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Alverton Street, Penzance, TR18 - Image 1
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Alverton Street, Penzance, TR18

South West

£375,000

Listed on 12/06/2026

Property Details

Bedrooms
7
Type
End Of Terrace
Area
1947 sqft

Description

This former public house has been transformed into a fully residential property, offering significant redevelopment and conversion possibilities. Spanning three levels, it presents an excellent opportunity for investors or developers looking to maximize its potential as either a unique residential space or a creative commercial venture, subject to the necessary permissions. The ground floor retains many original features from its pub days, including two spacious reception areas and utility facilities that could be reconfigured to suit modern living or working needs. The first floor comprises flexible accommodation with the potential to serve various purposes, such as a living area combined with workspace, featuring an en-suite bedroom, a large additional room ideal for office use or further bedrooms, and an open-plan section ripe for customization. The top floor includes three more rooms, a shower room, and an additional kitchen area. Given its layout, there is ample scope to convert this property into self-contained flats or adapt it for mixed-use applications like galleries or cafes—subject to planning consent. Externally, it benefits from a private courtyard and ownership of adjacent pavement space which allows off-road parking for two vehicles. This Grade II listed building holds historical charm while offering flexibility in modern usage; particularly appealing is the attractive multi-paned front windows which contribute to its character. Prospective buyers are encouraged to conduct their own inquiries regarding listings and permitted uses. Located in the vibrant market town of Penzance near Mounts Bay in South West Cornwall, this property is surrounded by essential amenities as well as cultural attractions such as Jubilee Pool and Morrab Gardens. With nearby towns like Newlyn and Marazion just a short drive away, this versatile property holds substantial investment potential in a notable setting.

Investment Analysis

(TR18 area)

Below Market Value

This property is priced -38.3% below area average per sq ft

-38.3%
Potential saving
This Property
£193/sq ft
Area Average
£312/sq ft
Avg Rent (weekly)
£244
Avg Yield
4.5%

Renovation Potential

Medium Refurb
Est. Renovation Cost
£80,000 - £120,000
Target Value
£668,425
10% above area average per sq ft
Potential ROI
+35.0%
After renovation
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
21
Average per month
Market Turnover
7%
Properties sold annually

Local Market Trend (TR18)

Area prices are rising by +4.6% over the last 12 months
3 year growth: +0.2%
5 year growth: +21.6%
Investment Disclaimer: Analysis based on TR18 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

Alverton Street, Penzance, TR18
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Mortgage Calculator

£
£
£
%
%
years

Current average 2-year fixed rate is 4.45%

Current average variable rate is 6.60%

Monthly Repayments
£1,417
Based on a loan of £281,250 over 30 years at 4.45% 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.

Stamp Duty Calculator

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