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The Courthouse, Neville Street, Ulverston - Image 1
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The Courthouse, Neville Street, Ulverston

North West

£500,000
Listed on 01/12/2025

Property Details

Bedrooms
N/A
Type
Detached house
Area
5275 sqft

Description

This property presents a unique opportunity for developers and investors, given its prime location within a well-established development site. Full planning permission has been granted under reference SL/2023/0400, allowing for a mix of uses including office spaces or cafés (Class E) as well as hotel or apartment accommodations (Class C1). There is potential for innovative redevelopment, particularly in the section referred to as 'The Courthouse,' which may be eligible for alternative use classifications pending the necessary approvals. The current owners are open to negotiating the sale of this central portion of the site or possibly entering into a joint venture arrangement. With its sought-after accessibility and versatility, this site stands out as a promising project with significant investment potential.

Investment Analysis

(LA12 area)

Below Market Value

This property is priced -63.9% below area average per sq ft

-63.9%
Potential saving
This Property
£95/sq ft
Area Average
£262/sq ft
Avg Rent (weekly)
£203
Avg Yield
3.7%

Renovation Potential

Medium Refurb
Est. Renovation Cost
£150,000 - £300,000
Target Value
£1,521,996
10% above area average per sq ft
Potential ROI
+90.2%
After renovation
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
26
Average per month
Market Turnover
14%
Properties sold annually

Local Market Trend (LA12)

Area prices are falling by +4.6% over the last 12 months
3 year growth: -8.1%
5 year growth: 13.3%
Investment Disclaimer: Analysis based on LA12 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

The Courthouse, Neville Street, Ulverston
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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
£1,832
Based on a loan of £375,000 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