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Gurnard, Isle of Wight

South East

£595,000
Listed on 18/04/2024

Property Details

Bedrooms
3
Type
Plot
Area
3700 sqft

Description

This is a unique opportunity to develop a remarkable residence on a 3.2-acre plot, complete with planning permission for a modern two-storey house that offers sweeping views over Thorness Bay and The Solent. Nestled in a tranquil rural area near the desirable village of Gurnard, the site benefits from an abundance of mature woodlands and stunning natural surroundings. The approved design encompasses approximately 350 square meters, thoughtfully laid out to maximize the impressive vistas from all primary living spaces and bedrooms. Essential groundwork has already commenced with the installation of a new drainage system, streamlining the development process for future owners. The prospective home includes expansive open-plan living areas, multiple bedrooms with en-suites, and well-appointed amenities such as a carport and outdoor kitchen. Additionally, there’s an existing Scandi-style cabin (6m x 6m) on-site which has been refurbished to function as a cozy retreat featuring modern utilities and sea views. This versatile space can serve multiple purposes—be it guest accommodation or an office. With local amenities in Gurnard including shops, cafes, and pubs just a short distance away, as well as easy access to Cowes’ vibrant town life and ferry services to Southampton, this site promises not only potential for personal enjoyment but also significant investment value. The combination of location, approved plans, and existing structures makes this property an enticing prospect for discerning buyers looking to build their dream home in an idyllic setting.

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
£250,000 - £350,000
Target Value
£1,285,103
10% above area average per sq ft
Potential ROI
+36.0%
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.

Price History

-8.5% since listed
£595,000£55,000(-8.5%)
11/06/2025
Current price
£650,000Initial listing
18/04/2024

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