7, MAGELLAN DRIVE, SPILSBY, PE23 5FB - £135,000

Based on the September 2024 Price Paid Data (released on 28th October 2024), the August 2024 House Price Index (released on 16th October 2024), and the September 2024 Energy Performance of Buildings Data (released on 31st October 2024). Sources

7 MAGELLAN DRIVE is a very small extended detached house of 72m², built sometime between 1996 and 2002. It was last sold for £135,000 in October 2006, which was around 23% below the average October 2006 detached price in the East Lindsey local authority area. The most recent EPC inspection was November 2022, where the current energy rating was C, and the potential energy rating was B.

7 MAGELLAN DRIVE Sold Prices

Land registry data shows two sales for 7 MAGELLAN DRIVE since 1^st January 1995. The below table shows the price paid for the two sales, along with the average detached price in the East Lindsey local authority area for the corresponding sale date. Both of the two 7 MAGELLAN DRIVE sales were for below the average price. The average price is sourced from the Office for National Statistics' House Price Index (HPI).

Date	Price	HPI Price	Variation from HPI
2006 4 OCT	£135,000	£176,185	23% below HPI
2000 17 NOV	£62,000	£76,227	19% below HPI

7 MAGELLAN DRIVE Price Paid vs. HPI Average

The below graph shows the average detached house price in the East Lindsey local authority area over time, sourced from the HPI. The two 7 MAGELLAN DRIVE sales from November 2000 and October 2006 have been plotted on the graph. A line has been extrapolated to show what the value of the property might have been over time, following each sale, had it maintained the same margin above or below the HPI (as a percentage). For example, the November 2000 sale was for 19% below the HPI. So the extrapolation line tracks at 19% below the HPI over time, until the October 2006 sale, where it falls to 23% below the HPI. The line then continues to track at 23% below the HPI.

How Large is 7 MAGELLAN DRIVE?

7 MAGELLAN DRIVE is 72m², which includes one extension, according to the EPC inspection conducted in November 2022. This puts it in the smallest 20% of detached houses in Spilsby, based on EPC data. The below chart shows the distribution of detached houses by size in Spilsby, and where 7 MAGELLAN DRIVE lies on this distribution: 16% of detached houses are smaller than 7 MAGELLAN DRIVE, and 82% of houses are larger. Note that EPC data is not available for all properties in Spilsby.

7 MAGELLAN DRIVE: Plot and Title Map

7 MAGELLAN DRIVE sits on a plot of roughly 0.067 of an acre, or 269m². The below map shows the location of 7 MAGELLAN DRIVE, an approximate outline of the building(s), and the indicative extent of the property. The plot extent is a Land Registry INSPIRE Index Polygon, and it is important to note that a title may include more than one polygon, whereas only one polygon is shown on the map (the polygon which intersects with the position of 7 MAGELLAN DRIVE). The full extent of the land contained in any registered title can only be identified from the individual title plan. The maps on this page should not be relied upon to establish the extent of a title.

Where is 7 MAGELLAN DRIVE?

7 MAGELLAN DRIVE is located in SPILSBY, in the PE23 postcode district. The below map shows the position of No. 7 on MAGELLAN DRIVE.