Former live/work homes to be sold

The Old Farm development site at Sleaford EMN-150721-161952001
The Old Farm development site at Sleaford EMN-150721-161952001

A modern development of seven large properties on the outskirts of Sleaford is to be sold.

The development, known as ‘The Old Farm’ on Mareham Lane, is complete and is to be sold as a whole to either an investor looking for an income or to a specialist occupier.

The sale is being handled by Savills estate agents, after the seven properties, which span a three and a half acre site, recently had their live/work planning restriction lifted. This means that buyers no longer have to work as well as live there.

Michael Donaghy, of Savills, said: “Live/work units, whilst a good idea in principle, can be problematic in rural locations as demand has historically been low. Buyers don’t want to be obliged to work at home and often their work is elsewhere.”

He added: “Whilst appealing from a planning and environmental perspective, the market for this type of property is restricted to a few in any one location.

“Those working from home can already use part of their property for working purposes so long as it is not the principal use.”

Working with Savills, the vendor has had the live/work restriction lifted in order to appeal to a wider client base.

The seven detached homes are large and range in size from 2,700 sq ft to 6,600 sq ft. The site is in a self contained area in the open countryside on the outskirts of Sleaford.

The site is for sale as a whole at offers over £2.4m.

For further information contact Michael Donaghy at Savills on 0115 934 8030 or mdonaghy@savills.com