Worst House on the Street Logo
Eye Road, Peterborough PE1 - Image 1
Eye Road, Peterborough PE1 - Image 2
Eye Road, Peterborough PE1 - Image 3

Eye Road, Peterborough PE1

East of England

£40,000

Listed on 22/09/2026

The listing

Property details

Bedrooms
—
Type
Land

Features

  • Parking

Description

Sell New Group is offering a freehold building with an associated parcel of land and four parking spaces, within the Royal Court development just off Eye Road in Peterborough. The single-storey, semi-detached structure adjoins a neighbouring building and is described as predominantly brick-built beneath a pitched tiled roof. It is currently derelict and will require substantial refurbishment. The building was previously associated with consent for use as a bicycle store serving the development, but the proposed use was not implemented as intended. The current lawful use and planning history should be checked independently. Possible commercial uses, such as a salon, barber studio, office or creative workspace, are ideas for investigation only and would depend on planning and other required approvals. No permission for these alternatives is represented as being in place. The sale includes four parking spaces, although the land extent, boundaries, access rights and any restrictions need to be verified through the legal documents. The agent's CGI illustrates one possible commercial frontage but is conceptual only, not an approved scheme. Services and utilities have not been verified, and the agent has not provided a structural survey or confirmed the building's suitability for conversion. Buyers should make their own planning, legal, services and building-condition enquiries before proceeding.

WHOTS analysis

Our WHOTS verdict

An internal assessment of the opportunity to acquire, improve and create value.

34out of 100
Grade ELow opportunity

Confidence: LOW

This is a substantial conversion project rather than a straightforward house purchase: the brick building is derelict, with boarded openings, overgrown surroundings and weathered, uneven roof tiles. Its blank-canvas appeal is the chance to investigate a new layout and future use, with four parking spaces and a surfaced area adding practical flexibility. The listing suggests possible small commercial uses, but these are subject to planning and other required consents, and the building’s condition and suitability need proper assessment.

The overall opportunity scores 34/100 (grade E), reflecting limited investability and elevated risk. Floor area is missing, so value versus local £/sqf cannot yet be judged; the £40,000 headline price alone does not establish whether it is cheap or dear. No renovation range is available, so the scale and cost of the works remain to be established.

Key opportunities

  • Rework the single-storey building’s layout as a blank canvas, subject to confirming its condition and suitability.
  • Investigate potential small commercial or studio uses, with any change of use and alterations dependent on the necessary consents.
  • Make use of the four parking spaces and surfaced area, while clearing the overgrown vegetation to open up the site for inspection and improvement.

Key risks

  • The derelict building, covered openings and uneven, weathered roof tiles make this a full-scale refurbishment and investigation programme, not a cosmetic refresh; budget and timescale cannot be established until the structure and roof are assessed.
  • The listing provides no structural assessment or confirmation that the building is suitable for conversion, and proposed alternative uses would require the necessary consents.

Unlock the full analysis

Sign up to see the refurb profile, below-market value, yields, and local market trends for this and every other property that has them.

Sign up free

Already have an account? Sign in

Interested in similar properties?

Create an alert and we'll notify you when similar renovation opportunities are listed.

Sign in to create alert

Map

Location

Eye Road, Peterborough PE1
Loading map...

Finance

Mortgage calculator

Illustrative repayments based on the asking price, not a mortgage offer.

£
£
£
%
%
years

Current average 2-year fixed rate is 4.45%

Current average variable rate is 6.60%

Monthly Repayments
£151
Based on a loan of £30,000 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.

Tax

Stamp duty calculator

Indicative tax based on the asking price and the options you select.

This calculation uses non-residential (land/commercial) tax rates.

Services

Next steps

Explore services to help you with this property purchase.

Get help with this property

Financing, surveys and more – choose a service and we’ll connect you with our trusted partners.

Allcott Associates