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Lancaster House, Eagle Road, Spalford, Newark - Image 1
Lancaster House, Eagle Road, Spalford, Newark - Image 2
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Lancaster House, Eagle Road, Spalford, Newark - Image 9
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Lancaster House, Eagle Road, Spalford, Newark - Image 11

Lancaster House, Eagle Road, Spalford, Newark

East Midlands

£325,000
Listed on 30/08/2025

Property Details

Bedrooms
4
Type
Detached house
Area
1545 sqft

Description

Set on a spacious 0.16-acre lot, this early Victorian farmhouse presents a unique opportunity for those looking to invest in a property with significant renovation potential. Located on the northern edge of the quaint Trent Valley village of Spalford, the home is just 11 miles from the historic City of Lincoln, making it an appealing choice for both residential living and investment. The property features four bedrooms and offers a generous floor area of approximately 1,560 square feet (145 m²). While the interior requires comprehensive modernization and refurbishment, this provides a blank canvas for buyers eager to tailor the home to their tastes. Additionally, included in the grounds is an old smithy/washhouse at the rear, which holds promise for conversion into extra living space or even as an independent rental unit—subject to acquiring necessary planning consents. Looking ahead, Lancaster House is poised to benefit from planned developments in the area that include residential conversions of neighboring period barns and the introduction of new homes designed with a blend of contemporary and traditional aesthetics. This redevelopment could enhance property values and appeal further. With no onward chain involved, this farmhouse stands as a compelling prospect for investors or families ready to create their dream home while capitalizing on its growth potential within a revitalizing community.

Investment Analysis

(NG23 area)

Below Market Value

This property is priced -20.1% below area average per sq ft

-20.1%
Potential saving
This Property
£210/sq ft
Area Average
£263/sq ft
Avg Rent (weekly)
£369
Avg Yield
4.8%

Renovation Potential

Heavy Refurb
Est. Renovation Cost
£80,000 - £120,000
Target Value
£447,223
10% above area average per sq ft
Potential ROI
+0.5%
After renovation
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
15
Average per month
Market Turnover
14%
Properties sold annually

Local Market Trend (NG23)

Area prices are stable by +1.4% over the last 12 months
3 year growth: -4.9%
5 year growth: 17.8%
Investment Disclaimer: Analysis based on NG23 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

Lancaster House, Eagle Road, Spalford, Newark
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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
£1,191
Based on a loan of £243,750 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