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See how verdicts workHouse · LN7 6JF
For saleListed 371 days
Opportunity summary
See Archie’s verdict, returns by strategy and what to check before viewing.
About
Nestled in the charming village of North Gulham, Market Rasen, PGM&Co are pleased to present this spacious barn with the benefit of planning permission for development of five dwellings, making it an ideal investment and offering a blend of rural tranquillity and modern living.
Location - Situated in a peaceful setting, North Gulham is well connected to nearby amenities and transport links.
The next village is North Owersby which is situated between Caistor (6.6 miles) and Market Rasen (6.1 miles). The A46 lies about 1 mile to the east. Primary Schooling is available in nearby Osgodby.
There is Secondary School education in Market Rasen and Caistor. A good range of shops, doctors, leisure and amenity facilities are on offer at both Market Rasen and Caistor.
Transport links are also good with access via the A46 to Lincoln, Grimsby, Scunthorpe and the Humber Bridge.
Description - The barn is of steel portal frame construction with part brick part corrugated metal sheet walls, metal sheet roofing and a large hardstanding area to the south elevation.
Once converted the proposed dwellings will each feature four spacious bedrooms, providing ample room for families and those who enjoy hosting guests.
Each unit also has its own garden and outdoor space. The property includes designated parking, ensuring convenience for residents and visitors alike.
Planning - The bar at North Gulham has the benefit of Prior Approval Planning Permission for the change of use if 1no. agricultural building to 5no. dwellings with associated operational development.
Permission was granted by West Lindsey District Council (WLDC) Ref: WL/2024/01013, dated 27/01/2025.
The development is granted under Class Q and must be completed within a period of 3 years starting with the prior approval date.
Services - Mains water and mains electricity have previously been available at the budling but have been disconnected.
The services are therefore believed to be available in close proximity to the property. Prospective purchasers are encouraged to satisfy themselves in this regard.
Boundaries - The buyer(s) shall be deemed to have full knowledge of all boundaries and neither the seller nor the selling agent will be responsible for defining the boundaries or their ownership.
Access - The property is access via a private driveway off the highway 'Thornton Road' to the west. A right of way will be granted, to include a contribution towards maintenance.
Wayleaves, Easements & Rights Of Way - The property is offered for sale subject to all existing rights, including rights of way, whether public or private, light, support, drainage, water and electricity suppliers and other rights easements, quasi-easements and all wayleaves whether referred to in these particulars or not.
Plans - Plans included within the Particulars of Sale are for identification purposes only and not to scale. Tenure And Possession - The property is offered for sale Freehold.
Vacant Possession will be granted on completion. Buyer Identity Check - Purchasers will be required to provide the necessary identification for the purposes of the anti-money laundering regulations.
Viewing - Prospective purchasers may view the Land during daylight hours with a set of these Particulars of Sale to hand.
Value & comps
No previous sales on record.
Returns
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Archie refurb estimate: a Pro feature
0.0% below asking
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Deal
Properties like this can earn 2–3x BTL yields when converted to HMO, with retrofit costs around £10k/room. Sign in to see the full tier, yield projection, and cost breakdown.
Commercial properties like this can earn 30-50% higher yields when converted to residential under Class MA / Q / P / PA, with prior approval costing ~GBP 96/unit. Sign in to see the recommended route, yield uplift, and cost breakdown.
BRRR-suited properties can recycle 80-100% of investor capital on refi, leaving a high-yielding rental with most of the money out. Sign in to see the refurb cost stack, ARV projection, and refinance maths.
Detached + large garden = sub-division play. Pro tier unlocks the tier badge, plot size, uplift estimate, and regional land benchmark.
Short-lease flats trade at deep discount, but extending under the 1993 Act often costs far less than the discount. Pro tier unlocks the tier badge, premium breakdown, long-lease ARV and arbitrage maths.
See projected short-stay revenue vs a vanilla BTL for this property.
See real sub-let margins (HMO room rates & SA nightly rates) vs the landlord rent.
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FAQ
About Gulham Lane, North Gulham, Market Rasen
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