Run down 1960’s semi house in Newmarket on the market for £500k but could be worth DOUBLE after refurbishment

Homebuyers may want to take a punt on a semi-detached house in the horseracing capital that could be worth £1million once completed.

The seven-bed house, named Eastcote in Newmarket, West Suffolk, has gone up for sale for the first time in 50 years for £525,000.

The house needs a complete refurbishment as it is covered in ivy and even has a tree growing through the utility room.

Experts say that once renovated, it would be worth twice its guide price.

Property website Zoopla shows that similarly sized properties (but not in dire need of a coat of paint along with other repairs) on the same street can be worth anywhere from £850,000 to over a million pounds.

Due to the work involved, real estate agents Cheffins are only looking for cash buyers.

The seven-bed house, named Eastcote (pictured) in Newmarket, West Suffolk, has gone up for sale for the first time in 50 years for £525,000

The seven-bed house, named Eastcote (pictured) in Newmarket, West Suffolk, has gone up for sale for the first time in 50 years for £525,000

The semi-detached house has a spacious garden that is currently completely overgrown

The semi-detached house has a spacious garden that is currently completely overgrown

Aside from a few fresh coats of paint, the bathroom design is rather dated

Aside from a few fresh coats of paint, the bathroom design is rather dated

After the refurbishment, the property could be worth up to a million pounds

After the refurbishment, the property could be worth up to a million pounds

The interior of the property has not been touched in about 40 years, the wallpaper is peeling, the floorboards are bare

The interior of the property has not been touched in about 40 years, the wallpaper is peeling, the floorboards are bare

The house needs a complete refurbishment as it is covered in ivy and even has a tree growing through the utility room

The house needs a complete refurbishment as it is covered in ivy and even has a tree growing through the utility room

The property’s interior hasn’t been touched since the 1960s — the wallpaper is peeling, the floorboards are bare, and the kitchen units and bathrooms are dated, to say the least.

The property has over 3,000m² of living space with entrance hall, kitchen/breakfast room, dining room, lounge, living room and conservatory on the ground floor and a basement.

There are five bedrooms and a family bathroom on the first floor and a further two bedrooms on the upper floor.

The semi-detached house has a spacious garden that is currently completely overgrown.

It also comes with a stable block which could be converted into an outbuilding or separate plot with planning permission.

The property has over 3,000m² of living space with entrance hall, kitchen/breakfast room, dining room, lounge, living room and conservatory on the ground floor and a basement

The property has over 3,000m² of living space with entrance hall, kitchen/breakfast room, dining room, lounge, living room and conservatory on the ground floor and a basement

The property's conservatory is spacious but probably in need of a redesign

The property’s conservatory is spacious but probably in need of a redesign

It also comes with a stable block which could be converted into an outbuilding or a separate property

It also comes with a stable block which could be converted into an outbuilding or a separate property

Cheffins' Lauren Blake said: “Eastcote has to go all out. Because of the work required, we only approach cash buyers.

Cheffins’ Lauren Blake said: “Eastcote has to go all out. Because of the work required, we only approach cash buyers.

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If you bought Eastcote you might be inclined to rip out the current kitchen furniture and replace it with new ones

If you bought Eastcote you might be inclined to rip out the current kitchen furniture and replace it with new ones

The spacious garden is overgrown and needs a green thumb

The spacious garden is overgrown and needs a green thumb

The street the house is on is a highly sought after address in the city, where a number of large stables were built in the 19th and 20th centuries.

It is home to some of Britain’s largest and most famous racing facilities including Godolphin Stables founded by Sheikh Mohammed bin Rashid Al Maktoum, Freemason Lodge Stables and Clarehaven Stables.

Cheffins’ Lauren Blake said: “Eastcote has to go all out. We only introduce ourselves to cash buyers because of the work required.

“It’s so desolate that there’s a tree growing through the utility room.

“But we’ve had 20 viewings already – these Victorian villas don’t come on the market very often and Bury Road is the most desirable street in Newmarket.

‘Haven’t been touched in about 40 years, the property retains many of the original features such as cast iron fireplaces, rose ceilings and picture rails.’

Lauren Blake of real estate agent Cheffins said the property has been viewed 20 times

Lauren Blake of real estate agent Cheffins said the property has been viewed 20 times

Ms Blake said Bury Road was the road to Newmarket

Ms Blake said Bury Road was the road to Newmarket

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“It hasn’t been touched in about 40 years, so the property retains many of the original features such as cast-iron fireplaces, rose ceilings and picture rails,” she said

She added:

She added: “Once you’re done you’d be looking at just over £1million so the ceiling is as much as you really want to spend on it.”

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“This is the only one in this row of houses that has not been renovated. It's a bit like a dark horse'

“This is the only one in this row of houses that has not been renovated. It’s a bit like a dark horse’

She added: “Once you’re done you’d be looking at just over £1million so the ceiling is as much as you really want to spend on it.

“There is also a block of stables at the end of the garden that could be converted. Another block of stables down the road has been converted into a one bed cottage.

“It would need planning and repurposing, but it could sell for £285,000, which is also exciting for buyers.

“This is the only one in this row of houses that has not been renovated. It’s a bit like a dark horse.

“We already have four offers above the target price, so we will receive the best and final offers by the first week of September.”

https://www.dailymail.co.uk/news/article-11160013/Run-1960s-semi-Newmarket-market-500k-worth-DOUBLE-refurbished.html?ns_mchannel=rss&ns_campaign=1490&ito=1490 Run down 1960’s semi house in Newmarket on the market for £500k but could be worth DOUBLE after refurbishment

Emma Colton

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