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Montgomery Road, Penwithick, St. Austell - Image 1
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Montgomery Road, Penwithick, St. Austell

South West

£85,000
Listed on 04/10/2025

Property Details

Bedrooms
2
Type
Flat
Area
700 sqft

Description

This two-bedroom, first-floor apartment presents a solid opportunity for renovation and investment in the heart of Penwithick. While the property requires modernization, its structure provides a blank canvas for potential homeowners or investors looking to improve value over time. The apartment is sold with no onward chain and vacant possession, allowing for a straightforward transition. Upon entering, you are welcomed by a spacious hallway leading to an expansive lounge bathed in natural light. The accommodation features two well-proportioned double bedrooms, a kitchen/diner with ample space for enhancements, and a bathroom that can be updated to suit modern tastes. Outside, the property boasts an enclosed rear garden—a sizable area ideal for outdoor activities or future landscaping projects. Notably, this unit is classified as a repaired Cornish Unit but maintains mortgage eligibility with a valid PRC certificate. The property benefits from connections to mains electricity, water, and drainage while falling under council tax band A. A lease of 990 years will be granted on completion. Penwithick's locale enhances its appeal with easy access to St Austell’s comprehensive amenities just a few miles away. The village itself houses essential convenience stores and takeaway options. Residents can take advantage of excellent transport links, including a mainline railway station providing direct routes to London Paddington and Penzance. Additionally, the region is home to popular attractions such as the Eden Project and stunning coastal areas on both the north and south shores. Just a short drive away, Charlestown offers picturesque views alongside quality dining experiences. In summary, this property holds significant potential for those willing to invest time and resources into renovations while enjoying the benefits of its strategic location amidst Cornwall's natural beauty and cultural offerings.

Investment Analysis

(PL26 area)

Below Market Value

This property is priced -57.7% below area average per sq ft

-57.7%
Potential saving
This Property
£121/sq ft
Area Average
£287/sq ft
Avg Rent (weekly)
£225
Avg Yield
3.8%

Renovation Potential

Medium Refurb
Est. Renovation Cost
£15,000 - £30,000
Target Value
£221,260
10% above area average per sq ft
Potential ROI
+92.4%
After renovation
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
23
Average per month
Market Turnover
9%
Properties sold annually

Local Market Trend (PL26)

Area prices are rising by +7.6% over the last 12 months
3 year growth: 2.9%
5 year growth: 26.8%
Investment Disclaimer: Analysis based on PL26 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

Montgomery Road, Penwithick, St. Austell
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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
£311
Based on a loan of £63,750 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