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Building Plot for Three Houses in West Lynn - Image 1
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Building Plot for Three Houses in West Lynn

East of England

£325,000
Listed on 26/04/2025

Property Details

Bedrooms
N/A
Type
Detached house
Area
1023 sqft

Description

This property represents a noteworthy investment opportunity in a well-connected Norfolk village, previously home to the beloved Priors butchers. The site is poised for redevelopment, having obtained outline planning permission that facilitates significant alterations and enhancements. The current layout includes a spacious three-bedroom detached house featuring multiple reception rooms, allowing for potential reconfiguration into an open-plan living space. Additionally, the property contains former shop premises along with various outbuildings, all of which are ripe for renovation or removal, depending on your investment strategy. Off-road parking is available, along with a private garden space that adds to the overall appeal of the plot. With planning approval in place for the construction of two new semi-detached homes alongside the modernization of the existing residence, there is considerable scope to develop three family-oriented homes. Each dwelling would benefit from designated parking and generous outdoor areas—qualities that are increasingly sought after in today’s housing market. Location-wise, this property is conveniently situated within walking distance of essential amenities such as local shops, a primary school, and social venues. For those commuting to nearby towns or cities, access to public transport is just minutes away via The Ferry. Overall, this development site offers immediate potential for transforming it into desirable homes while benefiting from established local demand and strong community ties. This opportunity could prove advantageous for investors looking to capitalize on both resale value and rental income in a vibrant village setting.

Investment Analysis

(PE34 area)

Above Market Value

This property is priced +26.2% above area average per sq ft

+26.2%
This Property
£318/sq ft
Area Average
£252/sq ft

Renovation Potential

Medium Refurb
Est. Renovation Cost
£75,000 - £120,000
Target Value
£283,238
10% above area average per sq ft
Potential ROI
-36.4%
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
13%
Properties sold annually

Local Market Trend (PE34)

Area prices are rising by +6.5% over the last 12 months
3 year growth: -7.3%
5 year growth: 18.4%
Investment Disclaimer: Analysis based on PE34 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

Building Plot for Three Houses in West Lynn
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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