58, Mill Lane
58, Mill Lane
Description & Estimates
58, Mill Lane, Redhill appears in the public record as a leasehold apartment.
We estimate it to be a modern apartment with 666 ft2 of internal area by comparing it to nearby properties.
Locally, apartments of this size normally have 2 bedrooms.
Our estimate of the sale value of 58, Mill Lane, Redhill is £284,941 and its rental estimate is £1,413 per month, given the available information and assuming reasonable condition.
Mill Lane, Merstham, Redhill, RH1 falls within the RH1 postal district, in the borough of Reigate and Banstead.
Our Data Sources
58, Mill Lane, Redhill has 21 entries in the Land Registry , most recently in November 2007 and no records in the EPC database.
We combine this sold price information with public data of neighbouring properties to estimate the attributes and values.
The local information is scored as 5 out of 5 and is considered of high accuracy.
Price Range & Condition
The condition of a property plays an important role in determining its value, with the degree of impact varying by property type, size and location.
For 58, Mill Lane, Redhill, we estimate a market value of £299,188 and a rental value of £1,483 per month when presented in very good decorative order. Should the property require extensive cosmetic improvement, those figures would reduce to £264,995 and £1,314 per month respectively.
Recent Market Change
Over the last year, 58, Mill Lane, Redhill has seen its estimated sale value drop by £539 (0.2%) and its estimated rental value rise by £71 per month (5.0%). This results in an estimated gross rental yield of 5.9%.
Sold Prices
The most recent sale of 58, Mill Lane, Redhill completed on 6th November 2007 at £195,000 and was recorded by HM Land Registry as a leasehold flat.
Since 1995 the property has sold twice.
Values of comparable properties have risen by 20.5% over the period since November 2007.
- Sold Nov 2007£195,000
- Sold Jan 2001£107,000
Similar Properties Sold Nearby
Over the past 2 years 3 properties similar to 58, Mill Lane, Redhill have sold within a radius of 810 metres, per the Land Registry and our network of Estate Agents.
The latest, on the 18th September 2023, was 46, Mill Lane, Redhill, RH1 3HQ, a leasehold flat which sold for £300,350.
Read more about house prices in RH1.
•Nearby is defined as the radius comprising the nearest 2,000 addresses.
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Location Comparison
Of the 36 addresses on Mill Lane, Merstham, Redhill, RH1, 58, Mill Lane, Redhill comes out as the 12th largest and the 25th most expensive in our analysis of the public data.
It is also £169k less expensive than the average property across the RH1 district.
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Schools Nearby
- 1.0kmLime Tree Primary School and Nursery
- 1.2kmMerstham Primary School
- 1.2kmFurzefield Primary Academy
- 600mMerstham Park School
- 1.5kmCarrington School
- 2.0kmSt Bede's School
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Public Transport Nearby
From 58, Mill Lane, Redhill, the nearest station is Merstham, 1.4 kilometres away.
- 1.4kmMerstham
- 1.9kmRedhill
- 2.9kmNutfield
Available Internet Speeds
Broadband here reaches ultrafast speeds, based on recent Ofcom data.
According to recent data from Ofcom, Ultrafast broadband is available in the area.
Risk of Flooding
The flood risk here is rated very low, based on Environment Agency data.
