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Alma Place, Padstow, PL28

South West

£325,000
Listed on 04/12/2024

Property Details

Bedrooms
2
Type
Detached house
Area
573 sqft

Description

Nestled within the historic charm of old town Padstow, this two-bedroom former fisherman’s cottage presents a unique opportunity for those looking to invest in a property with significant potential. This end-of-terrace home is located in a quaint mews surrounded by similar characterful residences, placing it right at the heart of Padstow's vibrant community. The interior features a cozy living room that showcases a traditional Cornish stone fireplace, complemented by built-in shelving—a nod to the property's heritage. The galley-style kitchen offers essential base units and a stainless steel sink, providing a functional space to build upon. The main bathroom is practical, boasting full tiling alongside an electric shower and separate WC. Upstairs, two bedrooms reveal pleasant views over Alma Place, with the main bedroom featuring built-in wardrobes for added convenience. The property also includes an enclosed courtyard garden at the front, suitable for outdoor seating and relaxation, alongside an external storage cupboard. While 5 Alma Place may require a comprehensive refurbishment, it holds immense promise as either a charming holiday getaway or an investment property. With mains water, electricity, gas, and drainage already connected, you'll have foundational amenities in place. Its EPC rating is E and falls under council tax band B. Additionally, residents can enjoy ultrafast broadband availability and 5G mobile connectivity as per Ofcom data. Living in Padstow means embracing coastal beauty along with an array of dining options—from Paul Ainsworth’s Michelin-starred No.6 to the ever-popular Rick Stein's Seafood Restaurant. The surrounding area boasts stunning sandy beaches just minutes away and access to Trevose's championship golf course. For everyday needs, local supermarkets and excellent primary schooling are within easy reach. For larger shopping options or amenities such as cinemas and sports centers, Wadebridge is only 7 miles away. Transportation links are also convenient; Bodmin Parkway serves as the nearest mainline station approximately 20 miles distant while Newquay Airport is around 14 miles away. Investors seeking a project or homeowners wanting to create their ideal retreat will find exciting possibilities at this property in Padstow's desirable location.

Investment Analysis

(PL28 area)

Above Market Value

This property is priced +2.9% above area average per sq ft

+2.9%
This Property
£567/sq ft
Area Average
£551/sq ft

Renovation Potential

Medium Refurb
Est. Renovation Cost
£20,000 - £35,000
Target Value
£347,358
10% above area average per sq ft
Potential ROI
-3.5%
After renovation
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
6
Average per month
Market Turnover
5%
Properties sold annually

Local Market Trend (PL28)

Area prices are stable by +0.1% over the last 12 months
3 year growth: -20.5%
5 year growth: -19.1%
Investment Disclaimer: Analysis based on PL28 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

Alma Place, Padstow, PL28
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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
£1,191
Based on a loan of £243,750 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