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Mill House, Spout Lane, Wennington, LA2 8NX - Image 1
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Mill House, Spout Lane, Wennington, LA2 8NX

North West

£1,050,000
Listed on 07/09/2023

Property Details

Bedrooms
N/A
Type
Detached house

Description

This property presents a unique opportunity for renovation and investment, located within the tranquil countryside. The existing structures comprise a collection of derelict farm buildings, including a historic mill and stable, which are designated as Grade II listed features of a model farm established in 1845 by W A F Saunders at Wennington Hall. Planning consent was granted by Lancaster City Council on March 6, 2020 (reference: 19/00887/FUL) to facilitate the transformation of these buildings into a contemporary residential dwelling. The envisaged renovation will maintain the architectural integrity of the original structures while introducing modern living spaces. Plans include the conversion of the main Mill House into a spacious six-bedroom residence, alongside an innovative leisure complex featuring a swimming pool and sauna, all designed to harmonize with the surrounding landscape through minimal visual impact. In addition to the primary residence, there is significant potential to develop two guest apartments in the converted stable crew yard, providing additional income opportunities or accommodation for staff. The proposed guest facilities will feature flexible layouts with two to three bedrooms, ideal for short-term rentals or extended family stays. The project aims to uphold high-quality design principles throughout, combining restoration with thoughtful extensions that cater to modern family needs without compromising the character of the original farm buildings. With ample outdoor space and scenic surroundings, this property could become an attractive destination for families or holidaymakers seeking rural retreat experiences. Current services include mains electricity and water supply, with B4RN hyperfast broadband and mains gas available nearby. Prospective buyers are encouraged to explore these options further as they consider this property’s potential for revitalization and growth in value.

Investment Analysis

(LA2 area)
Area Average
£275/sq ft
Avg Rent (weekly)
£211
Avg Yield
3.6%

Renovation Potential

Heavy Refurb
Est. Renovation Cost
£850,000 - £1,200,000
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
17
Average per month
Market Turnover
8%
Properties sold annually

Local Market Trend (LA2)

Area prices are rising by +6.1% over the last 12 months
3 year growth: 13.0%
5 year growth: 11.2%
Investment Disclaimer: Analysis based on LA2 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 House, Spout Lane, Wennington, LA2 8NX
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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
£3,846
Based on a loan of £787,500 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