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Lancaster House, Eagle Road, Spalford, Newark

East Midlands

£325,000
Listed on 02/04/2026

Property Details

Bedrooms
4
Type
Detached
Area
1545 sqft

Description

This notable early Victorian farmhouse sits on a generous plot of approximately 0.16 acres in the tranquil northern outskirts of Spalford village, about 11 miles from Lincoln. Offering a total living space of 1,560 ft² (145 m²), the four-bedroom property presents a significant opportunity for renovation and modernisation to elevate its potential. The existing structure requires comprehensive refurbishment to meet contemporary standards. Additionally, there's an intriguing prospect to transform the old smithy/washhouse at the rear into further living quarters, pending necessary planning approvals. This property is being sold with no chain, making it an appealing option for investors or those looking to create their ideal home.

Investment Analysis

(NG23 area)

Below Market Value

This property is priced -20.6% below area average per sq ft

-20.6%
Potential saving
This Property
£210/sq ft
Area Average
£265/sq ft

Renovation Potential

Medium Refurb
Est. Renovation Cost
£40,000 - £60,000
Target Value
£450,283
10% above area average per sq ft
Potential ROI
+17.0%
After renovation
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
17
Average per month
Market Turnover
9%
Properties sold annually

Local Market Trend (NG23)

Area prices are stable by -1.7% over the last 12 months
3 year growth: -8.1%
5 year growth: +12.0%
Investment Disclaimer: Analysis based on NG23 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

Lancaster House, Eagle Road, Spalford, Newark
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Mortgage Calculator

£
£
£
%
%
years

Current average 2-year fixed rate is 3.91%

Current average variable rate is 6.62%

Monthly Repayments
£1,151
Based on a loan of £243,750 over 30 years at 3.91% 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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