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Illand, Launceston, Cornwall, PL15

South West

£195,000
Listed on 04/10/2025

Property Details

Bedrooms
N/A
Type
Detached house

Description

This two-acre building plot offers a unique opportunity for those looking to invest in a promising rural setting. Nestled against the backdrop of picturesque rolling countryside, the site boasts generally level terrain and beneficial road frontage. With outline planning permission already granted, prospective buyers can begin envisioning their future dwelling in this sought-after hamlet. Spanning approximately 1.941 acres, the land also features a natural spring water source at the bottom of the field, enhancing its potential for residential development and outdoor amenities. The outline planning permission allows for the construction of a single dwelling with all matters reserved, providing flexibility in design to align with personal preferences or market demands. Details regarding the planning application can be accessed via Cornwall Council's Planning Website. The property is conveniently located near existing utilities; reports suggest that water, electricity, and super-fast broadband connections are readily available adjacent to the plot. While this presents an advantageous situation for future developments, buyers should verify these services independently to ensure they meet project requirements. For those interested in investment potential, this site represents an ideal canvas to develop a dream home or capitalize on more expansive rural living trends. The serene location combined with its proximity to local amenities makes it attractive for both personal use and as a rental opportunity. As a reminder, prospective buyers will need to familiarize themselves with any easements, wayleaves, or rights of way associated with the property as these may affect development plans. Understanding boundary definitions is also crucial; therefore, due diligence in reviewing any related documentation is advisable before proceeding. This plot holds significant promise in a desirable area—an essential consideration for investors seeking to make their mark in today’s evolving real estate landscape.

Investment Analysis

(PL15 area)
Area Average
£265/sq ft
Avg Rent (weekly)
£234
Avg Yield
3.8%

Renovation Potential

Light Refurb
Est. Renovation Cost
£50,000 - £100,000
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
15
Average per month
Market Turnover
7%
Properties sold annually

Local Market Trend (PL15)

Area prices are stable by +1.9% over the last 12 months
3 year growth: -3.1%
5 year growth: 18.4%
Investment Disclaimer: Analysis based on PL15 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

Illand, Launceston, Cornwall, PL15
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Mortgage Calculator

£
£
£
%
%
years

Current average 2-year fixed rate is 4.19%

Current average variable rate is 6.78%

Monthly Repayments
£714
Based on a loan of £146,250 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