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Challeymead, Melksham

South West

£500,000

Listed on 26/06/2026

Property details

Bedrooms
4
Type
Cottage
Area
2421 sqft

Description

This converted former sack mill, steeped in history since the early 1800s, presents an intriguing opportunity for investors or homeowners looking to make their mark. The property boasts expansive gardens of around one-third of an acre and includes a heated swimming pool, alongside land with exclusive fishing rights on the River Avon. With its two-storey layout, the cottage offers generous room dimensions and a configuration that can be modernized or reimagined to enhance its value. Upon entering, you'll find a central hallway leading to various ground floor rooms and an inviting staircase to the upper level. Currently arranged as three well-sized bedrooms and a study—each capable of accommodating double beds—the ground floor also features a separate WC and direct access to an integral triple garage complete with utilities. The first floor hosts the kitchen and living areas along with the master bedroom. The spacious sitting room benefits from dual aspect views and access to a balcony overlooking the charming rear garden. Measuring 16’ 11” x 20’ 10”, this living space is ideal for family gatherings, showcasing period characteristics such as wooden beams and a feature fireplace with an open fire. The adjacent kitchen offers fitted units and has potential for enhancement through proposed modifications that could create an open-plan kitchen-diner/family room—an appealing prospect for modern family living. Externally, the cottage stands back from the road amidst other period properties, featuring off-street parking primarily laid to gravel for easy upkeep. The expansive rear garden offers various landscaping possibilities along with multiple seating options for year-round enjoyment. Additionally, there’s a substantial swimming pool equipped with heating facilities alongside changing rooms in a double-glazed pool house. Challymead is nestled between Broughton Gifford, Holt, and Melksham, benefiting from convenient access to both picturesque countryside and transport links. Nearby amenities include reputable primary schools, pubs, sports clubs, and community spaces that regularly host events fostering local spirit.

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Investment analysis

(SN12 area)

Below Market Value

This property is priced -34.1% below area average per sq ft

-34.1%
Potential saving
This Property
£207/sq ft
Area Average
£313/sq ft
Avg Rent (weekly)
£259
Avg Yield
4.1%

Renovation Potential

Medium Refurb
Est. Renovation Cost
£60,000 - £90,000
Target Value
£834,482
10% above area average per sq ft
Potential ROI
+41.4%
After renovation
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
29
Average per month
Market Turnover
16%
Properties sold annually

Local Market Trend (SN12)

Area prices are stable by -0.9% over the last 12 months
3 year growth: -7.4%
5 year growth: +11.4%
Investment Disclaimer: Analysis based on SN12 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

Challeymead, Melksham
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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
£1,889
Based on a loan of £375,000 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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