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Wacton Road, Forncett St. Peter, Norwich

East of England

£700,000
Listed on 22/11/2024

Property Details

Bedrooms
6
Type
Detached house
Area
3216 sqft

Description

This property presents a unique opportunity to acquire a period farmhouse alongside an attached two-bedroom cottage, set on approximately 1.69 acres of rural land. While the main residence and cottage have seen some initial renovations, they are now poised for further modernization, making this an attractive project for those seeking to enhance their investment. The farmhouse is a substantial structure that offers over three levels of spacious living areas, while the cottage provides additional versatile space across two floors. With separate entrances and gardens, both residences are well-suited to accommodate multi-generational living or could serve as potential holiday rentals, pending necessary planning permissions. Nestled at the end of a lengthy driveway and surrounded by expansive farmland, this property captures the tranquil essence of rural life with sweeping views. Additionally, there is a sizeable steel-framed barn spanning 2,371 sq. ft., previously utilized for storage and garaging, which offers significant potential for various uses—again, dependent on planning approval. Forncett St Peter is conveniently located about four miles from Long Stratton, which hosts essential everyday amenities. The historic market town of Wymondham lies roughly seven miles away and boasts an array of services including Wymondham College, a Waitrose supermarket, and railway access to Cambridge. For those commuting further afield, Norwich is just 12 miles to the north with its extensive retail options and cultural activities. Rail links from Diss (11 miles away) connect directly to London Liverpool Street within approximately one hour and fifty minutes. Essential services include oil-fired central heating for both properties and mains utilities such as water and electricity; drainage is managed via a septic tank. Potential buyers should note that no apparatus has been tested by Durrants. This offering encourages creative vision for renovation or expansion in a peaceful setting with strong investment potential given its location and features. Viewing can be arranged through the vendor’s agent Durrants for those interested in exploring this promising opportunity further.

Investment Analysis

(NR16 area)

Below Market Value

This property is priced -28.2% below area average per sq ft

-28.2%
Potential saving
This Property
£218/sq ft
Area Average
£303/sq ft

Renovation Potential

Medium Refurb
Est. Renovation Cost
£80,000 - £120,000
Target Value
£1,071,716
10% above area average per sq ft
Potential ROI
+30.7%
After renovation
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
12%
Properties sold annually

Local Market Trend (NR16)

Area prices are stable by +1.5% over the last 12 months
3 year growth: -4.6%
5 year growth: 12.3%
Investment Disclaimer: Analysis based on NR16 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

Wacton Road, Forncett St. Peter, Norwich
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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
£2,564
Based on a loan of £525,000 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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