1 Higher Gwavas Road, Newlyn, Penzance, Cornwall, TR18 5NZ

Description

A three-bedroom semi-detached house situated in Newlyn, near Penzance, enjoying sea views. The property is conveniently located for local shops, pubs and restaurants, with nearby bus services. Penzance town centre and railway station are also within easy reach. The property requires modernisation throughout and offers an opportunity to create a family home or holiday home investment.

Accommodation

Ground floor: Living room 6.17m x 4.42m with bay window overlooking the coast, kitchen 3m x 1.94m, separate dining room 5.95m x 2.94m, utility room, WC. First floor: Bedroom 3.84m x 2.85m, bedroom 3.13m x 2.87m, bedroom 2.6m x 2.25m, family bathroom 1.95m x 1.94m. Externally: front and rear gardens and garage.

Location

Newlyn, near Penzance, Cornwall. Close to local shops, pubs, restaurants and bus services. Penzance town centre and railway station are within easy reach. The property enjoys sea views.

Tenure / Property Information

Investment Analysis

The strongest supplied evidence is the completed sale of the comparable three-bedroom semi-detached 3 Higher Gwavas Road at £365,500 in October 2021. Older sales on the same road were £265,000 in 2013 and £282,000 in 2007. A base GDV of £365,500 is used as an indicative modernised-property scenario, but this is not a formal valuation and no condition-adjusted or current comparable evidence is supplied.

Investment Snapshot

Strategy Recommendation

Proceed only subject to satisfactory legal-pack review, inspection and a verified modernisation budget. The strongest supported angle is a family-home or modernisation-led resale opportunity; BTL and BRRR should not be relied upon without rent and cost evidence.

Works Required

Modernisation throughout, as stated in the description. The supplied evidence does not specify individual defects, structural works, service upgrades, kitchen or bathroom requirements, or external works, so no detailed scope or cost allowance can be supported.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the indicative £365,500 base GDV, 75% refinancing would be £274,125. However, refurbishment cost, finance costs, taxes and full acquisition costs are not supplied, so cash required and cash left in cannot be calculated. The strategy is not underwritable from the evidence provided.

Buy-to-Let Analysis

BTL returns cannot be established because no sufficiently specific rental comparable or auctioneer rent estimate is supplied. The description refers to possible holiday-home investment, but no holiday-let income evidence is provided. Modernisation costs and additional auction/legal costs are also unknown.

Flip Analysis

The supplied same-road 2021 sale supports an indicative resale scenario of £365,500 after modernisation. A flip surplus cannot be calculated because refurbishment, finance, selling and other project costs are unsupported. The older £282,000 sale is used only as a low historical reference, not a current valuation.

Investor Risks & Due Diligence

• The property requires modernisation throughout, but no works scope or cost estimate is supplied.

• The base GDV relies primarily on one same-road sale completed in October 2021 and is not a formal valuation.

• No sufficiently specific rental evidence is available, so BTL yield and holiday-let income cannot be assessed.

• Additional search, seller-cost reimbursement, legal and transfer fees may apply under the Special Conditions of Sale.

• The guide-price acquisition cost is not the complete project cost; buyer premium, admin charge and unknown works and professional costs must also be considered.

Recommendation

Proceed only subject to satisfactory legal-pack review, inspection and a verified modernisation budget. The strongest supported angle is a family-home or modernisation-led resale opportunity; BTL and BRRR should not be relied upon without rent and cost evidence.

Strategy Rating

Analysis Confidence

A same-road freehold comparable and property description are available, but there is no supported refurbishment budget, rental evidence, current valuation evidence, condition survey, or complete legal and project-cost information.