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Morton North Drove, Bourne, Lincolnshire PE10 - Image 1
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Morton North Drove, Bourne, Lincolnshire PE10

East of England

£175,000
Listed on 21/04/2026

Property Details

Bedrooms
N/A
Type
Land

Description

This property presents a rare investment opportunity to convert a group of traditional red brick barns into three residential units, each featuring three bedrooms and three bathrooms. Set on approximately 0.64 hectares (1.59 acres) in a tranquil rural location, the site is bordered by open Fenland and other quaint cottages, providing a serene setting for development. While the previous planning permission for conversion has lapsed, potential buyers can explore reapplying or negotiating a subject to planning sale. With a total area of 440.20m2 (4,736.27 sqft) available for renovation, this project offers significant scope to create modern dwellings that maintain the charm of their agricultural roots. Additionally, included with the barns is surrounding land featuring an old storage building that could be repurposed for construction materials or converted into garages or stables as part of the development. The site will require new independent services for water and electricity as well as a foul water treatment plant, which adds to its refurbishment requirements but also provides an opportunity for value addition through thoughtful renovation.

Investment Analysis

(PE10 area)
Area Average
£253/sq ft
Avg Rent (weekly)
£213
Avg Yield
4.0%

Renovation Potential

Heavy Refurb
Est. Renovation Cost
£150,000 - £250,000
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
31
Average per month
Market Turnover
11%
Properties sold annually

Local Market Trend (PE10)

Area prices are stable by -1.0% over the last 12 months
3 year growth: -2.3%
5 year growth: +7.4%
Investment Disclaimer: Analysis based on PE10 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

Morton North Drove, Bourne, Lincolnshire PE10
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Mortgage Calculator

£
£
£
%
%
years

Current average 2-year fixed rate is 3.91%

Current average variable rate is 6.62%

Monthly Repayments
£620
Based on a loan of £131,250 over 30 years at 3.91% 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

This calculation uses non-residential (land/commercial) tax rates.

Price History

+9.4% since listed
£175,000+£15,000(+9.4%)
22/08/2025
Current price
£160,000Initial listing
09/05/2024

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