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Gurnard, Isle of Wight

South East

£595,000
Listed on 17/04/2024

Property Details

Bedrooms
3
Type
Property With Land
Area
3700 sqft

Description

Presenting a distinctive opportunity to develop a contemporary residence set on an expansive 3.2-acre plot in a tranquil rural environment near the desirable village of Gurnard. This site not only boasts approved planning permission for a spacious two-storey home of approximately 350 square meters but also offers captivating views across Thorness Bay and The Solent. The property is approached via a shared track and enveloped by mature woodland, featuring vibrant bluebells and other wildflowers, providing an idyllic backdrop for your new project. The planning approval (reference 21/00315/FUL) allows for a well-designed layout intended to maximize the stunning vistas from all principal rooms and bedrooms, ensuring ample natural light throughout. This includes expansive open-plan living areas with direct access to terraces that overlook the sea. Additionally, there’s already some groundwork completed with the installation of a new drainage system, indicating groundwork has been laid for the project's future stages. The site also houses a Scandi-style cabin approximately 6m x 6m, which has recently been refurbished into a charming retreat featuring an open-plan living area, kitchenette, double bedroom, and shower room—perfect as temporary accommodation while you finalize plans for the main house or as an independent rental unit post-completion. With essential services such as mains power and water already connected, along with private drainage solutions and a well on-site, this property promises extensive investment potential. The proximity to local amenities in Gurnard and Cowes enhances its appeal for prospective buyers or renters looking for serene coastal living.

Investment Analysis

(PO31 area)

Below Market Value

This property is priced -49.1% below area average per sq ft

-49.1%
Potential saving
This Property
£161/sq ft
Area Average
£316/sq ft
Avg Rent (weekly)
£260
Avg Yield
4.0%

Renovation Potential

Medium Refurb
Est. Renovation Cost
£150,000 - £250,000
Target Value
£1,285,103
10% above area average per sq ft
Potential ROI
+52.1%
After renovation
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
20
Average per month
Market Turnover
7%
Properties sold annually

Local Market Trend (PO31)

Area prices are falling by -2.6% over the last 12 months
3 year growth: +4.3%
5 year growth: +15.3%
Investment Disclaimer: Analysis based on PO31 area averages and may not reflect property-specific factors like condition, exact location, or unique features. Any renovation cost estimates provided are AI-generated and should be considered indicative only. 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

Gurnard, Isle of Wight
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Mortgage Calculator

£
£
£
%
%
years

Current average 2-year fixed rate is 3.91%

Current average variable rate is 6.62%

Monthly Repayments
£2,107
Based on a loan of £446,250 over 30 years at 3.91% interest

These results are estimates and are only intended as a guide. Make sure you obtain accurate figures from your lender before committing to any mortgage. Your home may be repossessed if you do not keep up repayments on a mortgage.

Stamp Duty Calculator

This calculation uses non-residential (land/commercial) tax rates.

Price History

-8.5% since listed
£595,000£55,000(-8.5%)
11/06/2025
Current price
£650,000Initial listing
17/04/2024

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