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Mill Drove, Bourne, Lincolnshire, PE10

East of England

£550,000
Listed on 04/10/2025

Property Details

Bedrooms
5
Type
Detached house
Area
2352 sqft

Description

This spacious detached home is situated on a generous plot in a highly desirable area, offering significant renovation and investment potential. The property presents an ideal opportunity for families seeking roomy accommodation or investors looking to enhance its value through modernization. Upon entering, you are greeted by an entrance hall that leads to three well-sized reception rooms, providing flexible spaces for living and entertaining. The kitchen/breakfast room features ample cabinetry and connections suitable for various appliances, making it a practical base for daily activities. A downstairs cloakroom adds convenience for guests. The upper level comprises five comfortably sized bedrooms, with the master suite benefiting from an en-suite bathroom. A family bathroom serves the additional bedrooms, which could be reconfigured to suit your preferences. Notably, the landing provides access to a sizeable loft space that could potentially be converted into an additional bedroom or studio (subject to planning permissions), enhancing the property's living space further. Outside, the front driveway offers generous off-road parking and potential side space for a garage installation (pending necessary consents). The expansive rear garden measures over 100ft and is predominantly laid to lawn, lined with mature trees that offer both character and privacy. A distinctive feature of this outdoor space is the covered entertainment pavilion equipped with BBQ facilities and a pizza oven—perfect for outdoor gatherings throughout the year. Additionally, there is a substantial double garage/workshop along with timber sheds that provide useful storage options and versatility for hobbies or projects. This property represents an exceptional opportunity to create a personalized family residence or invest in an area known for its strong demand. Viewing is recommended to fully appreciate the possibilities this home has to offer.

Investment Analysis

(PE10 area)

Below Market Value

This property is priced -7.2% below area average per sq ft

-7.2%
Potential saving
This Property
£234/sq ft
Area Average
£252/sq ft
Avg Rent (weekly)
£228
Avg Yield
4.4%

Renovation Potential

Medium Refurb
Est. Renovation Cost
£30,000 - £60,000
Target Value
£651,974
10% above area average per sq ft
Potential ROI
+6.9%
After renovation
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
34
Average per month
Market Turnover
12%
Properties sold annually

Local Market Trend (PE10)

Area prices are rising by +2.1% over the last 12 months
3 year growth: 1.5%
5 year growth: 15.6%
Investment Disclaimer: Analysis based on PE10 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

Mill Drove, Bourne, Lincolnshire, PE10
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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
£2,015
Based on a loan of £412,500 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