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Broadgate Lane, Newark, NG23

East Midlands

£700,000

Listed on 02/07/2026

Property details

Bedrooms
4
Type
Detached
Area
6158 sqft

Description

This expansive residential development site in the desirable village of Kelham spans approximately 2.59 acres and represents a unique investment opportunity. With full planning consent granted for converting a historic barn into an impressive 4,500 sq ft principal residence, this property seamlessly combines heritage with modern living potential. Significant groundwork has already been laid, including infrastructure that supports an expedited build process. Adjacent to the barn, a fully converted two-bedroom annex with a triple garage offers immediate income potential, currently being utilized as living space. Furthermore, the premises include an original basement swimming pool area ripe for restoration or redesign, enhancing leisure options on-site. A separate former pump house provides additional versatile space for wellness or accommodation purposes, subject to necessary permissions. The property is equipped with essential infrastructure, including an operational ground source heating system serving both the annex and future principal residence plans. Excellent utilities such as mains water and a three-phase electrical supply are already in place. Nestled in a private and established location, the grounds are abundant with possibilities for landscaping or equestrian use without Tree Preservation Orders restricting development. This property not only presents substantial value already established but also holds enormous potential for future development within its semi-rural setting close to Newark and Nottingham. This landmark conversion project awaits your vision to create an extraordinary home that marries historical charm with luxurious modern amenities.

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Investment analysis

(NG23 area)

Below Market Value

This property is priced -57.5% below area average per sq ft

-57.5%
Potential saving
This Property
£114/sq ft
Area Average
£267/sq ft
Avg Rent (weekly)
£236
Avg Yield
2.6%

Renovation Potential

Medium Refurb
Est. Renovation Cost
£250,000 - £400,000
Target Value
£1,810,637
10% above area average per sq ft
Potential ROI
+64.6%
After renovation
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
17
Average per month
Market Turnover
8%
Properties sold annually

Local Market Trend (NG23)

Area prices are falling by -2.9% over the last 12 months
3 year growth: -6.2%
5 year growth: +6.7%
Investment Disclaimer: Analysis based on NG23 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

Broadgate Lane, Newark, NG23
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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
£2,645
Based on a loan of £525,000 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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