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Cowes, Isle Of Wight PO31

South East

£975,000
Listed on 01/10/2025

Property Details

Bedrooms
N/A
Type
Detached house

Description

This development site presents a unique opportunity for renovation and investment, located in a highly desirable waterfront area. With planning consent already granted for the construction of two Marine Villas, this property boasts not only exceptional sea views but also significant potential for future growth. Nestled between the scenic Esplanade and Queens Road, the site commands outstanding vistas over The Solent, including views of the Royal Yacht Squadron start line and across to the Hampshire coast. Being situated within a Conservation Area adds value and enhances the appeal by ensuring that any new construction will harmonize with the area’s historical character. The proposed three-story residences are designed with traditional exteriors in mind, complementing nearby historic homes while offering spacious internal layouts with balconies to maximize the stunning sea views. Covering approximately 0.33 acres, the plot features a 30.5m (100 feet) frontage on the Esplanade and extends about 43.6m (143 feet) deep. Currently, it encompasses an existing building divided into seven apartments that are in disrepair and deemed economically unviable for renovation. Notably, the vendors own both the freehold and leaseholds of five of these units. Planning consent was granted on March 14, 2025 (reference 24/01427/ful), allowing for the demolition of the existing structure and replacement with two new homes designed by The Manser Practice. The proposed properties—Harriet Lodge and Hamlet Court—will offer generous living spaces of 488m² (5256 ft²) and 363m² (3903 ft²), respectively. Each villa is set to include features such as ground floor entrance halls, open-plan kitchen-dining areas leading to balconies, multiple bedrooms with ample bathrooms, utility rooms, and designated parking for at least two vehicles per property. The design also incorporates waterfront gardens that lead down to the Esplanade with gated access. The location further enhances this investment opportunity; residents will find themselves within easy reach of local amenities typical of a renowned sailing centre, including yacht clubs as well as a variety of restaurants and independent shops just a short stroll away. This property’s approved planning permission represents an excellent foundation for developing high-value residential dwellings in a sought-after locale. Comprehensive details regarding planning conditions and related drawings can be accessed through official channels or by contacting the selling agents directly. In summary, this site offers not just existing structural challenges but also immense potential for transformation into modern homes that embrace coastal living—all within an area steeped in charm

Investment Analysis

(PO31 area)
Area Average
£329/sq ft
Avg Rent (weekly)
£239
Avg Yield
3.2%

Renovation Potential

Est. Renovation Cost
£97,500 - £243,750
10-25% of property value
Monthly Sales
13
Average per month
Market Turnover
12%
Properties sold annually

Local Market Trend (PO31)

Area prices are rising by +8.7% over the last 12 months
3 year growth: 14.9%
5 year growth: 32.5%
Investment Disclaimer: Analysis based on PO31 area averages and may not reflect property-specific factors like condition, exact location, or unique features. 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

Cowes, Isle Of Wight PO31
Map showing location of Cowes, Isle Of Wight PO31
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