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Church Square, Rye, TN31

South East

£499,950
Listed on 07/08/2025

Property Details

Bedrooms
2
Type
Terraced house
Area
983 sqft

Description

Tucked away just off one of Rye’s enchanting cobbled streets, this quaint two-bedroom cottage offers a unique renovation opportunity in a prime location. A short stroll brings you to the town's vibrant shopping district and an array of local amenities, making it an ideal choice for those seeking a second home or a serene retreat. With its position as a popular tourist destination, coupled with proximity to the picturesque Romney Marshes and the coast, this property stands out as a viable option for prospective investors interested in holiday rentals or vacation homes (subject to necessary permissions). The charm of this timber-framed 16th-century dwelling is evident throughout, from its characterful living spaces spanning three floors to its distinctive architectural features. The heart of the home is a spacious sitting and dining room characterized by exposed beams, original floorboards, and a large fireplace fitted with a wood burner—ideal for cozy evenings. French doors lead directly to the courtyard garden, creating an inviting flow between indoor and outdoor spaces. The compact kitchen at the front retains its cottage-style charm, featuring essential units and views over the charming entrance passageway. On the first floor, you will find two generously sized double bedrooms, each offering stunning views towards Camber Sands and Winchelsea. The main bedroom boasts additional period features like a brick fireplace and built-in storage. A small landing connects to the shower room while stairs lead up to the second bedroom, which has vaulted ceilings that enhance its spaciousness—a versatile space that could also serve as an additional living area. The south-facing courtyard garden is a highlight of this property; it is partially walled, providing privacy while serving as a sun trap perfect for relaxing outdoors. An adjacent pedestrian right of way allows access to neighboring gardens. This cottage does require some modernization and personal touches to fully realize its potential. However, with vision and care, it could be transformed into an exceptional home that retains its historic allure while meeting contemporary needs. With no onward chain in place, this property presents an exciting opportunity for both renovators and investors alike.

Investment Analysis

(TN31 area)

Above Market Value

This property is priced +31.1% above area average per sq ft

+31.1%
This Property
£509/sq ft
Area Average
£388/sq ft
Avg Rent (weekly)
£392
Avg Yield
4.8%

Renovation Potential

Medium Refurb
Est. Renovation Cost
£25,000 - £40,000
Target Value
£419,436
10% above area average per sq ft
Potential ROI
-22.3%
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
8%
Properties sold annually

Local Market Trend (TN31)

Area prices are falling by +2.2% over the last 12 months
3 year growth: -4.5%
5 year growth: 14.5%
Investment Disclaimer: Analysis based on TN31 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

Church Square, Rye, TN31
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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
£1,831
Based on a loan of £374,962 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