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Mill Lane, 5 NG23

East Midlands

£675,000
Listed on 12/09/2025

Property Details

Bedrooms
6
Type
Detached House
Area
3121 sqft

Description

‘Lilac Cottage’ presents an intriguing investment opportunity in the charming village of Normanton-on-Trent, surrounded by expansive rural landscapes. This property benefits from a strong community spirit and offers convenient access to major routes, making it suitable for commuting to Newark, Retford, and Lincoln. The local amenities include a primary school and two pubs, enhancing its appeal for families. Having undergone significant extensions by the current owners, this residence boasts versatile living spaces ideal for multi-generational accommodation or potential rental opportunities. The approach to the property is via a private drive leading to a spacious gravel driveway with sufficient parking for several vehicles and access to an outbuilding. Notably, this outbuilding has received planning permission (2022) for transformation into a two-storey granny flat or assisted living space, increasing its potential value. Set within approximately 0.46 acres of grounds adorned with gardens and offering scenic views across open fields, this home includes an outdoor heated swimming pool—an attractive feature for leisure and entertainment. Inside, the property features a welcoming entrance hallway that leads into a large lounge equipped with a log-burning stove and beamed ceilings. Further rooms include a dual aspect sitting room and a sunroom with a fitted bar area that connects seamlessly to the rear garden. The generous breakfast kitchen is well-appointed with granite work surfaces and modern appliances. A formal dining room with high vaulted ceilings complements the ground floor accommodations which also include a bedroom with an ensuite bathroom. On the first floor, five additional bedrooms provide ample space for family living; several boast ensuite facilities or unique Juliet balconies overlooking the gardens. This individual home requires some updating to meet contemporary standards but holds significant potential for refurbishment to unlock further value.

Investment Analysis

(NG23 area)

Below Market Value

This property is priced -18.1% below area average per sq ft

-18.1%
Potential saving
This Property
£216/sq ft
Area Average
£264/sq ft

Renovation Potential

Medium Refurb
Est. Renovation Cost
£60,000 - £90,000
Target Value
£907,025
10% above area average per sq ft
Potential ROI
+18.6%
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
144%
Properties sold annually

Local Market Trend (NG23)

Area prices are falling by -2.1% over the last 12 months
3 year growth: -7.8%
5 year growth: +13.0%
Investment Disclaimer: Analysis based on NG23 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

Mill Lane, 5 NG23
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Mortgage Calculator

£
£
£
%
%
years

Current average 2-year fixed rate is 4.06%

Current average variable rate is 6.81%

Monthly Repayments
£2,434
Based on a loan of £506,250 over 30 years at 4.06% 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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