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Old Market Street, Thetford

East of England

£325,000
Listed on 29/12/2025

Property Details

Bedrooms
4
Type
Detached house
Area
2304 sqft

Description

This distinguished 600-year-old Grade II listed residence offers a unique blend of historical charm and modern potential, making it an intriguing prospect for those interested in heritage properties. Originally constructed as a guesthouse for a nearby friary and later functioning as a public house, this home is rich with character and original features including exposed timber beams, traditional fireplaces, and ancient masonry, all contributing to its fascinating narrative. The property has previously received planning permission to convert its former garage and hayloft into a one-bedroom cottage. This additional space presents an excellent opportunity for flexible use—whether as guest accommodation, a home office, or even a source of rental income. While the property has been thoughtfully preserved over the centuries, there remains ample scope for renovation. The interior includes multiple reception areas with period features that could benefit from modern updates, alongside essential spaces like the kitchen and bathrooms that may require attention to meet contemporary living standards. Located in the scenic area of Thetford in Norfolk—with lush nature reserves and historic woodlands at your doorstep—this property not only stands as a testament to its storied past but also offers prospective owners the chance to leave their mark on it. The mature garden further enhances its appeal, with potential for landscaping enhancements or outdoor entertaining spaces.

Investment Analysis

(IP24 area)

Below Market Value

This property is priced -45.7% below area average per sq ft

-45.7%
Potential saving
This Property
£141/sq ft
Area Average
£260/sq ft
Avg Rent (weekly)
£263
Avg Yield
5.5%

Renovation Potential

Medium Refurb
Est. Renovation Cost
£50,000 - £80,000
Target Value
£658,944
10% above area average per sq ft
Potential ROI
+62.7%
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
18%
Properties sold annually

Local Market Trend (IP24)

Area prices are falling by +4.1% over the last 12 months
3 year growth: -7.5%
5 year growth: 13.8%
Investment Disclaimer: Analysis based on IP24 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

Old Market Street, Thetford
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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
£1,191
Based on a loan of £243,750 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