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Sherwell Arcade, Plymouth, Devon, PL4 - Image 1
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Sherwell Arcade, Plymouth, Devon, PL4

South West

£450,000
Listed on 08/11/2024

Property Details

Bedrooms
N/A
Type
Detached house

Description

This property presents a promising development site in the heart of Plymouth City Centre, encompassing approximately 0.07 acres (280m²) with Class E designation. This versatile zoning allows for a range of potential uses, making it an attractive option for investors and developers looking to capitalize on the area's growth. The plot's location is particularly advantageous; situated adjacent to Plymouth University’s campus and nearby student housing, it benefits from a steady flow of foot traffic and demand for various commercial or residential purposes. While the existing Class E status could be maintained or reinstated, there is significant potential to explore alternative development options subject to obtaining the necessary planning permissions. Prospective buyers are encouraged to engage directly with the Plymouth City Council Planning Department for detailed insights into possible redevelopment scenarios. Overall, this site offers a unique opportunity to invest in a vibrant urban area with strong fundamentals and future growth potential.

Investment Analysis

(PL4 area)
Area Average
£195/sq ft
Avg Rent (weekly)
£160
Avg Yield
4.0%

Renovation Potential

Medium Refurb
Est. Renovation Cost
£50,000 - £150,000
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
31
Average per month
Market Turnover
13%
Properties sold annually

Local Market Trend (PL4)

Area prices are stable by +2.0% over the last 12 months
3 year growth: 9.5%
5 year growth: 26.1%
Investment Disclaimer: Analysis based on PL4 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

Sherwell Arcade, Plymouth, Devon, PL4
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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