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Newport, Isle of Wight

South East

£99,000
Listed on 24/08/2025

Property Details

Bedrooms
3
Type
Detached house
Area
797 sqft

Description

This property offers a unique opportunity for renovation and investment in a sought-after area within walking distance of various local amenities. The site has been granted outline planning permission for a detached three-bedroom house, making it an appealing prospect for those looking to build a new home or expand their investment portfolio. Nestled in the popular residential neighborhood of Castle Road, the location is just five minutes by car from the center of Newport. This vibrant county town provides a myriad of shops, cafes, and dining options, as well as access to reputable schools ranging from primary education through to sixth form college. For commuters, excellent transport links are available, facilitating easy travel across the island and connections to the mainland via nearby ferry terminals in East Cowes, Cowes, and Fishbourne—each only about a 15-minute drive away. The plot spans approximately 20 meters by 7.10 meters and is designed with future residents in mind. The proposed layout includes a welcoming hallway with built-in storage, an expansive open-plan living and dining area, a functional kitchen, and a convenient downstairs cloakroom. The upper floor will accommodate three bedrooms alongside a family bathroom. Additionally, there’s provision for off-road parking suitable for two vehicles. While the plot currently lacks connected services, information suggests that mains utilities are readily accessible nearby. This factor could streamline your development process once construction begins. As noted in the outline planning permission (reference 23/01710/OUT), granted on March 25th, 2024, detailed plans can be viewed for further insights into this exciting project. Whether you’re an investor looking for your next project or someone eager to create your ideal home in an advantageous location, this property presents an excellent foundation on which to realize your vision.

Investment Analysis

(PO30 area)

Below Market Value

This property is priced -55.2% below area average per sq ft

-55.2%
Potential saving
This Property
£124/sq ft
Area Average
£277/sq ft
Avg Rent (weekly)
£243
Avg Yield
4.4%

Renovation Potential

Heavy Refurb
Est. Renovation Cost
£200,000 - £300,000
Target Value
£243,197
10% above area average per sq ft
Potential ROI
-39.0%
After renovation
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
33
Average per month
Market Turnover
20%
Properties sold annually

Local Market Trend (PO30)

Area prices are stable by +0.7% over the last 12 months
3 year growth: -0.2%
5 year growth: +8.5%
Investment Disclaimer: Analysis based on PO30 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

Newport, Isle of Wight
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Mortgage Calculator

£
£
£
%
%
years

Current average 2-year fixed rate is 4.06%

Current average variable rate is 6.81%

Monthly Repayments
£357
Based on a loan of £74,250 over 30 years at 4.06% 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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