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Newmills Lane, Truro TR1 - Image 1
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Newmills Lane, Truro TR1

South West

£200,000
Listed on 15/12/2025

Property Details

Bedrooms
N/A
Type
Detached house

Description

This is a unique opportunity to acquire about 8 acres of south-facing pasture land, accompanied by the remnants of a derelict building, set against the backdrop of Truro's idyllic countryside. The property consists of two fields with direct access from New Mills Lane and offers potential for those looking to invest in agricultural or development projects. While the land has primarily served as grazing space, it is bordered by established hedges and provides stunning views over the surrounding rural landscape. Historically, the site featured a row of old cottages that were repurposed for agricultural use during the last war, highlighting its potential for restoration or redevelopment. One notable aspect of this property is the associated uplift clause—if planning permission is obtained within 25 years for development purposes, the original vendors will benefit from 25% of the uplift in value. Although there was a recent planning application to convert the existing stone structure into residential use that was declined, ambitious investors may see other avenues for potential development given the right proposals. The land currently has no connected services but boasts a charming capped stone-lined well on-site. Prospective buyers are encouraged to investigate utility options and rights associated with the property thoroughly. Located just outside Truro City along a tranquil country lane, this site offers convenient access to local amenities while providing an appealing environment for outdoor activities such as walking and cycling along nearby footpaths.

Investment Analysis

(TR1 area)
Area Average
£321/sq ft
Avg Rent (weekly)
£298
Avg Yield
4.7%

Renovation Potential

Heavy Refurb
Est. Renovation Cost
£60,000 - £90,000
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
27
Average per month
Market Turnover
12%
Properties sold annually

Local Market Trend (TR1)

Area prices are falling by +3.5% over the last 12 months
3 year growth: 3.6%
5 year growth: 15.1%
Investment Disclaimer: Analysis based on TR1 area averages and may not reflect property-specific factors like condition, exact location, or unique features. Any renovation cost estimates provided are AI-generated and should be considered indicative only. 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

Newmills Lane, Truro TR1
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Mortgage Calculator

£
£
£
%
%
years

Current average 2-year fixed rate is 4.19%

Current average variable rate is 6.78%

Monthly Repayments
£733
Based on a loan of £150,000 over 30 years at 4.19% 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.

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YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE