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Old Mill Lane, Formby, Merseyside L37 - Image 1
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Old Mill Lane, Formby, Merseyside L37

North West

£240,000
Listed on 05/03/2026

Property Details

Bedrooms
3
Type
Semi-detached house
Area
925 sqft

Description

This three-bedroom house located on the sought-after Old Mill Lane in Formby offers a promising canvas for renovation and personalization. The property features spacious interiors with two separate reception rooms, allowing for flexible use—whether you wish to create a family lounge, a home office, or an entertainment space. Designed for family living, the existing layout provides comfort while also showcasing significant potential for modern updates. Imagine reconfiguring the kitchen into an open-plan area that enhances connectivity with the garden, ideal for contemporary lifestyles. On the upper floor, there are three well-proportioned bedrooms filled with natural light, perfect for a growing family. The existing family bathroom is functional but ripe for a stylish overhaul to suit modern tastes. Externally, this property benefits from front and rear gardens that can easily be transformed into attractive outdoor spaces tailored to your vision—whether that be a tranquil retreat or a vibrant play area. Additionally, the inclusion of a garage and private driveway adds practical value by offering off-road parking and extra storage. With the added advantage of 'no chain', this home presents an easier transition into ownership without the common delays of property transactions. Located close to Formby Village’s array of independent shops and cafes and with access to reputable schools, this home not only supports daily living but also holds remarkable investment potential as you reimagine it into your ideal residence.

Investment Analysis

(L37 area)

Below Market Value

This property is priced -11.0% below area average per sq ft

-11.0%
Potential saving
This Property
£259/sq ft
Area Average
£292/sq ft
Avg Rent (weekly)
£334
Avg Yield
4.2%

Renovation Potential

Medium Refurb
Est. Renovation Cost
£15,000 - £30,000
Target Value
£296,703
10% above area average per sq ft
Potential ROI
+9.9%
After renovation
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
20
Average per month
Market Turnover
47%
Properties sold annually

Local Market Trend (L37)

Area prices are falling by -6.2% over the last 12 months
3 year growth: -1.7%
5 year growth: +7.5%
Investment Disclaimer: Analysis based on L37 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

Old Mill Lane, Formby, Merseyside L37
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Mortgage Calculator

£
£
£
%
%
years

Current average 2-year fixed rate is 4.06%

Current average variable rate is 6.81%

Monthly Repayments
£866
Based on a loan of £180,000 over 30 years at 4.06% 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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