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Callestick, Truro

South West

£485,000
Listed on 15/02/2024

Property Details

Bedrooms
2
Type
Detached house
Area
947 sqft

Description

Tanglewood Cottage presents a noteworthy opportunity for renovation or redevelopment in a picturesque setting. This two-bedroom detached cottage is situated at the end of a long, private driveway, surrounded by approximately 0.95 acres of mature gardens and grounds that offer considerable privacy thanks to dense tree-lined boundaries. The property currently requires extensive renovation, but it comes with granted planning permission (PA23/04131) for the construction of a modern four-bedroom house, which includes provisions for a self-contained one-bedroom annexe and a double garage. Such redevelopment could significantly enhance the property's value and functionality while preserving its tranquil environment. The grounds feature a gently sloping paddock that spans about half an acre, ideal for various uses such as recreational space for children, pets, or even the establishment of a vegetable garden. The overall layout offers excellent potential for creating an inviting outdoor retreat. Located conveniently just outside Truro, this property allows easy access to essential amenities in Shortlanesend (approximately 1½ miles away) and further facilities available in nearby Perranporth. It’s also well-positioned for quick connections to Treliske Hospital and the northern Cornish coast. Notably, the entrance drive currently links to the A30, but upcoming alterations to this main road will reroute traffic southward. This change is anticipated to reduce road noise and enhance the property's peaceful atmosphere while allowing continued accessibility from a local B road. The property is serviced by mains electricity and benefits from private well water and drainage systems. However, prospective buyers should verify these services independently as no guarantees can be made regarding their current condition. Additionally, please note that the planned replacement dwelling will incur a Community Infrastructure Levy (CIL) charge of £17,973.27. Overall, Tanglewood Cottage stands out as a promising investment opportunity with significant potential for those looking to create a family home or capitalize on its redevelopment prospects in an appealing rural setting.

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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