Ullswater, Penrith
North East
£900,000
Listed on 14/10/2026
Listed on 14/10/2026
The listing
Property details
Bedrooms
5Type
DetachedArea
3281 sqftDescription
This detached five-bedroom house occupies an elevated position in the Ullswater valley and is set within grounds of approximately 3.5 acres. The accommodation includes a large dual-aspect lounge with a bay window and stone fireplace, a separate dining room, an office and a kitchen with dining space, an AGA, pantry, utility room and store. Upstairs are five bedrooms, a family bathroom and an en suite to the principal bedroom. Period details include fireplaces, built-in storage and large windows.
Outside, a driveway provides parking and leads to a garage. The grounds include mature trees, planted borders and a broad stone terrace, alongside several outbuildings, including storage rooms, two garden rooms and a detached WC block. The house is offered separately or with Gatesgarth Cottage, a detached two-bedroom bungalow with its own garden. The property is unoccupied and the particulars state that comprehensive renovation and repair are required. Mains water and electricity are connected, with oil central heating and a septic tank. Telephone service is available, but broadband is not.
WHOTS analysis
Our WHOTS verdict
An internal assessment of the opportunity to acquire, improve and create value.
42out of 100
Grade ELow opportunity
Confidence: MEDIUM
Gatesgarth offers a substantial canvas: a five-bedroom detached house with generous reception rooms, period features including a striking stone fireplace, and around 3.5 acres of mature grounds above Ullswater. The dated interiors, worn flooring and tired kitchen and bathrooms give a buyer scope to reshape and update the house while making the most of its character, views and outbuildings. The photographed interiors also show local ceiling staining and damaged finishes to investigate; the roof and outbuildings look weathered, though no major structural movement is apparent in the available views.
The price is the main constraint: at £274/sq ft, the £900,000 asking price is above the local £255/sq ft average, rather than a discounted entry point. Adding the £65,000–£110,000 renovation range puts purchase plus works at roughly £965,000–£1,010,000, stretched against the £837,147 implied local average for this floor area. That benchmark is not a post-renovation value forecast, so the project’s scale and eventual value need careful assessment.
Key opportunities
- Rework the flexible, multi-room layout and comprehensively update the dated interiors to create a home tailored to a buyer’s needs.
- Retain and feature the substantial stone fireplace, built-in storage and large windows while refreshing the reception rooms and bedrooms.
- Make the most of the 3.5-acre grounds, terrace, garage and range of outbuildings, subject to checking their condition and any necessary consents.
Key risks
- Worn finishes across the photographed rooms, local ceiling staining and damaged areas, plus weathering to the roof and outbuildings, need investigation and could broaden the works.
- The £65,000–£110,000 works range makes this a substantial budget and programme commitment across the house and associated buildings, not a cosmetic refresh.
- At £900,000 plus the stated works range, the spend is stretched against the £837,147 local-average benchmark for this floor area; that comparison is not a renovated-value forecast.
- Budget around £987,500 when purchase and the £87,500 refurb range are added together, leaving a gap of around 15% versus area norms for this sqft; post-works value sits outside our data.
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Illustrative repayments based on the asking price, not a mortgage offer.
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Current average 2-year fixed rate is 4.45%
Current average variable rate is 6.60%
Monthly Repayments
£3,400
Based on a loan of £675,000 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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