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The Millrace, Polegate

South East

£300,000
Listed on 05/12/2025

Property Details

Bedrooms
2
Type
Detached house
Area
968 sqft

Description

This detached bungalow offers a unique opportunity for renovation and investment in a sought-after location, just a short walk from local shops, bus routes, and schools. With two bedrooms and a generous amount of living space, this property is primed for transformation to meet modern standards while still featuring solid foundations. Upon entering, you are welcomed by a bright hallway that provides access to all main areas of the home. The kitchen/dining room, located at the front, has ample cupboard space and work surfaces, making it ideal for those looking to reimagine their cooking space. Its design allows for an eat-in area, perfect for casual meals or morning coffee breaks. Adjacent to the kitchen is a porch with additional storage capabilities and access to the side garden, presenting a potential expansion opportunity. The spacious lounge offers plenty of room for comfortable seating arrangements and features a fireplace that serves as an inviting focal point. The adjoining conservatory extends the living area and overlooks the sizeable rear garden—an appealing aspect that could be enhanced through landscaping or outdoor improvements. There are two double bedrooms within the layout. The larger bedroom provides ample space for furniture while allowing for views of the tranquil garden setting. The second bedroom can serve multiple purposes depending on your needs. Both bedrooms share a bathroom equipped with traditional fixtures—a potential area for modernization. Externally, the property boasts wrap-around lawns adorned with mature shrubs and trees, creating both privacy and an inviting environment. Off-road parking is available at the front of the home along with a single garage located conveniently across from the property—ideal for vehicle storage or as an additional workspace. This bungalow is offered chain-free, making it easier for prospective buyers to envision their renovation plans without delay. Its combination of location, size, and potential makes it an appealing investment opportunity in today’s market.

Investment Analysis

(BN26 area)

Below Market Value

This property is priced -20.8% below area average per sq ft

-20.8%
Potential saving
This Property
£310/sq ft
Area Average
£392/sq ft
Avg Rent (weekly)
£289
Avg Yield
3.9%

Renovation Potential

Medium Refurb
Est. Renovation Cost
£25,000 - £40,000
Target Value
£416,869
10% above area average per sq ft
Potential ROI
+22.6%
After renovation
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
12
Average per month
Market Turnover
16%
Properties sold annually

Local Market Trend (BN26)

Area prices are stable by +1.3% over the last 12 months
3 year growth: -4.1%
5 year growth: 9.3%
Investment Disclaimer: Analysis based on BN26 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 Millrace, Polegate
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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
£1,099
Based on a loan of £225,000 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