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Old Street, Ludlow, Shropshire

West Midlands

£215,000
Listed on 16/01/2025

Property Details

Bedrooms
3
Type
Terraced house
Area
1062 sqft

Description

This three-bedroom first-floor apartment offers an excellent opportunity for renovation in a desirable residential area of Ludlow. Positioned within walking distance to the vibrant town center, the property is part of a community known for its rich architectural heritage and lively atmosphere, characterized by numerous events and festivals throughout the year. Its reputation as a culinary destination is bolstered by an array of fine restaurants and cafes, alongside local producers that contribute to the area’s notable food scene. Conveniently located just off the A49, residents can enjoy easy access to nearby towns such as Shrewsbury and Hereford. Commuters will appreciate the transport links facilitating journeys to Birmingham and other West Midlands locations within approximately one hour. The region also boasts a selection of esteemed educational institutions, including Moor Park and Shrewsbury School, making it a suitable choice for families. The apartment itself provides a welcoming entrance leading up from the main street. Inside, you’ll find a hallway that grants access to a private roof terrace—ideal for outdoor relaxation—and connects to spacious living areas. The kitchen/breakfast room and living/dining room offer pleasant views over Old Street, promising potential for reconfiguration according to modern preferences. With three bedrooms on the second floor and a family bathroom, this property presents a canvas for those looking to modernize and personalize their space. Whether as a full-time residence, an investment opportunity in the rental market, or even as a second home in this picturesque town, No. 8 awaits your vision. Additional features include mains water, electricity, gas, and drainage services; broadband availability could enhance connectivity for remote work or leisure activities. As a leasehold property with significant remaining years on the lease, it also comes with shared maintenance responsibilities with neighboring apartments. For buyers interested in capitalizing on Ludlow's charm while adding value through thoughtful renovation, this apartment represents an intriguing prospect in an enviable location.

Investment Analysis

(SY8 area)

Below Market Value

This property is priced -30.3% below area average per sq ft

-30.3%
Potential saving
This Property
£202/sq ft
Area Average
£290/sq ft
Avg Rent (weekly)
£219
Avg Yield
3.5%

Renovation Potential

Medium Refurb
Est. Renovation Cost
£25,000 - £40,000
Target Value
£339,070
10% above area average per sq ft
Potential ROI
+33.0%
After renovation
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
16
Average per month
Market Turnover
8%
Properties sold annually

Local Market Trend (SY8)

Area prices are falling by +5.0% over the last 12 months
3 year growth: 5.5%
5 year growth: 7.7%
Investment Disclaimer: Analysis based on SY8 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

Old Street, Ludlow, Shropshire
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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
£788
Based on a loan of £161,250 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