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Mill Street, Wem, Shrewsbury SY4 - Image 1

Mill Street, Wem, Shrewsbury SY4

West Midlands

£500,000
Listed on 12/12/2025

Property Details

Bedrooms
N/A
Type
Detached house

Description

This expansive 11.95-acre parcel of grassland is located in the center of Wem, approximately 10 miles north of Shrewsbury, offering noteworthy development opportunities subject to planning permissions. Currently utilized as an amenity space and frequented by local dog walkers, the land is surrounded by residential areas, presenting a prime chance for prospective investors or developers looking to tap into the housing demand in this traditional market town. There is significant potential to engage with local authorities concerning comprehensive redevelopment projects and even leverage this land for additional development on adjacent sites, potentially introducing community-focused amenities such as sports facilities. Its strategic location within Wem ensures easy access to local services and infrastructure, making it a compelling investment for future residential or mixed-use developments.

Investment Analysis

(SY4 area)
Area Average
£279/sq ft
Avg Rent (weekly)
£224
Avg Yield
3.4%

Renovation Potential

Medium Refurb
Est. Renovation Cost
£150,000 - £300,000
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
24
Average per month
Market Turnover
15%
Properties sold annually

Local Market Trend (SY4)

Area prices are stable by +1.4% over the last 12 months
3 year growth: 5.2%
5 year growth: 24.1%
Investment Disclaimer: Analysis based on SY4 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 Street, Wem, Shrewsbury SY4
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Mortgage Calculator

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£
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years

Current average 2-year fixed rate is 4.19%

Current average variable rate is 6.78%

Monthly Repayments
£1,832
Based on a loan of £375,000 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