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School Lane, Raithby, Spilsby

East of England

£395,000
Listed on 28/11/2024

Property Details

Bedrooms
N/A
Type
Detached house

Description

This property presents a compelling opportunity for those looking to invest in a development plot with established planning permission. Located in the tranquil village of Raithby, which offers stunning views on the edge of The Lincolnshire Wolds (an Area of Outstanding Natural Beauty), this site spans approximately 8 acres and is just two miles from the market town of Spilsby. The plot has been granted full planning permission for the construction of two detached dwellings and a garage, with alterations planned for the existing access. This makes it an attractive prospect for developers or investors eager to capitalize on new residential opportunities in a semi-rural setting. The planning reference number is N/137/02220/23, with documentation available through East Lindsey District Council for those interested in further details. Raithby itself is a charming community equipped with essential amenities, including local schools and convenient transport links to larger towns such as Lincoln and Skegness. Residents can also enjoy the village's quaint pub and active church, enhancing its appeal for potential homeowners or rental markets. The dimensions of the building footprint allow for significant development potential, with plans indicating an area of 296 m² (approximately 3,186 ft²) for the proposed dwelling. Each plot measures around 0.56 acres (2,256 m²), while the surrounding land offers ample space for outdoor activities or additional developments. Boundaries are clearly marked on-site, and while there are no known boundary disputes, purchasers will be expected to conduct their own due diligence regarding ownership. The vendor is prepared to include covenants to preserve mutual views along shared boundaries. Basic services such as mains water appear to be within reach at the end of School Lane; however, prospective buyers should verify all connections independently. Full vacant possession will be provided upon completion, offering flexibility and immediate use once development progresses. This plot not only has strong investment credentials but also benefits from its picturesque location in a developing area poised for growth. For individuals or companies looking to make a mark in real estate development within a peaceful village setting, this opportunity merits serious consideration.

Investment Analysis

(PE23 area)
Area Average
£223/sq ft

Renovation Potential

Heavy Refurb
Est. Renovation Cost
£300,000 - £500,000
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
11
Average per month
Market Turnover
11%
Properties sold annually

Local Market Trend (PE23)

Area prices are falling by +7.2% over the last 12 months
3 year growth: -6.5%
5 year growth: 14.4%
Investment Disclaimer: Analysis based on PE23 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

School Lane, Raithby, Spilsby
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Mortgage Calculator

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£
£
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%
years

Current average 2-year fixed rate is 4.19%

Current average variable rate is 6.78%

Monthly Repayments
£1,447
Based on a loan of £296,250 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