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Morton North Drove, Bourne, Lincolnshire PE10 - Image 1
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Morton North Drove, Bourne, Lincolnshire PE10 - Image 3

Morton North Drove, Bourne, Lincolnshire PE10

East of England

£175,000
Listed on 11/12/2025

Property Details

Bedrooms
N/A
Type
Detached house

Description

This property represents a unique investment opportunity featuring a collection of traditional red brick barns set on 1.07 hectares (2.65 acres) of land, ready for conversion into three residential units. Each proposed dwelling will consist of three bedrooms and three bathrooms, a layout that appeals to families and individuals alike. Located in a tranquil rural setting on a quiet no-through road, the site is flanked by open Fenland and provides an ideal backdrop for those seeking a peaceful lifestyle while remaining accessible to nearby amenities in Morton, Bourne, Spalding, and Peterborough. Although planning permission for conversion was granted in February 2022, it has since lapsed; however, there is potential for a new application or purchase subject to planning approval. The existing structures boast ample square footage—over 4,700 sqft—offering significant space to redesign into modern homes while preserving their rustic charm. Additional land includes an old timber storage building that could be repurposed for storage during renovations or modified for other uses such as garages or stables. Essential services will need to be established by the buyer, including water supply options and foul water treatment systems. This property is subject to certain covenants ensuring the integrity of the surrounding area. Overall, this project holds substantial renovation potential and could yield significant returns with careful planning and execution.

Investment Analysis

(PE10 area)
Area Average
£252/sq ft
Avg Rent (weekly)
£228
Avg Yield
4.4%

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
34
Average per month
Market Turnover
12%
Properties sold annually

Local Market Trend (PE10)

Area prices are rising by +2.1% over the last 12 months
3 year growth: 1.5%
5 year growth: 15.6%
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 4.19%

Current average variable rate is 6.78%

Monthly Repayments
£641
Based on a loan of £131,250 over 30 years at 4.19% 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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YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE