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Wagg Lane, Probus

South West

£500,000
Listed on 07/10/2025

Property Details

Bedrooms
2
Type
Detached house
Area
1284 sqft

Description

This detached bungalow is set in a tranquil location, boasting expansive views of the surrounding countryside. Situated within easy walking distance to the village center, this property has been under the same ownership since its construction in the late 1960s and presents a unique opportunity for renovation and investment. Offering two bedrooms with the potential for a third—currently utilized as a separate dining room—the layout includes a kitchen/dining area featuring an Aga, a comfortable sitting room with sliding doors leading to a spacious balcony, and a well-sized bathroom. The home benefits from gas central heating and double glazing, though it requires modernization to fully realize its potential. The large enclosed gardens surround the bungalow, providing ample outdoor space complemented by established lawns and mature plantings. A tarmac driveway accommodates multiple vehicles and leads to a single garage equipped with light and power, while additional storage options are available beneath the property. Located in Probus, one of mid Cornwall’s better-served villages, residents enjoy access to various amenities including shops, eateries, schools, and public transport connections. The village offers conveniences such as a farm shop, butcher, primary school, community hall, health services, and restaurants—all contributing to its appeal. Probus is also conveniently positioned for commuting; Truro lies approximately six miles away with excellent shopping options and educational institutions. The nearby Roseland Peninsula offers picturesque beaches, while quick access to the A30 facilitates travel throughout Cornwall. Additionally, Newquay Airport is just a 20-minute drive away, providing regular domestic flights. Given its size and location in a desirable village setting—combined with neighboring properties that have undergone successful expansions—this bungalow has significant potential for improvement or reconfiguration. With careful planning and vision, it can be transformed into an ideal family home or an investment property reflecting modern standards while retaining its charm.

Investment Analysis

(TR2 area)

Above Market Value

This property is priced +1.7% above area average per sq ft

+1.7%
This Property
£389/sq ft
Area Average
£383/sq ft

Renovation Potential

Medium Refurb
Est. Renovation Cost
£30,000 - £50,000
Target Value
£540,879
10% above area average per sq ft
Potential ROI
-1.7%
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
6%
Properties sold annually

Local Market Trend (TR2)

Area prices are falling by +13.9% over the last 12 months
3 year growth: -3.4%
5 year growth: 2.6%
Investment Disclaimer: Analysis based on TR2 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

Wagg Lane, Probus
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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
£1,832
Based on a loan of £375,000 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