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Hassock Lane North, Shipley, Heanor - Image 1
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Hassock Lane North, Shipley, Heanor

East Midlands

£450,000
Listed on 19/08/2022

Property Details

Bedrooms
3
Type
Detached house
Area
1377 sqft

Description

This detached bungalow, offering three to four bedrooms, presents a significant opportunity for renovation and redevelopment. Situated on a spacious plot of over one-third of an acre, the property has received planning consent for both substantial extensions and the construction of a new dwelling within its grounds, making it an appealing prospect for developers or self-build enthusiasts. Located in the quaint village of Shipley, this property benefits from an elevated position that provides sweeping views of the surrounding countryside. The setting strikes a balance between peaceful village life and accessibility to larger towns like Ilkeston and Heanor, as well as proximity to Shipley Country Park, which enhances its appeal for potential buyers. The existing bungalow is structurally sound and livable but requires some modernization. It features an entrance porch leading into a generous central hallway. The layout includes a front reception room that could serve as a fourth bedroom, alongside three double bedrooms, bathroom facilities, and a shower room. The rear of the property boasts a sizable family dining kitchen with adjacent utility space and a sitting room that captures lovely views. Outdoor space is also a highlight. The driveway provides ample off-street parking and leads to a garage, while the garden contains tiered areas backing onto paddocks and open fields. There’s potential for creating beautiful outdoor living spaces or even additional structures given the outline planning permissions granted. This property not only opens doors for developers looking to maximize its potential but also offers options for those interested in extending or modernizing their ideal home in an enviable location. Whether you're pursuing ambitious development plans or simply wish to enjoy the charm of this bungalow on its generous plot, this opportunity merits serious consideration.

Investment Analysis

(DE75 area)

Above Market Value

This property is priced +48.0% above area average per sq ft

+48.0%
This Property
£327/sq ft
Area Average
£221/sq ft
Avg Rent (weekly)
£183
Avg Yield
4.5%

Renovation Potential

Medium Refurb
Est. Renovation Cost
£60,000 - £100,000
Target Value
£334,446
10% above area average per sq ft
Potential ROI
-39.2%
After renovation
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
19
Average per month
Market Turnover
14%
Properties sold annually

Local Market Trend (DE75)

Area prices are falling by +4.3% over the last 12 months
3 year growth: 12.4%
5 year growth: 38.6%
Investment Disclaimer: Analysis based on DE75 area averages and may not reflect property-specific factors like condition, exact location, or unique features. Any renovation cost estimates provided are AI-generated and should be considered indicative only. 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

Hassock Lane North, Shipley, Heanor
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Mortgage Calculator

£
£
£
%
%
years

Current average 2-year fixed rate is 4.19%

Current average variable rate is 6.78%

Monthly Repayments
£1,648
Based on a loan of £337,500 over 30 years at 4.19% interest

These results are estimates and are only intended as a guide. Make sure you obtain accurate figures from your lender before committing to any mortgage. Your home may be repossessed if you do not keep up repayments on a mortgage.

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YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE