This distinctive multi-unit property presents a compelling investment opportunity situated in one of St Ives' most revered terraces, renowned for its unparalleled views of Porthmeor Beach and the coastline extending towards Godrevy Lighthouse. Comprising 11 self-contained apartments, the property not only boasts desirable living spaces but also includes ample parking for eight vehicles and a garage, enhancing its attractiveness for both renters and potential developers.
Currently, ten of the apartments are occupied under Assured Shorthold Tenancies (AST), with some tenants enjoying long-term residency, while the top-floor unit remains as personal accommodation for the owner. The annual income from these rentals approaches £86,000, providing a solid return on investment. Given the property's prime location and existing rental arrangements, it offers immediate cash flow along with significant potential for future enhancement.
The building's condition suggests opportunities for renovation or reconfiguration; notably, there is potential to develop an additional 12th apartment. This flexibility allows investors to explore further options that could increase overall value and rental yield.
Nestled at the end of Carthew Terrace, this property enjoys proximity to St Ives' vibrant community life. The town is celebrated for its captivating beaches, artistic culture, and culinary offerings, attracting visitors year-round. Residents benefit from a mild climate and numerous outdoor activities available in this scenic locale.
The well-designed layout of each apartment offers breathtaking coastal views from many units. With a dedicated car park at the front and additional parking facilities, this property aligns well with current residential demands in St Ives. Overall, this multi-let freehold property stands out not only due to its strategic location but also because of its renovation potential—making it particularly appealing to developers and long-term investors alike. Plans for future configurations are available upon request.
