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Petersmith Drive, New Ollerton, Newark, NG22 9RU

East Midlands

£170,000
Listed on 23/10/2025

Property Details

Bedrooms
3
Type
Semi-detached house
Area
1040 sqft

Description

This three-bedroom home is situated on a generous corner plot, providing ample outdoor space and potential for expansion. The property's layout is well-suited for families or those looking to create a versatile living environment. The ground floor features a spacious kitchen/diner that has been designed with both functionality and style in mind—an ideal setting for meals and gatherings. Adjacent to this area is a separate utility/cloakroom, enhancing the practicality of daily living. The lounge is filled with natural light, creating a comfortable and inviting atmosphere for relaxation. Moving upstairs, you will find three good-sized bedrooms along with a family bathroom that includes contemporary fixtures. Each room offers the opportunity for personalization, allowing new owners to put their own stamp on the space. Significantly, recent renovations have included a new roof, complete electrical rewire, and updated windows—all carried out in 2023—which can provide reassurance regarding the condition of essential elements of the property. Given its location on a corner plot, there is notable potential for further development or landscaping opportunities (subject to planning permission), making it an attractive prospect for investors or homeowners looking to enhance their living space. This home combines comfort and investment potential, making it worthy of consideration. A viewing will highlight the property’s practical features as well as its possibilities for growth.

Investment Analysis

(NG22 area)

Below Market Value

This property is priced -29.5% below area average per sq ft

-29.5%
Potential saving
This Property
£163/sq ft
Area Average
£232/sq ft
Avg Rent (weekly)
£222
Avg Yield
4.8%

Renovation Potential

Light Refurb
Est. Renovation Cost
£15,000 - £25,000
Target Value
£265,122
10% above area average per sq ft
Potential ROI
+36.0%
After renovation
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
34
Average per month
Market Turnover
20%
Properties sold annually

Local Market Trend (NG22)

Area prices are stable by +0.6% over the last 12 months
3 year growth: 4.0%
5 year growth: 27.7%
Investment Disclaimer: Analysis based on NG22 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

Petersmith Drive, New Ollerton, Newark, NG22 9RU
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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
£623
Based on a loan of £127,500 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