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Romany Road, Lowestoft

East of England

£950,000
Listed on 02/04/2026

Property Details

Bedrooms
3
Type
Detached
Area
2648 sqft

Description

Nestled in the desirable Oulton Broad area, this unique residence presents a rare opportunity for buyers looking to invest in a property with both historical significance and substantial potential for enhancement. Originally constructed in 1968 by the Truman family, who were pioneers in hovercraft technology, this home carries a rich legacy while offering scope for modernisation and expansion. The extensive grounds span approximately 300ft from the waterfront to the front boundary, adorned with mature trees that ensure privacy. The property features a significant steel-piled mooring dock, suitable for two large motorboats, and includes rights extending 50ft from the bank—ideal for water enthusiasts. Internally, there is considerable potential to reconfigure existing spaces or convert under croft areas into additional living accommodation. Architectural plans are available that suggest extending the dining room to create extra bedrooms and bathrooms (subject to planning approval). Natural light floods through mid-century modern windows into the impressive entrance hall, leading to three well-sized bedrooms and an elegant dining room characterized by a stunning cedar panelled ceiling. The open-plan living areas are designed for contemporary lifestyles and include a bespoke kitchen equipped with high-end appliances. With its elevated position offering picturesque views over the broads, residents will enjoy tranquility throughout the day. This property not only offers an exceptional living experience but also encompasses significant potential for refurbishment and enhancement, making it an investment worth considering.

Investment Analysis

(NR32 area)

Above Market Value

This property is priced +48.4% above area average per sq ft

+48.4%
This Property
£359/sq ft
Area Average
£242/sq ft
Avg Rent (weekly)
£181
Avg Yield
3.9%

Renovation Potential

Medium Refurb
Est. Renovation Cost
£60,000 - £100,000
Target Value
£704,169
10% above area average per sq ft
Potential ROI
-32.9%
After renovation
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
40
Average per month
Market Turnover
10%
Properties sold annually

Local Market Trend (NR32)

Area prices are falling by -3.8% over the last 12 months
3 year growth: -6.5%
5 year growth: +6.3%
Investment Disclaimer: Analysis based on NR32 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

Romany Road, Lowestoft
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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
£3,365
Based on a loan of £712,500 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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