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Chapel Street, Boston PE21

East of England

£495,000

Listed on 07/07/2026

Property details

Bedrooms
12
Type
Detached

Description

Nestled in the historic market town of Boston, this property offers a unique investment opportunity in a conservation area characterized by high-density Victorian residences. Comprising three distinct elements, the site includes a semi-derelict two-storey Victorian house at 51 Wormgate, which spans approximately 165sqm and is in need of substantial refurbishment or possible demolition. Adjacent to this, the former Peacock Inn at 53 Wormgate presents a formidable project with its expansive two-storey layout of around 318sqm that requires complete renovation, featuring eight bedrooms and multiple functional areas including a bar and kitchen. The inclusion of three garages and a beer garden enhances its appeal for transformation into residential units or commercial use. Lastly, the former Bluecoat School at 2 Chapel Street adds another layer with approximately 120sqm of space and access to additional garages, presenting further investment potential. This diverse offering could be a rewarding challenge for those looking to revitalize properties in an attractive location.

Investment analysis

(PE21 area)
Area Average
£188/sq ft
Avg Rent (weekly)
£176
Avg Yield
4.8%

Renovation Potential

Heavy Refurb
Est. Renovation Cost
£300,000 - £500,000
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
8%
Properties sold annually

Local Market Trend (PE21)

Area prices are falling by -6.8% over the last 12 months
3 year growth: -1.0%
5 year growth: +7.3%
Investment Disclaimer: Analysis based on PE21 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

Chapel Street, Boston PE21
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Mortgage calculator

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£
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years

Current average 2-year fixed rate is 4.45%

Current average variable rate is 6.60%

Monthly Repayments
£1,870
Based on a loan of £371,250 over 30 years at 4.45% 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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