2 Bed Flat | Updating | TR18
South West
£70,000Guide Price
Listed on 07/11/2026
Listed on 07/11/2026
The listing
Property details
Bedrooms
2Type
FlatArea
557 sqftDescription
Offered at auction, this first-floor leasehold flat is in a purpose-built block close to West Cornwall Hospital and Penzance town centre. The two-bedroom accommodation extends to approximately 557 sq ft and comprises an entrance hall, open-plan kitchen, dining and living area, two bedrooms and a bathroom. The flat is offered with vacant possession and a new 999-year lease. The stated service charge is £487.14 per year, with buildings insurance of £156.58 per year. The council tax band is A and the EPC rating is C.
The property has previously been rented and is described as requiring cosmetic updating. The listing gives an indicative rental figure of £850 per month for a renovated flat, subject to verification. The lease is stated to prohibit holiday or short-term letting; residential letting requires prior consent. Pets also require permission. Buyers should review the legal pack for the lease terms, building information and other material details. The auction listing specifies an eight-week completion period, or earlier by mutual agreement.
WHOTS analysis
Our WHOTS verdict
An internal assessment of the opportunity to acquire, improve and create value.
70out of 100
Grade BGood opportunity
Confidence: MEDIUM
At £70,000, this two-bedroom flat is a notably cheap acquisition against the local benchmark: £126/sqf compared with £307/sqf locally. The block and communal grounds appear maintained, and the exterior view shows no obvious major defect. Its location close to West Cornwall Hospital and the town centre adds a clear residential letting angle, subject to the lease terms and required consent.
Inside, the photographs show marked flooring and scuffed walls across several rooms, alongside worn kitchen and bathroom finishes. That gives the next owner scope to renew the interior and make the open-plan living space feel fresh; although the listing calls it cosmetic updating, the visible work is a substantial multi-room programme rather than just a quick refresh.
Key opportunities
- Renew the open-plan kitchen-diner and living area as a more cohesive, modern space.
- Refresh the worn flooring and wall finishes across the flat, with scope to update the dated bathroom fittings as part of the interior programme.
- Acquire at a substantial discount to the local £/sqf benchmark, with the hospital and town-centre location supporting the stated residential letting potential.
Key risks
- Marked flooring, scuffed walls and worn finishes across several rooms make this a substantial multi-room programme; allow time and budget for coordinated interior works rather than a quick cosmetic refresh.
- Residential letting requires prior consent under the lease, and holiday or short-term letting is not permitted.
Unlock the full analysis
Sign up to see the refurb profile, below-market value, yields, and local market trends for this and every other property that has them.
Sign up freeAlready have an account? Sign in
Interested in similar properties?
Create an alert and we'll notify you when similar renovation opportunities are listed.
Transport
Nearest stations
Penzance Rail Station
0.4 miles
Train · Penzance
St Erth Rail Station
5.5 miles
Train · St Erth
Lelant Saltings Rail Station
6.0 miles
Train · Lelant
Carbis Bay Rail Station
6.3 miles
Train · Carbis Bay
Contains public sector information from NaPTAN (DfT) licensed under the Open Government Licence v3.0.
Finance
Mortgage calculator
Illustrative repayments based on the asking price, not a mortgage offer.
£
£
£
%
%
years
Current average 2-year fixed rate is 5.13%
Current average variable rate is 6.58%
Monthly Repayments
£286
Based on a loan of £52,500 over 30 years at 5.13% 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.
Tax
Stamp duty calculator
Indicative tax based on the asking price and the options you select.
Services
Next steps
Explore services to help you with this property purchase.
Get help with this property
Financing, surveys and more – choose a service and we’ll connect you with our trusted partners.
Nearby
Similar properties
Other listings you may want to compare.
