The windmill in the colour painting was the one that stood on Bucks Hill and the view is looking more or less north. The buildings on the far side of the water were probably The Brown Bear Inn which stood close to the waters edge and is of course long since gone.
https://www.flickr.com/photos/51893012@N05/10216194174/sizes/l/Bucks Hill Mill was brought from the south by the Hodgsons, and Bucks Hill Mill and Hodgsons Mill were two different mills in two separate locations, though close together and separated by a gut and stream.
The Hodgsons sold the mill to the Avery family of North Shields and at some point in time after that, there was a dispute over the lease and Marlow Sidney who's land the mill stood on, wanted it removed from Bucks Hill. The mill was slid off the Sidney land, like launching a ship, by shipwrights to the water's edge which belonged to the Croft Estate where the mill stood until it was demolished in 1870. The Averys had the oak timbers taken to North Shields and made furniture from the wood. The central post of the mill bore the date 1630.
I have no idea where the mill came from originally. Only that it came from the south.
The painting obviously predates 1870 hence the differences between what buildings stood on the opposite side of the river back then in comparison to later times.
I shall go rummage through my old maps and see if I can find one which shows both mills extant at the same time.
P