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3 School Lane, Leominster - Planning Approved For Full Residential Dwelling

West Midlands

£120,000
Listed on 04/02/2026

Property Details

Bedrooms
1
Type
Terraced house
Area
1105 sqft

Description

Situated in the vibrant market town of Leominster, this Grade II Listed freehold property presents a unique investment opportunity with significant renovation potential. Currently comprising a ground floor commercial shop and a self-contained one-bedroom flat on the upper levels, the property is strategically positioned just off Corn Square, enjoying excellent visibility and accessibility. Notably, planning permission has been granted to convert the entire ground floor retail space into a complete residential dwelling, allowing for expansion or transformation to suit modern living needs. The existing layout includes original timber features and ample space for reconfiguration. This property not only benefits from its location at the heart of town but also offers a chance to create valuable residential units in an area with strong rental demand. With its dual-use potential and conservation area status, this is an ideal project for investors looking to enhance value while preserving historical character.

Investment Analysis

(HR6 area)

Below Market Value

This property is priced -60.7% below area average per sq ft

-60.7%
Potential saving
This Property
£109/sq ft
Area Average
£276/sq ft
Avg Rent (weekly)
£188
Avg Yield
2.9%

Renovation Potential

Medium Refurb
Est. Renovation Cost
£40,000 - £60,000
Target Value
£335,964
10% above area average per sq ft
Potential ROI
+86.6%
After renovation
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
22
Average per month
Market Turnover
33%
Properties sold annually

Local Market Trend (HR6)

Area prices are falling by +6.3% over the last 12 months
3 year growth: -6.6%
5 year growth: 6.6%
Investment Disclaimer: Analysis based on HR6 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

3 School Lane, Leominster - Planning Approved For Full Residential Dwelling
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Mortgage Calculator

£
£
£
%
%
years

Current average 2-year fixed rate is 4.06%

Current average variable rate is 6.81%

Monthly Repayments
£433
Based on a loan of £90,000 over 30 years at 4.06% 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