High Street, Cherry Willingham LN3
East Midlands
£240,000
Listed on 10/10/2026
Listed on 10/10/2026
The listing
Property details
Bedrooms
3Type
CottageArea
1018 sqftFeatures
- Garage
- Garden
- Parking
Description
This three-bedroom cottage in Cherry Willingham occupies a plot of approximately 0.37 acre and is offered with an existing outline consent for two semi-detached houses to the rear. The consent, granted in 2023, is approaching expiry; the vendor is seeking an extension, and buyers should confirm the current planning position and requirements independently. The existing house also requires comprehensive modernisation, with possible scope to extend subject to the necessary permissions and consents.
The accommodation includes a lean-to conservatory entrance, kitchen, pantry and utility area, ground-floor shower room, two reception rooms and three first-floor bedrooms. A driveway and garage sit alongside the house. The garage is understood to require demolition to provide vehicle access to the rear plot.
The village has local shops, schools, pubs and community facilities, with road connections towards Lincoln and the wider area via the Lincoln Eastern Bypass, A158 and A46. Mains services are available, and the property has gas-fired central heating. The freehold site may suit a purchaser considering renovation alongside the consented development, subject to confirming planning, access and other professional requirements.
WHOTS analysis
Our WHOTS verdict
An internal assessment of the opportunity to acquire, improve and create value.
45out of 100
Grade ELow opportunity
Confidence: MEDIUM
The asking price is slightly below the local average per square foot, and the 0.37-acre plot with outline consent for two homes gives this listing a distinctive development angle. The existing three-bedroom cottage is also a substantial renovation canvas: visible rooms have worn, dated finishes, the galley kitchen and shower room need modernising, and the overgrown rear garden offers scope for a major clear-up. The planning position and any further development ideas need checking, particularly as the consent is approaching expiry and an extension is being sought.
The main constraint is the project maths: the £240,000 asking price plus the £50,000–£85,000 renovation range puts the combined cost at roughly £290,000–£325,000, stretched against the local benchmark for a property of this floor area. That benchmark is not a forecast of the renovated value, but it makes the economics difficult to justify on the cottage alone. Overall, this is a low-opportunity result despite the land and planning potential.
Key opportunities
- The 0.37-acre plot and stated outline consent for two rear homes offer a specific development route, subject to confirming the current planning position and delivery requirements.
- The existing three-bedroom cottage provides scope for a full interior transformation, including modernising the galley kitchen and shower room and refreshing the visible living and bedroom spaces.
- Clearing and managing the established, overgrown rear garden could make the plot more usable and help define the relationship between the cottage and rear land.
Key risks
- Worn finishes across the visible rooms, dated fittings and substantial garden clearance make this a full-scale programme; the £50,000–£85,000 works range needs careful budgeting and scheduling rather than a cosmetic-refresh allowance.
- At £240,000 plus the stated works range, the combined cost is stretched against the local benchmark for this floor area, so the cottage’s economics are weak without value beyond that benchmark.
- The outline consent is approaching expiry and an extension is being sought; confirm the current permission, access arrangements and requirements before relying on the rear development opportunity.
- Expect total exposure near £307,500 before you finish, with refurbishment in the region of £67,500 — around 18% above what similar-sized stock commands locally today; post-works value sits outside our data.
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Current average 2-year fixed rate is 4.45%
Current average variable rate is 6.60%
Monthly Repayments
£907
Based on a loan of £180,000 over 30 years at 4.45% interest
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