4 Bed Semi-Detached House, Planning Permission, Lancaster, LA2 8NZ, £625,000

Back Lane, Wennington, Lancaster, LA2 8NZ - a month ago

Sold STC

Planning

~129 m²

+26 photos

ValuationOvervalued

Sold Prices	£106K - £975K
Sold Prices/m²	£1K/m² - £4.2K/m²

Square Metres	~129.26 m²
Price/m²	£4.8K/m²
Value Estimate	£258,514£258,514

End Value (After Refurb)	£450,250£450,250

Investment Opportunity

Cash In
Purchase Finance	Bridging LoanBridging Loan
Deposit (25%)	£156,250£156,250
Stamp Duty & Legal Fees	£51,200£51,200
Refurb Costs	£52,201£52,201
Bridging Loan Interest	£16,406£16,406
Total Cash In	£277,807£277,807

Cash Out
Monetisation	FlipRefinance & RentRefinance & Rent
Revaluation	£450,250£450,250
Mortgage (After Refinance)	£337,688£337,688
Mortgage LTV	75%75%
Cash Left In	£277,807£277,807
Equity	£112,563£112,563
Rent Range	£450 - £1,300£450 - £1,300
Rent Estimate	£756
Running Costs/mo	£1,578£1,578
Cashflow/mo	£-822£-822
Cashflow/yr	£-9,867£-9,867
Gross Yield	1%1%

Local Sold Prices

17 sold prices from £106K to £975K, average is £280K. £1K/m² to £4.2K/m², average is £2K/m².

Price	Date	Distance	Address	Price/m²	m²	Beds	Type
£550K	07/23	1.26 mi	Tatham Lodge, Low Street, Burton In Lonsdale, Carnforth, North Yorkshire LA6 3LF	£4,167	132	4	Detached House
£145K	12/20	1.48 mi	4, Highfield Terrace, Lower Bentham, Lancaster, North Yorkshire LA2 7EP	£1,408	103	4	Terraced House
£106K	02/21	1.48 mi	8, Highfield Terrace, Lower Bentham, Lancaster, North Yorkshire LA2 7EP	£1,039	102	4	Terraced House
£256K	05/23	1.48 mi	6, Victoria Buildings, Lower Bentham, Lancaster, North Yorkshire LA2 7EL	-	-	4	Terraced House
£975K	06/21	1.76 mi	The Courtyard, Thurland Castle, Tunstall Road, Tunstall, Carnforth, Lancashire LA6 2QR	-	-	4	Terraced House
£335K	06/21	2.19 mi	Morningside, Furness Drive, Bentham, Lancaster, North Yorkshire LA2 7BW	£3,131	107	4	Detached House
£280K	01/21	2.31 mi	1, Goodenber Crescent, Bentham, Lancaster, North Yorkshire LA2 7JF	£2,014	139	4	Semi-Detached House
£170K	08/21	2.33 mi	88, Main Street, Bentham, Lancaster, North Yorkshire LA2 7JA	£1,565	109	4	Terraced House
£145K	08/23	2.42 mi	50a, Main Street, Bentham, Lancaster, North Yorkshire LA2 7HN	-	-	4	Semi-Detached House
£299.9K	11/20	2.47 mi	5, Lakeber Close, Bentham, Lancaster, North Yorkshire LA2 7JL	£1,923	156	4	Detached House
£216K	12/20	2.53 mi	4, Wenning Avenue, Bentham, Lancaster, North Yorkshire LA2 7LR	£1,800	120	4	Terraced House
£252K	05/23	2.61 mi	14, Low Croft, Bentham, Lancaster, North Yorkshire LA2 7FD	£2,132	118	4	Detached House
£240K	03/21	2.73 mi	33, Springfield, Bentham, Lancaster, North Yorkshire LA2 7BA	£1,519	158	4	Detached House
£440K	10/23	2.73 mi	3, Springfield, Bentham, Lancaster, North Yorkshire LA2 7BA	£3,520	125	4	Detached House
£305K	11/20	2.77 mi	Green Bank, Slaidburn Road, Bentham, Lancaster, North Yorkshire LA2 7LT	£2,383	128	4	Detached House
£318K	12/22	2.8 mi	42, Springfield, Bentham, Lancaster, North Yorkshire LA2 7BE	£1,927	165	4	Semi-Detached House
£330K	10/20	2.82 mi	39, Springfield, Bentham, Lancaster, North Yorkshire LA2 7BE	£2,000	165	4	Detached House

Local Rents

4 rents from £450/mo to £1.3K/mo, average is £638/mo.

Rent	Date	Distance	Address	Beds	Type
£1,300	12/24	1.22 mi	-	4	Terraced House
£450	03/25	1.78 mi	-	2	Bungalow
£625	05/24	2.46 mi	Mill Gardens, Bentham	2	Flat
£650	04/24	2.47 mi	Main Street, Bentham, Lancaster	3	Flat

Local Area Statistics

Population in LA2	21,97921,979
Population in Lancaster	74,07574,075
Town centre distance	12.07 miles away12.07 miles away
Nearest school	1.60 miles away1.60 miles away
Nearest train station	1.39 miles away1.39 miles away

Rental demand	Tenant's marketTenant's market
Rental growth (12m)	-10%-10%
Sales demand	Buyer's marketBuyer's market
Capital growth (5yrs)	+17%+17%

Property History

Listed for £625,000

March 18, 2025

Floor Plans

Description

4 Bed Semi-Detached Barn Conversion +
Idyllic open countryside location +
Spacious dining kitchen, 2 reception rooms. +
Integral garage, (with planning permission for conversion into further living accommodation) +
Good sized gardens +
Ample private forecourt parking +
"B4RN” Hyperfast Broadband connected +
Full SUDG and oil fired central heating throughout. +

A lovely 4 bedroomed semi-detached barn conversion residence boasting a spacious dining kitchen extension with fabulous front garden aspect together with incorporating 2 reception rooms, separate utility, cloakroom, master bed en-suite, integral garage, (with planning permission for conversion into further living accommodation), good sized gardens and ample private forecourt parking and the benefit of a new roof. Situated in an idyllic open countryside location backing onto a small number of equally prestigious former farmstead conversion properties yet conveniently within only 12 miles of Lancaster and the M6. B4RN” Hyperfast Broadband connected. Bentham 2 miles, Hornby 5 Miles, Kirkby Lonsdale 7 miles approx. Planning: - To view full details go to: publicaccess.cravendc.gov.uk/online-applications and add the planning no: ZA23/24934/CPL into key words and search. Network / Broadband: “B4RN” Hyperfast Broadband connected. Please check the Ofcom website for available internet providers and outdoor mobile networks available from UK's main providers (this excludes 5G). Please Note: These results are predictions and not guaranteed and may also differ, subject to circumstances, e.g. precise location & network outage. Stone Built Planning No: - ZA23/24934/CPL to view full details go to: publicaccess.cravendc.gov.uk/online-applications

Agent Details

Richard Turner & Son, Bentham (Nr Lancaster),

01524 967488

Next Steps?

This deal was sourced from Rightmove. Contact the landlord/agent for a viewing now 💪