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Locks Lane, Wantage

South East

£1,500,000

Listed on 03/06/2026

Property details

Bedrooms
5
Type
Detached
Area
3287 sqft

Description

Mill House, a distinguished stone farmhouse built in 1899 by notable miller Leonard Willoughby, presents an exceptional opportunity for restoration and development. Nestled within 1.82 acres of lush grounds, this property has been cherished by only two families over its long history, making it a rare find on the market after 72 years. The extensive gardens feature mature plantings and a Victorian kitchen-garden, while the surrounding woodland and banks of the Letcombe brook provide tranquil natural surroundings that are rich in local wildlife. Internally, Mill House boasts generous living spaces with original Victorian features including wood and stone flooring throughout the three levels. Although well-preserved, the home is poised for modernisation and personalisation to unlock its full potential. The ground floor offers elegant reception areas along with a kitchen that could benefit from an update. Beyond the dining room lies a cellar accessible from outside which could be transformed into functional space. The first floor hosts four ample-sized bedrooms, each adorned with distinct original fireplaces and views that enhance their appeal. The second floor holds great promise; previously used as two bedrooms, it has now been adapted into a substantial self-contained studio complete with its own bathroom — ideal for various uses such as an art studio or guest suite, pending necessary approvals for further enhancement. Additional features include a large double garage and ample parking space, contributing to the property's versatility. While the house enjoys seclusion, it remains just minutes from Wantage’s vibrant town centre. For those looking to invest in a charming property with substantial renovation potential in a picturesque setting, Mill House is ideally positioned to be transformed into a contemporary family residence while preserving its historic charm.

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Investment analysis

(OX12 area)

Above Market Value

This property is priced +26.1% above area average per sq ft

+26.1%
This Property
£456/sq ft
Area Average
£362/sq ft
Avg Rent (weekly)
£347
Avg Yield
4.4%

Renovation Potential

Medium Refurb
Est. Renovation Cost
£150,000 - £250,000
Target Value
£1,308,703
10% above area average per sq ft
Potential ROI
-25.2%
After renovation
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
28
Average per month
Market Turnover
9%
Properties sold annually

Local Market Trend (OX12)

Area prices are falling by -2.9% over the last 12 months
3 year growth: -5.1%
5 year growth: +4.7%
Investment Disclaimer: Analysis based on OX12 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

Locks Lane, Wantage
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Mortgage calculator

£
£
£
%
%
years

Current average 2-year fixed rate is 4.45%

Current average variable rate is 6.60%

Monthly Repayments
£5,667
Based on a loan of £1,125,000 over 30 years at 4.45% 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.

Stamp duty calculator

Next Steps

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