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Paynters Lane, Redruth

South West

£225,000
Listed on 21/10/2025

Property Details

Bedrooms
N/A
Type
Terraced house

Description

Nestled in a sought-after residential neighborhood, this former chapel stands as a compelling opportunity for renovation and investment. With approved planning permission for conversion into two spacious four-bedroom family homes (planning number PA22/02587), this unique property offers significant potential to create substantial living spaces in a thriving community. The property has already undergone a range of preliminary renovations, making it ready for the next owner to put their personal touch on its transformation. Key improvements include the removal of the old rendering and the application of a new 4:1:1 lime render on the main hall, along with repointing efforts to enhance the north-facing vestibule and surrounding walls. The vendor has also replaced the guttering and addressed previous water ingress issues, ensuring that the structural integrity is sound. With land extending on three sides and available parking facilities, this property not only benefits from generous outdoor space but also offers ample room for design creativity. Its striking architecture makes it a notable presence in the area, complemented by proximity to local shops, bus services, and recreational areas such as Tehidy Country Park and golf courses. Potential buyers are encouraged to explore this property further—an inspection will reveal not only what has been accomplished but also the possibilities that remain for creating two impressive homes. A comprehensive list of completed works is available upon request. Viewing is highly recommended to fully appreciate the scope of this investment opportunity.

Investment Analysis

(TR16 area)
Area Average
£318/sq ft
Avg Rent (weekly)
£284
Avg Yield
4.6%

Renovation Potential

Medium Refurb
Est. Renovation Cost
£150,000 - £250,000
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
10
Average per month
Market Turnover
8%
Properties sold annually

Local Market Trend (TR16)

Area prices are falling by +7.7% over the last 12 months
3 year growth: -15.0%
5 year growth: 15.2%
Investment Disclaimer: Analysis based on TR16 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

Paynters Lane, Redruth
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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
£824
Based on a loan of £168,750 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