Water an amazing home: feeling drained by the capital? Make your cash go further with this spectacular water tower

One of less than a dozen converted Victorian water towers in Britain has gone on the market — as a spacious family home for just £10,000 over the price of the average London property.

The aptly named Water Tower in Potterhanworth, a village near Lincoln, was converted in 1996 after lying empty since 1978, and is now a lavishly appointed property.

Built in 1903, the tower’s tank had a water capacity of 37,000 gallons and was filled from an artesian borehole in a neighbouring field.

It was endowed to provide a clean water supply to the local area by Richard Smith, founder of Christ’s Hospital in Lincoln and his family’s coat of arms can still be seen in the building’s brickwork.

For years, the two rooms directly below the tank were used for parish council meetings and the local Home Guard platoon made their base there during the Second World War.

The palatial 20ft dining room features ornate cornicing and a fireplace, while the almost-as-spacious bespoke kitchen includes a range cooker.

The summer room is no ordinary conservatory and not only has two Velux roof windows, but marquet flooring, a built-in TV unit and two radiators.

Other downstairs rooms include a plumbed utility room, a drying room and a cloakroom.

Two double bedrooms and a family bathroom are on the first floor, along with a 20ft sitting room with marble hearthed fireplace and amazing 360-degree views of the village — including St Andrew’s church just across the road — and the surrounding countryside.

Even better views are on the second floor, inside the former water tank where the master bedroom is situated. The 24ft by 21ft room commands views as far as Lincoln Cathedral eight miles away, and has a dramatic vaulted ceiling and exposed beams, built-in wardrobes and a couple of Velux roof windows that let you look at the stars from your bed.

The house also has a separate annexe, which includes a double garage and shower room downstairs and a bedroom upstairs, which is currently serving as a gym for the owners.

There is a small walled front garden, while the extensive rear walled garden has a paved terrace area, ornamental shrubs and outside lighting.

Lincoln train station is just seven miles away, from where trains to King’s Cross take a couple of hours. However, there are more frequent services from Newark that take just 90 minutes.

The Water Tower is on the market for £500,000 through Hunters.