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BUNGALOW + MAJOR PLANNING PERMISSION FOR A 5 BEDROOM DWELLING Lime Avenue, Luton - Image 1
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BUNGALOW + MAJOR PLANNING PERMISSION FOR A 5 BEDROOM DWELLING Lime Avenue, Luton

East of England

£600,000
Listed on 18/07/2025

Property Details

Bedrooms
5
Type
Detached house
Area
1065 sqft

Description

This property presents a unique opportunity for renovation and investment, boasting a spacious five-bedroom layout on a generous corner plot. Currently configured as a detached bungalow, the home offers significant potential for modification, having already received planning permission for a two-storey side extension that would enhance its living space and increase its value. The existing structure is well-maintained, featuring an entrance porch that leads to the kitchen and main reception areas. The kitchen is functional with ample counter space, while the first reception room serves as a bright dining area, illuminated by large windows. The second reception room is an extension of the original design and provides flexibility in usage; however, plans indicate its removal in favor of the new development. One of the standout attributes of this property is its expansive garden, which not only offers ample outdoor space but also allows for additional extensions without compromising on garden area. The garage positioned at the end of the garden adds convenience for parking and storage. Located within close proximity to essential amenities and transport links—including Leagrave Train Station and the M1—this property benefits from accessibility while situated on a quiet residential street. With excellent schools nearby, it caters well to families looking for both comfort and convenience. Given its size, location, and approved development plans, this property represents an enticing prospect for investors or buyers seeking to create their ideal home.

Investment Analysis

(LU4 area)

Above Market Value

This property is priced +58.4% above area average per sq ft

+58.4%
This Property
£563/sq ft
Area Average
£356/sq ft
Avg Rent (weekly)
£320
Avg Yield
5.1%

Renovation Potential

Heavy Refurb
Est. Renovation Cost
£100,000 - £150,000
Target Value
£416,761
10% above area average per sq ft
Potential ROI
-44.4%
After renovation
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
30
Average per month
Market Turnover
17%
Properties sold annually

Local Market Trend (LU4)

Area prices are rising by +3.2% over the last 12 months
3 year growth: 4.0%
5 year growth: 27.6%
Investment Disclaimer: Analysis based on LU4 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

BUNGALOW + MAJOR PLANNING PERMISSION FOR A 5 BEDROOM DWELLING Lime Avenue, Luton
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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
£2,198
Based on a loan of £450,000 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