Modern Method of Auction
Auction date not yet published
We've tightened what earns a Pursue. A home now needs a published valuation, a strategy that still makes money after real running costs and lender stress tests, and no listing problems that would stop a mortgage. You'll see fewer Pursues, and each one has been checked harder.
See how verdicts work5-bedroom detached house · PE11 1LN
For saleListed 355 days
Opportunity summary
See Archie’s verdict, returns by strategy and what to check before viewing.
About
For Sale By Modern Method of Auction - T & Cs Apply Nestled within the heart of Spalding and over 2000sqft, this spacious detached five bedroom family home offers an exciting opportunity for buyers seeking a property to renovate and make their own.
Situated on approximately 0.23 acres (sts), this home provides an abundance of internal and external space, ideal for a growing family or those looking to create their dream home in a highly sought-after location.
This detached home represents a fantastic opportunity to add value through renovation and modernisation.
Offering space, versatility, and a prime location, it's the ideal property to put your own stamp on and create a home tailored perfectly for you.
Internally, the accommodation is both versatile and generous throughout, featuring a welcoming entrance hallway that leads through to the main living areas.
The spacious open-plan lounge and dining area offer the perfect setting for entertaining or family gatherings, while the large kitchen provides excellent scope for modernisation and the potential to create a stunning kitchen/diner.
In addition, there is a separate office and playroom, ideal for home working or adaptable to suit a variety of family needs.
Upstairs, the property boasts five well-proportioned bedrooms, providing plenty of space for the entire family, along with a family bathroom completing the first-floor accommodation.
The property occupies a generous 0.23-acre plot (sts), with an enclosed rear garden offering excellent potential for landscaping or extension (subject to planning).
The front driveway provides ample off-road parking and access to the garage, ensuring convenience for multiple vehicles.
Viewing is highly recommended to fully appreciate the size, potential, and excellent location this property has to offer. Buying Conditions This property is for sale by Traditional Auction.
Exchange takes place immediately with completion within 28 days. The buyer pays a 10% (of the purchase price) Non-Refundable Deposit on exchange.
Interested parties' personal data will be shared with the Auctioneer (iamsold Ltd).
The buyer signs a Reservation Agreement and makes payment of a Non-Refundable Reservation Fee of 4.5% of the purchase price inc VAT, subject to a minimum of £6,600 inc VAT.
This Fee is paid to reserve the property to the buyer during the Reservation Period and is paid in addition to the purchase price. The Fee is considered within calculations for stamp duty.
A Buyer Information Pack is provided, which you must view before bidding. The buyer will pay £349 inc VAT for this pack.
Services may be recommended by the Agent or Auctioneer in which they will receive payment from the service provider if the service is taken. Payment varies but will be no more than £450.
These services are optional.
Entrance Hall Kitchen Diner Utility 1.49m x 2.49m - 4'11” x 8'2” Open Plan Living/Dining Area 5.55m x 10.63m - 18'3” x 34'11” Hallway 1.93m x 5.8m - 6'4” x 19'0” Bathroom 2.19m x 2.3m - 7'2” x 7'7” Play Room 2.37m x 4.67m - 7'9” x 15'4” Office 2.62m x 3.34m - 8'7” x 10'11” Bedroom 4.73m x 2.4m - 15'6” x 7'10” First Floor Landing 1.79m x 5.76m - 5'10” x 18'11” Bedroom 1 4.71m x 5.15m - 15'5” x 16'11” Bedroom 2 3.63m x 4.17m - 11'11” x 13'8” Bedroom 3 3.63m x 2.68m - 11'11” x 8'10” Bedroom 4 2.94m x 3.53m - 9'8” x 11'7” Bedroom 5 1.81m x 2.11m - 5'11” x 6'11” Bathroom 2.63m x 2.5m - 8'8” x 8'2” Outside Lean To 7.91m x 2.55m - 25'11” x 8'4”
Value & comps
No previous sales on record.
See the independent valuation, upside vs guide, and per-strategy max bid for this lot. Sign in to see it.
Returns
Set an offer; the calculator follows it.
We're still gathering serviced-accommodation data for this area.
Archie refurb estimate: a Pro feature
0.0% below starting price
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All investment calculators, property analyses, and AI-generated insights are for informational purposes only. Property investment carries risk and may result in financial loss. All calculations should be independently verified and you should consult with FCA-authorised financial advisers before making any investment decisions.
Past performance does not guarantee future results. Tax implications vary by individual circumstances.
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.
Area
Agent & docs
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FAQ
About 232, Pennygate, Spalding
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