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Callestick, Truro

South West

£485,000
Listed on 06/02/2024

Property Details

Bedrooms
2
Type
Detached house
Area
947 sqft

Description

Tanglewood Cottage presents a unique opportunity for renovation or redevelopment, set within nearly one acre of mature gardens. This two-bedroom detached property is located at the end of a long, private driveway, providing an ideal setting for those seeking peace and privacy. The expansive grounds feature dense tree lines that create a natural barrier, allowing for a tranquil atmosphere. There is also a gently sloping paddock area of approximately half an acre, perfect for children’s play, pets, or potential gardening projects. The cottage requires complete renovation but offers significant investment potential; planning permission (PA23/04131) has been granted for the demolition of the existing structure and replacement with a modern four-bedroom residence. The new plans also include a self-contained one-bedroom annexe and double garage, making this property suitable for multi-generational living or rental income. Located conveniently near Truro and Treliske Hospital, with easy access to the north Cornish coast, Tanglewood Cottage benefits from its proximity to local amenities in Shortlanesend (approximately 1½ miles away), as well as further shopping and services available in Perranporth and Truro. An upcoming infrastructure project will relocate the main road to the south of the property, which should enhance its quietude and accessibility. Basic utilities such as mains electricity, private well water, and private drainage service the cottage; however, these have not been tested recently. Prospective buyers should be aware that development under the proposed plans will incur a Community Infrastructure Levy (CIL) charge estimated at £17,973.27. This property comes with certain existing easements and rights of way that must be acknowledged by any interested buyer. To explore this promising investment further or to schedule a viewing, please reach out through our designated agents.

Investment Analysis

(TR4 area)

Above Market Value

This property is priced +42.3% above area average per sq ft

+42.3%
This Property
£512/sq ft
Area Average
£360/sq ft
Avg Rent (weekly)
£268
Avg Yield
3.1%

Renovation Potential

Est. Renovation Cost
£48,500 - £121,250
10-25% of property value
Target Value
£374,908
10% above area average per sq ft
Potential ROI
-38.2%
After renovation
Monthly Sales
10
Average per month
Market Turnover
17%
Properties sold annually

Local Market Trend (TR4)

Area prices are falling by +5.8% over the last 12 months
3 year growth: -3.9%
5 year growth: 13.8%
Investment Disclaimer: Analysis based on TR4 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

Callestick, Truro
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