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3 x 1 BED FLATS | TR19

South West

£130,000Guide Price

Listed on 07/11/2026

The listing

Property details

Bedrooms
3
Type
Flat
Area
489 sqft

Features

  • Garden
  • Parking

Description

Offered at auction, this leasehold portfolio comprises three self-contained ground-floor one-bedroom flats in a purpose-built block near West Cornwall Hospital and Penzance town centre. Each flat has an open-plan living area and kitchen, a double bedroom, a utility room and a shower room. The flats are offered with vacant possession and are described as having been let for many years, with cosmetic updating now required. The listing gives individual floor areas of 489, 492 and 490 sq ft. Each flat has access to a paved courtyard garden, and the development includes residents' parking. The leases are to be granted for 999 years. Residential letting is permitted with prior consent under the stated lease terms, while holiday and short-term letting are excluded. The listing cites local agents' estimated rent of £650 per month per flat after renovation; this is an estimate, not a guaranteed income.

WHOTS analysis

Our WHOTS verdict

An internal assessment of the opportunity to acquire, improve and create value.

56out of 100
Grade DWeak opportunity

Confidence: MEDIUM

At £130,000, the asking price is 13.3% below the local average per square foot, making this a comparatively cheap entry point. The three vacant, self-contained flats near West Cornwall Hospital offer a clear cosmetic-refresh project: update the dated finishes, renew worn flooring and tidy the paved courtyard areas. The block appears generally intact in the photos, with no obvious major structural failure.

The overall score is still a weaker opportunity: the price advantage is offset by moderate project economics and average fundamentals and location. The listing is presented as an auction, and bidding can take the hammer above the guide, so the eventual price may not stay this cheap.

Key opportunities

  • Acquire three self-contained flats together, with vacant possession and a long new lease stated in the listing.
  • Refresh dated finishes and worn flooring across the photographed interiors for a cosmetic uplift.
  • Improve the paved courtyard areas by clearing weeds and debris and making good the paving and fencing.

Key risks

  • The moderate economics leave limited headroom against the implied current local average value, despite the below-average asking price per square foot.
  • Check the lease pack for service-charge, communal-area and residential-letting conditions, including the stated consent requirement.

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Map

Location

3 x 1 BED FLATS | TR19
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Transport

Nearest stations

  • Penzance Rail Station

    0.5 miles

    Train · Penzance

  • St Erth Rail Station

    5.5 miles

    Train · St Erth

  • Lelant Saltings Rail Station

    5.9 miles

    Train · Lelant

  • Carbis Bay Rail Station

    6.2 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
£531
Based on a loan of £97,500 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

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Indicative tax based on the asking price and the options you select.

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