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Lancaster Avenue, Hitchin

East of England

£750,000
Listed on 13/08/2022

Property Details

Bedrooms
3
Type
Semi-detached house
Area
1299 sqft

Description

Situated on a sought-after avenue in Hitchin, this substantial three-bedroom semi-detached home offers a prime opportunity for renovation and potential expansion (subject to planning permission). The property is being sold with no upper chain, making it an appealing option for those looking to invest or create their ideal living space. Constructed in the 1950s, this residence features generous internal dimensions that are both spacious and well-proportioned. A standout element is the welcoming entrance hall, complemented by high ceilings that enhance the airy atmosphere throughout the reception areas and bedrooms. While the home retains plenty of inherent character, it also presents ample scope for modernization, catering to contemporary tastes and lifestyle needs. The property occupies a sizable plot, featuring a rear garden that extends over 200 feet. This expansive outdoor space is ideal for those looking to cultivate their own green oasis or establish a home office or studio away from the main living areas. The level lawn is adorned with various fruit trees, including apple and pear trees, adding not only beauty but also potential for homegrown produce. Hitchin itself is rich in history with its charming medieval architecture, particularly around the market square where you’ll find Tudor and Georgian buildings. Residents appreciate excellent shopping options along with a vibrant selection of restaurants, pubs, and cultural venues such as theatres. Local educational institutions like Hitchin Girls School and Hitchin Boys School are notable highlights in the area. Additionally, with direct train services to Kings Cross and Cambridge from the nearby mainline station, commuting is made convenient. Given the property's desirable location and renovation potential, early viewings are recommended for anyone keen on exploring its investment possibilities.

Investment Analysis

(SG5 area)

Above Market Value

This property is priced +31.3% above area average per sq ft

+31.3%
This Property
£577/sq ft
Area Average
£440/sq ft
Avg Rent (weekly)
£357
Avg Yield
3.8%

Renovation Potential

Est. Renovation Cost
£75,000 - £187,500
10-25% of property value
Target Value
£628,287
10% above area average per sq ft
Potential ROI
-33.0%
After renovation
Monthly Sales
38
Average per month
Market Turnover
60%
Properties sold annually

Local Market Trend (SG5)

Area prices are falling by +2.6% over the last 12 months
3 year growth: 1.7%
5 year growth: 5.2%
Investment Disclaimer: Analysis based on SG5 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

Lancaster Avenue, Hitchin
Map showing location of Lancaster Avenue, Hitchin
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