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Wellington Street, Matlock, DE4

East Midlands

£800,000
Listed on 23/01/2026

Property Details

Bedrooms
9
Type
Detached house
Area
3972 sqft

Description

This distinctive former stone schoolhouse, now converted into apartments, presents a unique investment opportunity in Matlock. Located conveniently near local amenities such as restaurants, shops, and public transport options, this property not only serves well for long-term rentals or holiday lets but also harbors potential for further development to create additional self-contained units. The property features ample rear parking space suitable for up to nine vehicles. The main three-bedroom apartment boasts an impressive layout filled with character, featuring a spacious lounge/dining area perfect for entertaining, alongside two modern shower rooms and an ensuite. Additionally, there are three separate two-bedroom apartments that maintain their own privacy while generating rental income. The elevated front patio area offers remarkable views of the surrounding landscape, while the rear includes various outbuildings for extra storage needs. Given the existing rental income and the capacity for enhancement, this property is worthy of a closer look to fully appreciate its scope.

Investment Analysis

(DE4 area)

Below Market Value

This property is priced -33.6% below area average per sq ft

-33.6%
Potential saving
This Property
£201/sq ft
Area Average
£303/sq ft
Avg Rent (weekly)
£289
Avg Yield
4.3%

Renovation Potential

Medium Refurb
Est. Renovation Cost
£60,000 - £90,000
Target Value
£1,324,960
10% above area average per sq ft
Potential ROI
+48.9%
After renovation
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
34
Average per month
Market Turnover
53%
Properties sold annually

Local Market Trend (DE4)

Area prices are falling by -3.1% over the last 12 months
3 year growth: -2.5%
5 year growth: +11.1%
Investment Disclaimer: Analysis based on DE4 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

Wellington Street, Matlock, DE4
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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
£2,885
Based on a loan of £600,000 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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