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Mill Lane, Legbourne, LN11

East Midlands

£190,000Guide Price

Listed on 15/07/2026

Property details

Bedrooms
4
Type
Detached
Area
1507 sqft

Description

This unique property, set in the desirable village of Legbourne near the scenic Lincolnshire Wolds, presents a remarkable investment opportunity with significant renovation potential. The Mill has undergone various enhancements over the years, including lime plastered walls, bespoke wooden sash windows, and flagstone flooring on the ground floor which features underfloor heating. The mill cap has been meticulously rebuilt, and all floors have been replaced using quality traditional joinery that showcases chunky pine beams and reclaimed pine floorboards. The extension of the mill tower creates an inviting open-plan area with a charming galley kitchen and a spacious living area complete with a log burner. Large double patio doors lead out to a private garden with a York stone flagged patio, perfect for outdoor relaxation by the river. While this property is already appealing, it requires some refurbishment to restore its full charm—specifically repairs to the wraparound balcony and updates throughout to meet modern standards. With five creatively designed floors offering versatile spaces for bedrooms or additional living areas, this property is ready for new owners to infuse their personal touch. The combination of historical character and renovation needs presents an exciting canvas for those looking to invest in a distinctive home.

Investment analysis

(LN11 area)

Below Market Value

This property is priced -43.1% below area average per sq ft

-43.1%
Potential saving
This Property
£126/sq ft
Area Average
£221/sq ft
Avg Rent (weekly)
£176
Avg Yield
3.2%

Renovation Potential

Medium Refurb
Est. Renovation Cost
£45,000 - £70,000
Target Value
£367,098
10% above area average per sq ft
Potential ROI
+41.2%
After renovation
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
22
Average per month
Market Turnover
4%
Properties sold annually

Local Market Trend (LN11)

Area prices are falling by -2.5% over the last 12 months
3 year growth: -1.9%
5 year growth: +6.3%
Investment Disclaimer: Analysis based on LN11 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

Mill Lane, Legbourne, LN11
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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
£718
Based on a loan of £142,500 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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