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Preston-On-Wye, Hereford

West Midlands

£300,000
Listed on 13/03/2026

Property Details

Bedrooms
N/A
Type
Detached house

Description

This property presents an exceptional development opportunity tucked away in a charming village setting near the River Wye. With detailed planning permission already secured for the construction of four new homes, along with listed building consent, the groundwork for a lucrative investment is firmly in place. The site benefits from main drainage access and is predominantly flat, situated within the grounds of a historic 17th Century Grade II Listed building. Located in Preston-On-Wye, this area is well-connected to Hereford (10 miles) and Hay-on-Wye (12 miles), offering both local amenities and scenic walks along the river. The village is equipped with essential facilities such as a village hall, pub, and church, while additional services can be found nearby in Madley. The proposed development features traditional-style dwellings with brick stonework and slate roofs organized into a courtyard layout. Notably, since planning permission was approved, further green land has been acquired which could serve to enhance the units' outdoor space significantly. This project provides an ideal canvas for investors looking to tap into the residential market in a desirable location that promises growth potential. The individual units range in size from approximately 122 sq m to 189 sq m and include multiple bedrooms and parking options, catering to modern family living requirements. Essential services including mains electricity and water are reportedly available for connection, though prospective buyers should verify costs and availability independently.

Investment Analysis

(HR2 area)
Area Average
£279/sq ft
Avg Rent (weekly)
£253
Avg Yield
3.8%

Renovation Potential

Medium Refurb
Est. Renovation Cost
£250,000 - £350,000
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
32
Average per month
Market Turnover
12%
Properties sold annually

Local Market Trend (HR2)

Area prices are falling by -3.4% over the last 12 months
3 year growth: -0.1%
5 year growth: +9.5%
Investment Disclaimer: Analysis based on HR2 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

Preston-On-Wye, Hereford
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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
£1,082
Based on a loan of £225,000 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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