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Long Preston BD23

Yorkshire

£523,500
Listed on 11/09/2024

Property Details

Bedrooms
4
Type
Detached house
Area
2432 sqft

Description

This unique property, dating back to the early 18th century, showcases a blend of historical charm and significant renovation potential. Mearbeck comprises a traditional stone-built main house with four spacious double bedrooms, as well as an attached annexe that offers an additional one or two bedrooms. The layout includes various functional spaces such as a sitting room, dining room, kitchen, and multiple bathrooms, providing ample room for creative reconfiguration. The attractive front garden features a south-facing lawn enclosed by stone walls, while the rear raised garden area boasts expansive views of the scenic landscape. This tranquil setting is particularly appealing for those seeking a family home with the ability to modernize and personalize according to their tastes. Having been held by the same family since 1890, this property has not been available on the open market for over 130 years. Although it requires comprehensive modernization, this presents a rare opportunity for buyers to enhance its character and value. The annexe adds versatility for either multi-generational living or potential rental income after obtaining necessary permissions. Located within the Yorkshire Dales National Park, Mearbeck enjoys a private position while still being conveniently accessible via major roadways and rail links. The nearby village of Long Preston supports a strong community atmosphere and offers essential amenities including shops, schools, and public transport. In addition, the market town of Settle is just three miles away, providing further shopping options and services. The property is freehold and will be offered with vacant possession upon completion. Access is via a private lane that involves third-party ownership rights. Mearbeck benefits from mains electricity and water sourced from a borehole shared with neighboring properties. Heating solutions include electric heating in the main house and oil-fired central heating in the annexe. For investors or families looking for a project in an idyllic rural location, Mearbeck represents an exciting opportunity to create a customized living space in one of Yorkshire’s most picturesque settings. Viewing is highly recommended to fully appreciate its potential and character.

Investment Analysis

(BD23 area)

Below Market Value

This property is priced -27.8% below area average per sq ft

-27.8%
Potential saving
This Property
£215/sq ft
Area Average
£298/sq ft
Avg Rent (weekly)
£247
Avg Yield
3.2%

Renovation Potential

Est. Renovation Cost
£52,350 - £130,875
10-25% of property value
Target Value
£797,611
10% above area average per sq ft
Potential ROI
+21.9%
After renovation
Monthly Sales
30
Average per month
Market Turnover
30%
Properties sold annually

Local Market Trend (BD23)

Area prices are falling by +2.2% over the last 12 months
3 year growth: -1.4%
5 year growth: 7.3%
Investment Disclaimer: Analysis based on BD23 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

Long Preston BD23
Map showing location of Long Preston BD23
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