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Between Nettlestead & Somersham, Nr Ipswich, Suffolk - Image 1
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Between Nettlestead & Somersham, Nr Ipswich, Suffolk

East of England

£250,000
Listed on 09/05/2024

Property Details

Bedrooms
N/A
Type
Detached house

Description

This property presents a significant opportunity for those interested in renovation and investment. With planning permission already granted, the site allows for the construction of three new dwellings: a link-detached bungalow, a link-detached house, and a detached bungalow. The project will commence following the demolition of an existing agricultural storage building on approximately 0.27 acres (0.11 hectares). Located within Watering Farm in Nettlestead and just a short drive from Somersham, this site offers both the tranquil charm of rural living and convenient access to local amenities. Somersham features a range of facilities, including a village pub, primary school, shop, hairdresser, garage, and community hall, making it well-suited for families and individuals alike. The surrounding farmland provides picturesque views while maintaining accessibility to larger villages such as Bramford and Claydon, which offer additional shopping and recreational options. The property's strategic location also allows for easy connectivity to major road networks such as the A14. This provides direct routes east toward Ipswich and Felixstowe or west toward Bury St Edmunds and Cambridge. Ipswich itself is only about 2 miles away and offers comprehensive services including a mainline train station with connections to London Liverpool Street. The approved plans include specific layouts for each unit: - Unit 1: A two/three-bedroom link-detached bungalow (887 sq ft). - Unit 2: A four-bedroom link-detached chalet-style house (1,245 sq ft). - Unit 3: A two-bedroom detached bungalow (853 sq ft). In total, the project encompasses nearly 3,000 square feet of residential space with dedicated gardens and parking provisions for each unit. The vendors have taken proactive steps by phasing the development; early groundwork has already begun with approval from local authorities to create necessary accesses before planning expiration in January 2024. Furthermore, there is an opportunity to enhance investment potential as adjacent properties may also be available for development; discussions regarding these can be pursued separately. Additional details concerning Community Infrastructure Levy (CIL) obligations are available upon request. For prospective buyers looking to develop or renovate properties in this appealing locale, complete access to necessary utilities is anticipated. New independent underground supplies for water, electricity, and drainage can be established from the public highway with appropriate easements provided by the vendor. This site offers not only an immediate investment potential through planned residential development but also long-term value given its desirable location near essential amenities and transport links.

Investment Analysis

(IP8 area)
Area Average
£328/sq ft

Renovation Potential

Heavy Refurb
Est. Renovation Cost
£700,000 - £900,000
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
12
Average per month
Market Turnover
11%
Properties sold annually

Local Market Trend (IP8)

Area prices are rising by +5.4% over the last 12 months
3 year growth: -4.7%
5 year growth: 10.6%
Investment Disclaimer: Analysis based on IP8 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

Between Nettlestead & Somersham, Nr Ipswich, Suffolk
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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
£916
Based on a loan of £187,500 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