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Newmill, Penzance, Cornwall TR20

South West

£475,000

Listed on 17/07/2026

Property details

Bedrooms
3
Type
Cottage
Area
1795 sqft

Description

Nestled in a secluded lane shared by just four homes, this charming rural cottage is enveloped by mature gardens and presents an intriguing opportunity for enhancement. With its unique character and potential for modernization, this property serves as a blank slate for buyers eager to craft their personalized countryside retreat. Inside, the home boasts traditional farmhouse features such as exposed granite walls, rustic beams, and a prominent fireplace that adds warmth to the living space. The ground floor consists of a spacious 25-foot lounge/living area alongside a separate kitchen/diner that opens out to the garden via patio doors. On the upper floor, you will find three double bedrooms; one offers lovely distant sea views across the picturesque landscape. The master bedroom is complemented by an en-suite shower room, while a well-sized family bathroom accommodates the other two bedrooms. Additionally, there is a double garage equipped with power and plumbing, which could be converted into further living space with the appropriate planning permissions. This property not only promises comfort but also invites innovation and customization for those wishing to invest in a distinctively modernized home in Cornwall.

Investment analysis

(TR20 area)

Below Market Value

This property is priced -25.6% below area average per sq ft

-25.6%
Potential saving
This Property
£265/sq ft
Area Average
£356/sq ft

Renovation Potential

Medium Refurb
Est. Renovation Cost
£40,000 - £70,000
Target Value
£702,428
10% above area average per sq ft
Potential ROI
+28.9%
After renovation
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
8
Average per month
Market Turnover
5%
Properties sold annually

Local Market Trend (TR20)

Area prices are rising by +14.1% over the last 12 months
3 year growth: +7.8%
5 year growth: +16.4%
Investment Disclaimer: Analysis based on TR20 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

Newmill, Penzance, Cornwall TR20
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Mortgage calculator

£
£
£
%
%
years

Current average 2-year fixed rate is 4.45%

Current average variable rate is 6.60%

Monthly Repayments
£1,794
Based on a loan of £356,250 over 30 years at 4.45% 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.

Stamp duty calculator

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