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School Lane, Little Melton

East of England

£725,000
Listed on 01/04/2025

Property Details

Bedrooms
6
Type
Detached house
Area
2809 sqft

Description

This spacious six-bedroom residence is situated on approximately 0.4 acres of south-facing land, offering a significant opportunity for renovation and investment. The property features an expansive kitchen/diner alongside multiple reception areas, including a lounge, sitting room, and an office/study. Two of the rooms are enhanced with traditional fireplaces, which contribute to the home's character and charm. The outdoor space is equally impressive, featuring off-road parking and several outbuildings that present potential for conversion (subject to planning permission). These structures include cart sheds and wood stores equipped with power and lighting, making them suitable for various uses such as storage or workshops. The generous rear garden showcases diverse landscaping with mature plants, a pond, vegetable patches, and a patio area—ideal for creating a self-sustaining outdoor retreat. Located in the quaint village of Little Melton, this property benefits from its close proximity to Hethersett (2.5 miles away) and Norwich (5 miles away), providing easy access to local amenities while maintaining a peaceful rural lifestyle. The village is well-regarded for its strong community spirit and includes a local school, which makes it particularly appealing to families and professionals alike. Additionally, it is conveniently near major employers like the Norfolk and Norwich University Hospital and the UEA. This property presents not just a home but also an exceptional investment opportunity given its size, location, and potential for enhancement through renovation efforts. Whether looking to create your dream home or seeking out a project with future value appreciation in mind, this residence stands out as an option worth exploring further.

Investment Analysis

(NR9 area)

Below Market Value

This property is priced -18.7% below area average per sq ft

-18.7%
Potential saving
This Property
£258/sq ft
Area Average
£318/sq ft
Avg Rent (weekly)
£302
Avg Yield
4.0%

Renovation Potential

Est. Renovation Cost
£72,500 - £181,250
10-25% of property value
Target Value
£981,198
10% above area average per sq ft
Potential ROI
+8.3%
After renovation
Monthly Sales
24
Average per month
Market Turnover
22%
Properties sold annually

Local Market Trend (NR9)

Area prices are stable by +1.5% over the last 12 months
3 year growth: 2.7%
5 year growth: 16.1%
Investment Disclaimer: Analysis based on NR9 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

School Lane, Little Melton
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