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Basset Street, Redruth

South West

£295,000
Listed on 01/11/2023

Property Details

Bedrooms
N/A
Type
Detached house

Description

This property presents a compelling investment opportunity, featuring a building plot that has received outline planning permission for the development of three detached houses spread over three stories. Each proposed residence is designed to include four bedrooms, a garage, and private rear gardens, appealing to families and potential buyers looking for spacious living. Conveniently located at the top of Basset Street, this site is within easy reach of local amenities, including shops, schools, and public transport options such as the main line railway station and bus stops—making it an attractive option for future residents. The area is recognized as a desirable residential neighborhood, further enhancing the investment potential of this project. The outline planning permission was granted under decision PA20/11496 on May 19, 2021. The dimensions of the plot are approximately 23 meters by 17 meters at its maximum depth; however, these measurements should be confirmed through physical assessment. Additionally, there is a right of way providing access to the adjacent property named Westcliffe. Currently, the vendor is in discussions with utility providers to ascertain costings for essential services, which will be crucial as development progresses. Overall, this property not only offers a chance to develop attractive family homes but also positions itself well within a growing community ripe for investment in both residential living and rental markets.

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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