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The Leats, Truro

South West

£475,000
Listed on 09/10/2025

Property Details

Bedrooms
5
Type
Detached house
Area
886 sqft

Description

This detached period house, situated in a prominent position in the center of Truro, presents a noteworthy opportunity for those interested in renovation and investment. Currently used as office space, the property is ripe for conversion into a residential home, pending the requisite planning permissions. The property boasts numerous character details, such as a striking turning staircase and charming leaded multi-paned windows that invite natural light into the space. The entrance porch features a tessellated tiled floor that adds to its period charm, while generous bay windows in the living areas enhance both light and views. Crucially, this property is not listed and does not fall within a conservation area, providing greater flexibility for potential alterations or developments. The exterior includes ample off-street parking for multiple vehicles, with the possibility of adding a garage or covered parking area subject to consents. Additionally, there are development opportunities to consider; conversion into multiple apartments could be feasible with the right planning approvals. Truro itself offers a vibrant mix of amenities including shops, restaurants, and cultural venues like the Hall for Cornwall and Royal Cornwall Museum. Its excellent transport links include mainline railway service to London (Paddington), making it an attractive location for future occupants or tenants. With vacant possession and no onward chain, this property invites exploration of its full potential. A viewing will help you appreciate both its size and scope—truly an intriguing canvas for your next project.

Investment Analysis

(TR1 area)

Above Market Value

This property is priced +67.1% above area average per sq ft

+67.1%
This Property
£536/sq ft
Area Average
£321/sq ft
Avg Rent (weekly)
£298
Avg Yield
4.7%

Renovation Potential

Medium Refurb
Est. Renovation Cost
£100,000 - £150,000
Target Value
£312,700
10% above area average per sq ft
Potential ROI
-50.0%
After renovation
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
27
Average per month
Market Turnover
12%
Properties sold annually

Local Market Trend (TR1)

Area prices are falling by +3.5% over the last 12 months
3 year growth: 3.6%
5 year growth: 15.1%
Investment Disclaimer: Analysis based on TR1 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

The Leats, Truro
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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
£1,740
Based on a loan of £356,250 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.

Next Steps

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YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE