DEVELOPMENT OPPORTUNITY * LAKE
South East
£315,000
Listed on 28/10/2026
Listed on 28/10/2026
The listing
Property details
Bedrooms
4Type
Detached HouseArea
1097 sqftFeatures
- Garage
- Garden
- Parking
Description
A detached four-bedroom house in Lake, within walking distance of local shops, the cliff path and beach, and the railway station with ferry connections to the mainland. The accommodation is arranged over two floors, with an entrance hall, lounge, separate dining room, kitchen and sun room with a WC downstairs. Upstairs are four bedrooms and the main bathroom.
The property is described as requiring modernisation throughout. Outside, there is driveway parking at the front, while the large west-facing rear garden has a patio and lawn. A separate rear vehicle access leads to further parking and a detached garage. The garden may offer scope for development, subject to planning permission and verification of feasibility. The house is chain free.
WHOTS analysis
Our WHOTS verdict
An internal assessment of the opportunity to acquire, improve and create value.
52out of 100
Grade DWeak opportunity
Confidence: MEDIUM
This detached four-bedroom house offers a light modernisation project, with a usable lounge and dining room, an established west-facing garden, detached garage and useful rear vehicle access. The older finishes and fittings give scope to refresh the interior, while the garden offers further potential to improve; any development would depend on planning permission.
All-in costs deserve a mention: works on top of purchase push the economics into a tighter band versus area norms, about 8% ahead of typical local benchmarks for this size. Not necessarily a deal-breaker for a project buyer, but it caps the headline score.
Key opportunities
- Refresh the dated decorative finishes and carpets to give the habitable rooms a more contemporary feel.
- Update the distinctive older kitchen and pink-bathroom suite as desired, rather than treating either as a confirmed essential replacement.
- Make the most of the large established garden, detached garage and rear vehicle access; garden development is only a possibility subject to planning.
Key risks
- All-in purchase and works costs look tight against local benchmarks, limiting the financial headroom for a project buyer.
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Transport
Nearest stations
Lake (Isle of Wight) Rail Station
0.3 miles
Train · Lake
Sandown Rail Station
0.6 miles
Train · Sandown
Shanklin Rail Station
1.2 miles
Train · Shanklin
Brading Rail Station
2.4 miles
Train · Brading
Contains public sector information from NaPTAN (DfT) licensed under the Open Government Licence v3.0.
Finance
Mortgage calculator
Illustrative repayments based on the asking price, not a mortgage offer.
£
£
£
%
%
years
Current average 2-year fixed rate is 4.45%
Current average variable rate is 6.60%
Monthly Repayments
£1,190
Based on a loan of £236,250 over 30 years at 4.45% 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.
Tax
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