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Reeves Lane, Wing, Oakham, Rutland - Image 1
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Reeves Lane, Wing, Oakham, Rutland

East Midlands

£400,000
Listed on 20/10/2025

Property Details

Bedrooms
4
Type
Detached house
Area
2508 sqft

Description

Nestled on a spacious quarter-acre lot, this property currently features a two-bedroom bungalow with significant renovation and investment potential. With full planning permission already secured for the construction of a new four-bedroom family home, the site is primed for development. The proposed plans include modern amenities such as off-road parking, a garage, and an expansive west-facing garden, ideal for outdoor living. Additionally, the design incorporates a detached, purpose-built home office or gym space, catering to diverse lifestyle needs. Located in the desirable village of Wing in Rutland, just south of Rutland Water, this property enjoys the benefits of a tranquil setting on a quiet road with minimal through traffic. The local community is vibrant and engaged, supported by amenities such as a well-regarded farm shop that offers both dining options and a selection of local produce. The village is conveniently connected to nearby market towns through bus services and boasts excellent road links to Leicester, Stamford, and Peterborough. Families will appreciate the range of educational opportunities available in both state and private sectors. Currently offered with all mains services connected and gas LPG for heating convenience, this freehold property is an excellent canvas for those looking to invest in real estate in a sought-after location. With ample room for expansion and modernization, it presents exciting possibilities for buyers interested in creating their ideal living space while benefiting from the charm and community spirit that Rutland has to offer.

Investment Analysis

(LE15 area)

Below Market Value

This property is priced -47.3% below area average per sq ft

-47.3%
Potential saving
This Property
£159/sq ft
Area Average
£303/sq ft
Avg Rent (weekly)
£249
Avg Yield
3.3%

Renovation Potential

Medium Refurb
Est. Renovation Cost
£150,000 - £250,000
Target Value
£834,675
10% above area average per sq ft
Potential ROI
+28.4%
After renovation
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
32
Average per month
Market Turnover
13%
Properties sold annually

Local Market Trend (LE15)

Area prices are falling by +2.7% over the last 12 months
3 year growth: 6.8%
5 year growth: 8.2%
Investment Disclaimer: Analysis based on LE15 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

Reeves Lane, Wing, Oakham, Rutland
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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
£1,465
Based on a loan of £300,000 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