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Hannafore Lane, West Looe

South West

£895,000
Listed on 06/04/2024

Property Details

Bedrooms
9
Type
Detached house
Area
3704 sqft

Description

This expansive property presents a compelling opportunity for those seeking a versatile living arrangement or investment potential. Newly available for the first time in two decades, this house features an impressive nine bedrooms and showcases a blend of residential and commercial possibilities. Previously operated as a successful bed and breakfast until 2017, the accommodation includes a four-bedroom self-contained holiday let that has proven popular with guests. This segment of the home offers en-suite bathrooms and communal living spaces designed to take advantage of stunning views over the Looe River, Kilminorth Woods, and the coastline. The modern kitchen and living areas are particularly noteworthy for their inviting ambiance and scenic vistas. The residential portion of the property offers three additional en-suite bedrooms, one of which boasts a private balcony overlooking the river and beach—ideal for enjoying morning coffee or evening sunsets. The spacious kitchen is fitted with stainless steel units, making it practical for daily use while providing ample space for gatherings. With a flexible layout, the property accommodates diverse needs. Upon entering from the rear parking area—which allows for two vehicles—residents will find an office area along with an en-suite bedroom on the ground floor. The second level hosts two sizable bedrooms with impressive sea views. The ground floor also includes a lounge, study room, utility room, and a separate commercial kitchen that connects to the holiday let, ensuring privacy between personal and guest accommodations. A hillside garden complements this unique property, offering a peaceful retreat with panoramic views of the town and sea—perfect for relaxation or outdoor gatherings. Additionally, there is generous storage space including a dedicated double garage-style area beneath the parking bay. Importantly, there remains significant renovation potential within this property. The residential side invites creative personalization; whether restoring its original charm or adapting it to meet modern demands could yield substantial rewards. Investors may wish to consider converting back to B&B operations or exploring other uses consistent with local zoning regulations. In summary, this property is not just about its current offerings; it's about unlocking future potential in a desirable location known for its beautiful landscapes and vibrant community atmosphere.

Investment Analysis

(PL13 area)

Below Market Value

This property is priced -27.8% below area average per sq ft

-27.8%
Potential saving
This Property
£242/sq ft
Area Average
£335/sq ft

Renovation Potential

Est. Renovation Cost
£89,500 - £223,750
10-25% of property value
Target Value
£1,363,905
10% above area average per sq ft
Potential ROI
+21.9%
After renovation
Monthly Sales
10
Average per month
Market Turnover
10%
Properties sold annually

Local Market Trend (PL13)

Area prices are rising by +9.1% over the last 12 months
3 year growth: -2.9%
5 year growth: 20.5%
Investment Disclaimer: Analysis based on PL13 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

Hannafore Lane, West Looe
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