This property presents a noteworthy opportunity for investors and developers looking to capitalize on both existing rental income and future enhancement potential. Currently configured as eight self-contained units—comprising five one-bedroom flats and three studio apartments—this freehold block is fully tenanted, yielding a solid annual income of approximately £54,000. The building’s management is facilitated by the presence of separate electricity meters for six of the units, which contributes to lower operational costs.
With a total internal area of 257.9 square meters, this property sits in an elevated position that not only enjoys significant visibility but also provides several units with attractive sea views over Newquay. This feature enhances its appeal to both current occupants and prospective tenants or buyers in the high-end market.
Importantly, full planning permission has been granted to reconfigure the building into six modern apartments (one one-bedroom and five two-bedrooms), increasing the net lettable area to 464 square meters—an impressive 80% increase that signals considerable potential for capital appreciation. The proposed layout reflects thoughtful design intended to maximize space while considering the aesthetic integration with the surrounding environment.
The development plan includes on-site parking, a valuable addition given increasing demand for such amenities in this area. The location offers excellent connectivity and amenities, ensuring ongoing tenant interest and supporting long-term investment growth.
Comprehensive architectural plans and planning documents are available for review upon request, making it easier for potential investors to visualize the transformation of this property from its current state into a sought-after residential development. This dual opportunity—a stable income generator now coupled with significant redevelopment prospects—makes it a compelling consideration for those looking to invest in Newquay's thriving real estate market.
