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Love Lane, Mitcham

South East

£800,000
Listed on 26/08/2025

Property Details

Bedrooms
5
Type
Detached
Area
1751 sqft

Description

This substantial detached residence, currently divided into two self-contained flats, presents a remarkable opportunity for renovation and investment. Situated on a spacious plot, the ground floor features a flexible 2/3 bedroom flat with its own garden space, while the first floor offers a functional two-bedroom apartment. The substantial development potential here makes it an ideal prospect for investors, developers, or families looking to expand their living space. The property holds the possibility of being transformed back into a single-family home, subject to council approvals. Additionally, there is scope for both side and rear extensions that could potentially add around 1500 sq ft across two levels. A loft conversion also stands as a viable option with the appropriate planning consents. At the rear of the property, an expansive outbuilding/garage is in the process of gaining planning permission to be converted into a separate 2-bedroom chalet bungalow complete with private garden and off-street parking, providing further value-add potential. This home is poised for extensive refurbishment and extension opportunities, making it an exciting project for those looking to create significant value through thoughtful renovations.

Investment Analysis

(CR4 area)

Below Market Value

This property is priced -8.3% below area average per sq ft

-8.3%
Potential saving
This Property
£457/sq ft
Area Average
£499/sq ft
Avg Rent (weekly)
£412
Avg Yield
5.0%

Renovation Potential

Heavy Refurb
Est. Renovation Cost
£100,000 - £180,000
Target Value
£960,161
10% above area average per sq ft
Potential ROI
-2.0%
After renovation
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
22
Average per month
Market Turnover
6%
Properties sold annually

Local Market Trend (CR4)

Area prices are stable by -1.4% over the last 12 months
3 year growth: +0.8%
5 year growth: +2.4%
Investment Disclaimer: Analysis based on CR4 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

Love Lane, Mitcham
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Mortgage Calculator

£
£
£
%
%
years

Current average 2-year fixed rate is 3.97%

Current average variable rate is 6.59%

Monthly Repayments
£2,854
Based on a loan of £600,000 over 30 years at 3.97% 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.

Stamp Duty Calculator

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