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Willingham Road, Market Rasen, Lincolnshire, LN8 - Image 1
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Willingham Road, Market Rasen, Lincolnshire, LN8

East Midlands

£650,000
Listed on 30/12/2025

Property Details

Bedrooms
5
Type
Detached house
Area
3894 sqft

Description

This substantial property consists of a five-bedroom main house, spanning nearly 4,000 sq. ft., along with a two-bedroom annex cottage, presenting significant renovation and investment opportunities. Nestled within established grounds that include garaging and outbuildings, the property boasts ample potential for enhancements tailored to modern tastes. The annex could serve as an ideal space for Airbnb rental, generating additional income in this attractive area.<br><br>Upon entering, you are greeted by a grand reception hall featuring charming period details. The dual-aspect sitting room showcases a beautiful grey marble fireplace, while the elegant dining room is accentuated by a striking pale grey and rose marble fireplace—both spaces perfect for entertaining guests. Adjacent to these rooms is a boot room that currently functions as a hobby space, alongside a cloakroom.<br><br>The traditional farmhouse-style kitchen is equipped with wood-fronted cabinets and an Aga stove, providing generous space for family dining. This area flows into a sitting area with lovely garden views and access to a walk-in pantry. A third reception room is also noteworthy, featuring an elegant fireplace and leading into a garden room surrounded by full-height windows—a wonderful setting for leisure activities.<br><br>Upstairs, the property accommodates six bedrooms. The principal suite includes an en-suite bathroom and dressing room which could easily convert into an additional bedroom if desired. The second double bedroom has access to an adjacent bathroom that can function as an en-suite or family bathroom.<br><br>Outside, the property features extensive gardens with mature trees offering privacy and tranquility. The driveway provides ample parking and leads to connected garages as well as storage facilities.<br><br>The cottage offers its own charm with dual-aspect sitting areas and classic features such as stone fireplaces. It has potential for modernization in both its kitchen and bathroom areas.<br><br>Positioned on the outskirts of Market Rasen—known for its scenic beauty—this location is ripe for exploration by walkers and cyclists alike. With nearby amenities including boutique shops, cafes, and proximity to both Lincoln City and Louth market town, this property not only presents a unique living experience but also significant potential for value enhancement through thoughtful refurbishment.

Investment Analysis

(LN8 area)

Below Market Value

This property is priced -24.8% below area average per sq ft

-24.8%
Potential saving
This Property
£167/sq ft
Area Average
£222/sq ft
Avg Rent (weekly)
£222
Avg Yield
4.0%

Renovation Potential

Medium Refurb
Est. Renovation Cost
£50,000 - £80,000
Target Value
£950,486
10% above area average per sq ft
Potential ROI
+30.2%
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
6%
Properties sold annually

Local Market Trend (LN8)

Area prices are falling by +13.8% over the last 12 months
3 year growth: -4.3%
5 year growth: 11.1%
Investment Disclaimer: Analysis based on LN8 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

Willingham Road, Market Rasen, Lincolnshire, LN8
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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
£2,381
Based on a loan of £487,500 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