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Development Site at Bridge House, Bridge Street, Packington - Image 1
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Development Site at Bridge House, Bridge Street, Packington

East Midlands

£1,150,000
Listed on 05/03/2026

Property Details

Bedrooms
4
Type
Detached house

Description

This property presents a unique opportunity for developers and investors, situated in the desirable village of Packington. The site spans approximately 1.15 acres and includes a sizable semi-detached house alongside approved plans for two detached homes. The existing house, featuring three storeys, offers extensive living space with potential for refurbishment into a modern family residence. With its proximity to local amenities and transport links, there is significant upside potential in enhancing the current structure or realizing the full development opportunity on the land. The existing dwelling, built from rendered brick under a pitched tiled roof, boasts around 3,689 sqft of usable space including garages and parking areas. Given its central location in a village known for its community feel and accessibility to Ashby de la Zouch and major road networks, this property is ripe for transformation. Planning permissions have already been granted for demolishing parts of the existing building while allowing construction of two new dwellings designed with thoughtful layouts ideal for contemporary living. The planning permissions are in place until April 2025, ensuring ample time to initiate development. Buyers should also be aware of the flood zone considerations on-site, but with strategic planning, this challenge can be managed effectively.

Investment Analysis

(LE65 area)
Area Average
£302/sq ft
Avg Rent (weekly)
£226
Avg Yield
3.5%

Renovation Potential

Medium Refurb
Est. Renovation Cost
£150,000 - £250,000
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
18
Average per month
Market Turnover
33%
Properties sold annually

Local Market Trend (LE65)

Area prices are falling by -5.7% over the last 12 months
3 year growth: -5.1%
5 year growth: +7.4%
Investment Disclaimer: Analysis based on LE65 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

Development Site at Bridge House, Bridge Street, Packington
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Mortgage Calculator

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£
£
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years

Current average 2-year fixed rate is 4.06%

Current average variable rate is 6.81%

Monthly Repayments
£4,148
Based on a loan of £862,500 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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