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Basset Street, Redruth

South West

£295,000
Listed on 23/08/2022

Property Details

Bedrooms
N/A
Type
Detached house

Description

This property presents a noteworthy opportunity for those interested in development or investment, featuring outline planning permission for the construction of three detached houses. Each proposed residence is designed to span three storeys and includes four bedrooms, a garage, and private rear gardens, making it an appealing option for potential buyers or renters. Located at the upper end of Basset Street, this site is situated in an area recognized for its desirability among families and professionals alike. The location benefits from proximity to essential amenities, including shops and public transport options such as the mainline railway station and bus stops, all within a short walking distance. Planning permission has been secured under decision PA20/11496 dated May 19, 2021. The plot dimensions are estimated at approximately 23 meters by a maximum depth of 17 meters; however, it is advisable to verify these measurements on-site. Additionally, there is a right of way providing access to the adjacent property known as Westcliffe. The vendor is currently exploring utility connections and associated costs, which could further streamline the development process. Given its strategic location and existing approvals, this site holds substantial renovation and investment potential for developers looking to capitalize on the local housing market.

Investment Analysis

(TR15 area)
Area Average
£278/sq ft

Renovation Potential

Est. Renovation Cost
£29,500 - £73,750
10-25% of property value
Monthly Sales
19
Average per month
Market Turnover
36%
Properties sold annually

Local Market Trend (TR15)

Area prices are rising by +5.5% over the last 12 months
3 year growth: 5.9%
5 year growth: 30.4%
Investment Disclaimer: Analysis based on TR15 area averages and may not reflect property-specific factors like condition, exact location, or unique features. Renovation costs vary significantly based on property condition and scope of work. Always conduct professional surveys and get multiple quotes before making investment decisions.

Location

Basset Street, Redruth
Map showing location of Basset Street, Redruth
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