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St Erth, Cornwall

South West

£450,000
Listed on 13/03/2024

Property Details

Bedrooms
4
Type
Detached house

Description

This property presents a noteworthy renovation opportunity in a tranquil area of St Erth, Cornwall. Currently featuring a substantial barn structure with approved planning permission (application number PA18/04740) for conversion into an impressive four-bedroom residence. This layout is designed to maximize space and natural light, offering a reverse level living arrangement that can be customized to fit modern living requirements. In addition to the main barn, the property includes an attached smaller barn, suitable for various uses depending on your vision for the site. The investment potential extends beyond the primary dwelling; there are additional barns available that could be repurposed as holiday rentals or workspaces, creating an attractive income stream once fully renovated. The property also boasts two stable blocks—one built from block and another from timber—offering multiple stable units and garage space that could further support your renovation plans. This versatility opens doors for equestrian pursuits or additional storage solutions. Surrounding the barns are expansive gardens that provide ample outdoor space for relaxation or recreational use. A well-defined yard and driveway facilitate easy access around the stables and main building. For those looking to expand their investment further, approximately 1.5 acres of land may be available through separate negotiation, enhancing the overall appeal of this property. Please note: Services will require connection; currently, drainage is private via a septic tank, water is sourced from a spring with potential access to mains supply, and electricity is already present on-site. The tenure is freehold, providing secure ownership of this promising asset in a desirable location.

Investment Analysis

(TR27 area)
Area Average
£348/sq ft
Avg Rent (weekly)
£258
Avg Yield
4.5%

Renovation Potential

Heavy Refurb
Est. Renovation Cost
£150,000 - £250,000
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
14
Average per month
Market Turnover
8%
Properties sold annually

Local Market Trend (TR27)

Area prices are falling by +4.0% over the last 12 months
3 year growth: -5.4%
5 year growth: 16.4%
Investment Disclaimer: Analysis based on TR27 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

St Erth, Cornwall
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Mortgage Calculator

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£
£
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years

Current average 2-year fixed rate is 4.19%

Current average variable rate is 6.78%

Monthly Repayments
£1,648
Based on a loan of £337,500 over 30 years at 4.19% 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.

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YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE