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Mellis

East of England

£520,000
Listed on 23/05/2025

Property Details

Bedrooms
5
Type
Detached house
Area
2809 sqft

Description

This early Victorian mansion presents a rare opportunity for those looking to invest in a property with significant renovation potential. Nestled in a highly desirable location, this five-bedroom residence retains many of its original features and layout, providing a solid foundation for restoration or reimagining. The home has been held by the same family since 1969, reflecting both its historical significance and deep-rooted charm. The extensive grounds, once known as Mellis Park, add to the property's appeal, with ample space that could be revitalized into stunning outdoor areas. Historically, community events were hosted here, highlighting the potential for transforming these generous grounds into vibrant gardens or recreational spaces. The rear paddock holds additional possibilities for landscaping or perhaps even expanding outdoor living areas. While the property requires considerable attention and modernization, it offers an exceptional canvas for an enthusiastic buyer willing to invest time and resources. With its rich history and prime location, this mansion is not just a residence; it’s an opportunity to restore a piece of local heritage while creating a unique living space tailored to modern needs.

Investment Analysis

(IP23 area)

Below Market Value

This property is priced -37.8% below area average per sq ft

-37.8%
Potential saving
This Property
£185/sq ft
Area Average
£298/sq ft

Renovation Potential

Heavy Refurb
Est. Renovation Cost
£150,000 - £300,000
Target Value
£919,245
10% above area average per sq ft
Potential ROI
+12.1%
After renovation
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
6
Average per month
Market Turnover
7%
Properties sold annually

Local Market Trend (IP23)

Area prices are rising by +13.1% over the last 12 months
3 year growth: -5.9%
5 year growth: 18.2%
Investment Disclaimer: Analysis based on IP23 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

Mellis
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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
£1,905
Based on a loan of £390,000 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