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Gorse Lane, Grantham NG31

East Midlands

£250,000
Listed on 04/04/2026

Property Details

Bedrooms
3
Type
Detached Bungalow
Area
1203 sqft

Description

This Grantham bungalow presents a valuable opportunity for buyers looking to unlock significant potential and create their ideal living space. Nestled on an expansive plot, the property boasts beautiful views while being conveniently located near town amenities and with excellent connectivity to the A1 and surrounding regions. With its generous size, this site is perfect for those wishing to develop a unique residence tailored to modern needs. Originally designed as a three-bedroom home, the layout can be reconfigured (pending planning permission) to reflect contemporary preferences. The entrance hall leads into a sizable living room equipped with a fireplace and access to the rear garden, offering a warm and inviting atmosphere. The separate dining room and kitchen invite creative redesign possibilities, potentially transforming them into an open-plan kitchen/diner that maximizes scenic vistas. Accommodating three double bedrooms alongside a family bathroom, the internal space is ripe for renovation. Additional features such as a utility room and convenient WC further enhance functionality. This property requires comprehensive refurbishment including a new heating system, kitchen, bathroom, flooring throughout, window replacements, and complete decoration. With ample parking available and significant room for transformation, this project appeals to those eager to craft their own vision from the ground up.

Investment Analysis

(NG31 area)

Below Market Value

This property is priced -7.8% below area average per sq ft

-7.8%
Potential saving
This Property
£208/sq ft
Area Average
£225/sq ft
Avg Rent (weekly)
£176
Avg Yield
4.0%

Renovation Potential

Heavy Refurb
Est. Renovation Cost
£50,000 - £80,000
Target Value
£298,139
10% above area average per sq ft
Potential ROI
-9.7%
After renovation
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
62
Average per month
Market Turnover
18%
Properties sold annually

Local Market Trend (NG31)

Area prices are falling by -3.6% over the last 12 months
3 year growth: +0.4%
5 year growth: +12.2%
Investment Disclaimer: Analysis based on NG31 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

Gorse Lane, Grantham NG31
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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
£885
Based on a loan of £187,500 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

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