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Rear Of Wesley Street, Heamoor, Penzance TR18 - Image 1
Rear Of Wesley Street, Heamoor, Penzance TR18 - Image 2
Rear Of Wesley Street, Heamoor, Penzance TR18 - Image 3

Rear Of Wesley Street, Heamoor, Penzance TR18

South West

£180,000
Listed on 06/09/2025

Property Details

Bedrooms
N/A
Type
Detached house

Description

This property presents a unique opportunity for renovation and investment in a tranquil setting. Situated within the quaint village of Heamoor, just about a mile from Penzance, it boasts an array of potential development options, subject to securing the necessary planning permissions. The freehold property encompasses a versatile workshop space and a spacious garage, making it ideal for various uses or modifications. The surrounding area offers essential local amenities, including primary and secondary schools, a village shop, pub, church, and chemist—all within convenient reach. A leisurely 10-15 minute walk leads directly into the heart of Penzance via an underpass, providing easy access to additional services and attractions. For those who enjoy outdoor activities, picturesque country walks in Bone Valley are right at your doorstep. The primary workshop is housed in a two-story block and stone structure with a recently replaced pitched slate roof. It features practical elements like an up-and-over door on the ground floor and both side and front doors on the upper level. The block-and-beam construction hints at its former residential use while providing substantial renovation possibilities. Currently configured as two separate workshop units, each measuring approximately 6.86m x 6.12m and generating £55 per week in rental income, they include power supply and solid stone wall construction at the sides and rear. Additionally, there is a large garage measuring 5.33m x 3.84m—offering more flexible space with £25 per week in current rent. This property not only has existing income-generating components but also presents multiple avenues for future enhancement or expansion, making it an intriguing prospect for seasoned investors or first-time developers alike.

Investment Analysis

(TR18 area)
Area Average
£319/sq ft
Avg Rent (weekly)
£237
Avg Yield
4.1%

Renovation Potential

Est. Renovation Cost
£18,000 - £45,000
10-25% of property value
Monthly Sales
12
Average per month
Market Turnover
13%
Properties sold annually

Local Market Trend (TR18)

Area prices are rising by +6.2% over the last 12 months
3 year growth: 3.5%
5 year growth: 26.5%
Investment Disclaimer: Analysis based on TR18 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

Rear Of Wesley Street, Heamoor, Penzance TR18
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