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Maud Foster Mill, Willoughby Road

East of England

£549,950
Listed on 31/01/2025

Property Details

Bedrooms
3
Type
Detached house

Description

This historic Grade I listed windmill, originally constructed in 1819, stands as a distinctive piece of Boston's heritage, situated along the picturesque banks of the Maud Foster. The property offers a unique blend of residential and commercial space—currently functioning as both a home and a thriving business. The windmill features seven stories and five sails, showcasing its operational capacity while presenting an appealing canvas for renovation. Presently, the ground floor accommodates two workshops, with the first floor previously utilized as a café. With an innovative approach and potential planning permissions (subject to local authority consent), there is significant opportunity to expand or repurpose these spaces. This could include transforming the mill into a wedding venue, guesthouse, or restaurant, enhancing its commercial prospects further. The upper levels reveal a charming loft-style penthouse that features three well-appointed bedrooms, each reflecting the property’s character and history. This living space not only provides comfort but also allows for creative redesign to enhance both personal enjoyment and rental appeal. Additionally, the property's outdoor space includes a rear garden and ample parking at the front, catering to both residents and visitors alike. Whether you envision maintaining its current dual purpose or pursuing new ventures within this iconic structure, this property represents a compelling investment opportunity for those ready to preserve its legacy while adapting it for modern use. This beloved windmill is now looking for new stewardship to embrace its next chapter. Viewings are available by appointment through Bruce Mather Estate Agents.

Investment Analysis

(PE21 area)
Area Average
£187/sq ft
Avg Rent (weekly)
£180
Avg Yield
4.9%

Renovation Potential

Medium Refurb
Est. Renovation Cost
£100,000 - £200,000
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
37
Average per month
Market Turnover
12%
Properties sold annually

Local Market Trend (PE21)

Area prices are rising by +3.6% over the last 12 months
3 year growth: 6.8%
5 year growth: 23.0%
Investment Disclaimer: Analysis based on PE21 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

Maud Foster Mill, Willoughby Road
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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
£2,015
Based on a loan of £412,462 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