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3 Nunnery Cottage, Nunnery Place, Thetford, Norfolk IP24 2PZ - Image 1
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3 Nunnery Cottage, Nunnery Place, Thetford, Norfolk IP24 2PZ

East of England

£140,000

Listed on 12/05/2026

Property details

Bedrooms
3
Type
Cottage
Area
1518 sqft

Description

This impressive end-terrace cottage, steeped in history and dating back to the late 16th century, offers a rare investment opportunity for those looking to make their mark. The Grade II listed property spans approximately 154 sq/m across two stories and boasts many original period features, reflecting its rich heritage as part of a former monastic precinct. Despite its charm, the cottage requires significant modernisation and repair work to enhance its appeal and functionality, making it ideal for cash buyers or investors with renovation experience. Set on a manageable 0.1 acre plot, there is potential for further development in the tranquil surroundings near the River Thet, just half a mile from the town centre. The arrangement includes three bedrooms, ample living spaces such as a sitting room and dining room, alongside practical areas like a utility room and pantry. With vacant possession available after being previously let to long-term tenants, this property presents an exciting project for those ready to restore and breathe new life into it.

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Investment analysis

(IP24 area)

Below Market Value

This property is priced -64.3% below area average per sq ft

-64.3%
Potential saving
This Property
£92/sq ft
Area Average
£259/sq ft
Avg Rent (weekly)
£269
Avg Yield
5.5%

Renovation Potential

Heavy Refurb
Est. Renovation Cost
£50,000 - £80,000
Target Value
£431,894
10% above area average per sq ft
Potential ROI
+96.3%
After renovation
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
25
Average per month
Market Turnover
15%
Properties sold annually

Local Market Trend (IP24)

Area prices are falling by -2.1% over the last 12 months
3 year growth: -5.8%
5 year growth: +8.1%
Investment Disclaimer: Analysis based on IP24 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

3 Nunnery Cottage, Nunnery Place, Thetford, Norfolk IP24 2PZ
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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
£529
Based on a loan of £105,000 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

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