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Drift, Penzance TR19

South West

£130,000
Listed on 07/10/2025

Property Details

Bedrooms
N/A
Type
Detached house
Area
915 sqft

Description

This former Methodist Chapel in the village of Drift presents a distinctive opportunity for renovation and investment. Originally constructed as a Bible Christian Chapel, this historical structure features elements dating back to 1876, providing a unique backdrop for conversion into a residential dwelling. The property retains charming features such as attractive flagstone flooring in the entrance vestibule and high ceilings in the worship hall, creating an airy atmosphere. With a positive pre-application from Cornwall County Council already in place regarding its transformation into a single residence, this space could be revitalized with thoughtful design. The internal layout includes generous areas that offer flexibility for reconfiguration, including the former meeting room which could serve as additional living space or accommodation. Set against the serene landscapes of South West England, with proximity to Penzance and Sennen's sandy beaches, this chapel holds substantial potential for those looking to invest in a unique property.

Investment Analysis

(TR19 area)

Below Market Value

This property is priced -62.2% below area average per sq ft

-62.2%
Potential saving
This Property
£142/sq ft
Area Average
£376/sq ft

Renovation Potential

Medium Refurb
Est. Renovation Cost
£60,000 - £100,000
Target Value
£378,394
10% above area average per sq ft
Potential ROI
+64.5%
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
4%
Properties sold annually

Local Market Trend (TR19)

Area prices are falling by +5.9% over the last 12 months
3 year growth: 9.5%
5 year growth: 28.6%
Investment Disclaimer: Analysis based on TR19 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

Drift, Penzance TR19
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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
£476
Based on a loan of £97,500 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