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The Old Blacksmiths Den, Carpe Diem Nook, Spilsby - Image 1
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The Old Blacksmiths Den, Carpe Diem Nook, Spilsby

East of England

£200,000

Listed on 29/08/2026

The listing

Property details

Bedrooms
2
Type
Detached Bungalow
Area
670 sqft

Description

This recently converted two-bedroom bungalow, formerly the old blacksmith's workshop, presents a unique opportunity for buyers looking to personalize their new home. Nestled in a tranquil and private location within the heart of Spilsby, this property has undergone significant conversion works, allowing the new owner to complete the final fit-out according to their individual taste and requirements. The planned layout includes an open-plan lounge/diner featuring an impressive vaulted ceiling and an arched gable-end window, complemented by a kitchen, two double bedrooms, and a bathroom/shower room. The property is equipped with fully uPVC double-glazed windows and doors, along with a newly installed air source underfloor heating system. Full planning consent for the conversion from an outbuilding to a two-bedroom bungalow has been granted under planning reference S/165/01662/20, with ongoing works progressing under Building Regulations reference 165/02705/22/FP. Current works include plastering, decoration, first-fix plumbing, first and second-fix electrics, and completion of the air source underfloor heating system. Remaining tasks involve the installation of the kitchen and bathroom, internal woodwork and doorways, flooring, and obtaining final Building Control approval. Copies of the planning permission are accessible via the East Lindsey Planning Portal.

WHOTS analysis

Our WHOTS verdict

An internal assessment of the opportunity to acquire, improve and create value.

27out of 100
Grade ELow opportunity

Confidence: MEDIUM

This two-bedroom bungalow conversion in Spilsby presents a unique opportunity for personalization, allowing buyers to finish a project that has already made significant strides. The property, formerly a blacksmith's workshop, features a striking open-plan design with vaulted ceilings and an impressive gable-end window, which could become a stunning focal point once completed.

However, while the asking price of £200,000 may seem attractive at first glance, it is priced above the local market average at £299/sqf versus £226/sqf, which raises concerns about overall value. The incomplete state of the property, with essential works remaining such as installation of the kitchen and bathroom, means that significant investment will be required to bring this home to full functionality. Yet, with the right vision and budget, this property could transform into a charming residence in a desirable location.

Key opportunities

  • Completion of the interior allows for a tailored finish, including the potential for an open-plan living space.
  • Unique architectural features such as vaulted ceilings and large windows enhance the property's appeal.
  • Situated in a sought-after market town, the location adds to the property's long-term value potential.

Key risks

None recorded.

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Map

Location

The Old Blacksmiths Den, Carpe Diem Nook, Spilsby
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Finance

Mortgage calculator

Illustrative repayments based on the asking price, not a mortgage offer.

£
£
£
%
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years

Current average 2-year fixed rate is 4.45%

Current average variable rate is 6.60%

Monthly Repayments
£756
Based on a loan of £150,000 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.

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