioned it to the office manager (gently because it was a really woke business and she was very professional) and to my astonishment she said that they take them off the ferry, give them a mobile phone, a bike, a tracksuit and send them to Stockton.

I remember thinking ‘imagine leaving the African plains, the heat, the natural way of life (ignoring the geopolitical mess, murder etc) but imagine that physical environment and ending up in the pissing rain in Stockton. 😂

[spygirl]

14 hours ago, Pip321 said:

Holy crap,  I can’t believe this is real. Super example…thanks for posting  

I invested in property for 30 years (rentals and development)…..this is absolutely the very very last thing I would have ever considered. It’s all about the asset and never about a made up yield. 

£320k in 2019, now that polished turd is asking £1.125m. If they sell it then it will be a lesson in how to make money…..but not for the buyer.

Would be good to track this on street view as it deteriorates into something worth £200k, like a dilapidated old hotel on a Northern Beach front.

Googling it was a care home.

The quoted rent is ~20/w higher than the Stocktons LHA for a bedsit.

I cna only assume they are pitching it at students.

UniDurham mothballed the Stocton campus a few years back.

 

 

 

 

I assume it clsoed and was bought for redevelopment change od use in 2019.

 

[spygirl]

3 hours ago, Pip321 said:

Whilst I absolutely don’t like to generalise because it’s rude……I would say ‘all Stockton is shit’ 😂😂😂

I went there (work visit) about 8 years ago and there were 4/5 groups of black guys…speaking foreign language and with bmx bikes. From gentle North Yorkshire I had never seen this before.  

I mentioned it to the office manager (gently because it was a really woke business and she was very professional) and to my astonishment she said that they take them off the ferry, give them a mobile phone, a bike, a tracksuit and send them to Stockton.

I remember thinking ‘imagine leaving the African plains, the heat, the natural way of life (ignoring the geopolitical mess, murder etc) but imagine that physical environment and ending up in the pissing rain in Stockton. 😂

To be honest, until 20y ago neither had the residents of Stockton.

Gt Boror used to be one of the whitest British areas going til about mid 2000s.

 

 

[spygirl]

https://www.gazettelive.co.uk/news/teesside-news/norton-restaurant-price-tag-slashed-28345844

The price of a premier grill restaurant put on the market just months after it first opened has been slashed again.

The "North-east's finest steakhouse", Meet At 12, went up for sale with Parker Barras for a whopping £1m in May. The now-closed Norton venue was then knocked down to £750,000 in June and was slashed by a further £75,000 in August.

The restaurant, just off the High Street, has now been further reduced by £225k and is now up for grabs for £450,000, according to the Rightmove listing. Meet At 12 was first announced to be taking over the former 12 Harland Place in June last year, with the website going live in August.

 

Previously known for its "stylish" cocktails and a rooftop terrace with a view, the venue has a 3.6-star rating on Google Reviews, with fans praising the "fantastic" decor and the "terrific" food. The "authentic Spanish charcoal grill" is owned by businessman Barry Faulkner, who also owns a number of other Teesside venues.

[spygirl]

You want out of a commercial ease then you *PAY* someone.

 

[spygirl]

'It's unfeasible to continue': Norton restaurant owner 'presses pause' on business

Barry Faulkner was already forced to close eatery Scrann in January and has listed two of his businesses for sale

https://www.gazettelive.co.uk/news/teesside-news/its-unfeasible-continue-norton-restaurant-27036614

2017:

Inside the future sky bar: Barry Faulkner shows us around Centre North East

Businessman who is behind some of Teesside’s most popular restaurants and bars reveals what he has planned

https://www.gazettelive.co.uk/whats-on/food-drink-news/inside-future-sky-bar-barry-12651677

2015:

Barry Faulkner's home for sale - take a look inside ex-Empire boss's property

Listed Great Ayton property currently on the market :: 'House decor reflects former Empire nightclub boss's personality', says estate agent

https://www.gazettelive.co.uk/news/teesside-news/barry-faulkners-home-sale---8624527

2019:

INTERIOR INSPIRATION: NOT GOING OUT

Barry Faulkner’s life has been big on parties. The bar and nightclub owner is no stranger to the high life and without doubt his home is a reflection of a lavish lifestyle.

https://luxe-magazine.co.uk/2019/03/interior-inspiration-not-going/

 

2002:

A MIDDLESBROUGH nightclub owner who once wined and dined Charlie Kray has signalled his intention to stand as a candidate to become the town's first elected mayor.

However, Barry Faulkner, 53, said yesterday: "I'm no gangster," when asked about his links to the London crime family.

Mr Faulkner, who owns the Empire nightclub and the Box Office bar, in Corporation Road, said: "I decided to stand because I know I could do a lot better than the other people who have put up for it.

"It may go against me being a nightclub owner, but anyone who knows me knows that I am not a gangster. I am down to earth. I can't stand there and talk politics all day, but it's about common sense."

 

The divorced father-of-four, who has lived in Middlesbrough all his life and has owned nightclubs for the past 22 years, was hit by scandal in 1990 when he took Charlie Kray - elder brother of the Kray twins - out for a night on the town and paid the bill.

However, Mr Faulkner said he has nothing to hide about his past.

"All it was, was a friend of mine who I'd met coming up for a weekend. He came up and brought with him his friend, who was Charlie Kray. I never met him before and never saw him again. He was an absolute gentleman."

After the incident, Mr Faulkner was refused a public entertainment licence by Middlesbrough Council and has never held one in his own name since.

His mayoral ambitions as an independent candidate were, he said, fuelled by a disillusionment with the other contenders, including former Middlesbrough CID boss Ray Mallon.

https://www.thenorthernecho.co.uk/news/7083941.owner-nightclub-stand-mayor/

[spygirl]

Just over.

And another chunky ticket place up for sale.

No chance

I used to think it was a Castle.

I do actually really like the house. But it's right on road.

https://www.thescarboroughnews.co.uk/lifestyle/homes-and-gardens/inside-this-iconic-yet-versatile-million-pounds-building-for-sale-in-scarborough-4487697

@One percent

 

[One percent]

Just now, spygirl said:

Just over.

And another chunky ticket place up for sale.

No chance

I used to think it was a Castle.

I do actually really like the house. But it's right on road.

https://www.thescarboroughnews.co.uk/lifestyle/homes-and-gardens/inside-this-iconic-yet-versatile-million-pounds-building-for-sale-in-scarborough-4487697

@One percent

 

I saw that. I thought it was some kind of hotel. It apparently dates back a long time. It’s split into three.  All three are included in the sale.  Just rent it out innit.