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Development Plot, Formally "The Lilacs" - Image 1
Development Plot, Formally "The Lilacs" - Image 2
Development Plot, Formally "The Lilacs" - Image 3
Development Plot, Formally "The Lilacs" - Image 4

Development Plot, Formally "The Lilacs"

East Midlands

£490,000
Listed on 05/02/2025

Property Details

Bedrooms
N/A
Type
Detached house

Description

This plot presents a notable redevelopment opportunity located on the charming eastern edge of the village of Brooke, Rutland. The village is characterized by its quaint stone houses and proximity to the historic Church of St. Peter, offering a serene atmosphere while being conveniently close to larger market towns. With Oakham just 2.5 miles away and Uppingham 4.5 miles distant, residents can easily access an array of amenities including shops, cafes, and recreational facilities. The area surrounding Brooke boasts rich educational resources with a selection of reputable state and private schools available for families. Notably, well-regarded institutions can be found in nearby towns, enhancing the area's appeal for families seeking quality education options. For those commuting or traveling, the location benefits from good transport links. The A1 is approximately 12 miles east, providing efficient routes north and south, while the A47 offers access to Peterborough and Leicester. Furthermore, local train services from Market Harborough and Oakham facilitate travel to London in under an hour. The property itself occupies about 0.25 acres and previously housed a single-story dwelling known as “The Lilacs.” Full planning permission has been granted for replacing it with a two-story house, allowing prospective buyers to envision their future residence or investment project here. The approved plans are currently active following two distinct applications: one received approval in February 2020 for demolition and new build under reference 2019/1335/FUL; the second was granted in April 2024 (reference 2024/0260/FUL) for a different design. Situated along a quiet no-through road, the plot offers attractive views over the rolling countryside that surrounds it. Additionally, there may be potential to acquire adjacent land through separate negotiation, further enhancing development possibilities. Access to mains water and electricity is available at the site; however, it is advisable for interested parties to verify these services independently. This property holds significant potential not only as an immediate development opportunity but also as a long-term investment in this sought-after area of Rutland.

Investment Analysis

(LE15 area)
Area Average
£308/sq ft
Avg Rent (weekly)
£224
Avg Yield
2.8%

Renovation Potential

Est. Renovation Cost
£49,000 - £122,500
10-25% of property value
Monthly Sales
27
Average per month
Market Turnover
11%
Properties sold annually

Local Market Trend (LE15)

Area prices are stable by +1.6% over the last 12 months
3 year growth: 12.8%
5 year growth: 13.1%
Investment Disclaimer: Analysis based on LE15 area averages and may not reflect property-specific factors like condition, exact location, or unique features. Renovation costs vary significantly based on property condition and scope of work. Always conduct professional surveys and get multiple quotes before making investment decisions.

Location

Development Plot, Formally "The Lilacs"
Map showing location of Development Plot, Formally "The Lilacs"
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