Worst House on the Street Logo
Iwood Lane, Rushlake Green TN21 - Image 1
Iwood Lane, Rushlake Green TN21 - Image 2
Iwood Lane, Rushlake Green TN21 - Image 3
Iwood Lane, Rushlake Green TN21 - Image 4
Iwood Lane, Rushlake Green TN21 - Image 5

Iwood Lane, Rushlake Green TN21

South East

£850,000
Listed on 07/03/2024

Property Details

Bedrooms
4
Type
Detached house
Area
1771 sqft

Description

Nestled within the picturesque High Weald Area of Outstanding Natural Beauty, this property offers a tranquil setting off a quiet country lane. Positioned conveniently between the charming villages of Rushlake Green and Cowbeech, both approximately 1.7 and 1.8 miles away respectively, it provides an ideal location for those seeking rural peace while remaining accessible to local amenities. Originally part of a larger agricultural estate purchased by the vendor's family in 1966, this detached chalet bungalow has a rich history, having once accommodated dairy operations early in its life. Unfortunately, due to recent flood damage from internal water pipes, the bungalow is currently uninhabitable and stands in need of significant renovation or potential replacement (subject to obtaining necessary permissions). The existing structure features brick and timber-clad elevations beneath a concrete tile roof and includes key spaces such as a sitting room flowing into a garden room, a kitchen/breakfast area with practical storage solutions, and four bedrooms across two levels. The surrounding grounds provide ample opportunity for landscaping and outdoor enhancement. The expansive garden comprises mostly lawned areas adorned with diverse trees and shrubs, complete with a serene pond. Additionally, approximately 24.58 acres of Grade 3 agricultural land accompanies the property—offering roughly 20.58 acres of pasture alongside 4 acres of woodland that includes stream frontage along its eastern boundary. Investment potential is amplified by the presence of various agricultural outbuildings that have fallen into disrepair but possess considerable scope for renovation or repurposing (again, subject to necessary permissions). Notable structures include a pole barn and a former rotary milking parlour—both equipped with concrete floors—and several versatile storage spaces that could serve new functions. With an Agricultural Occupancy Condition (AOC) in place, the property's future may be directed toward accommodating those employed in agriculture or forestry, which adds an interesting dimension for prospective buyers aiming to develop or utilize the property within these guidelines. It is worth noting that there is also an overage provision that would apply for any planning permissions granted for expanded residential development or commercial use. For those looking for a substantial project surrounded by nature’s beauty, this property represents an endeavor filled with potential—awaiting creative vision to restore its charm and functionality while benefiting from its exceptional rural setting.

Investment Analysis

(TN21 area)

Above Market Value

This property is priced +23.6% above area average per sq ft

+23.6%
This Property
£480/sq ft
Area Average
£388/sq ft
Avg Rent (weekly)
£292
Avg Yield
2.4%

Renovation Potential

Est. Renovation Cost
£85,000 - £212,500
10-25% of property value
Target Value
£756,350
10% above area average per sq ft
Potential ROI
-28.8%
After renovation
Monthly Sales
21
Average per month
Market Turnover
31%
Properties sold annually

Local Market Trend (TN21)

Area prices are stable by +0.8% over the last 12 months
3 year growth: -7.5%
5 year growth: 12.4%
Investment Disclaimer: Analysis based on TN21 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

Iwood Lane, Rushlake Green TN21
Map showing location of Iwood Lane, Rushlake Green TN21
Open Map