5 New Road, Port Isaac, Cornwall

Description

A substantial six-bedroom detached property with sea views situated in the sought-after coastal village of Port Isaac, Cornwall. The property is currently arranged as two self-contained apartments. The ground floor apartment comprises a kitchen, living room, two bedrooms, and a bathroom. The first and second floor apartment offers a kitchen, living room, four bedrooms, a bathroom, and a separate W.C. The property offers potential for conversion back to a spacious family home or use as holiday accommodation or a long term rental, subject to any necessary consents. Although requiring refurbishment, it presents an opportunity for purchasers to add value and create a coastal residence or investment. Externally, the property benefits from a side garden and a rear courtyard. There is independent access to both the ground floor and upper floor apartments.

Accommodation

Ground floor: living room measuring 3.70m x 4.25m; kitchen/diner measuring 3.63m x 4.44m; two bedrooms measuring 3.70m x 4.44m and 3.63m x 3.71m; bathroom measuring 2.32m x 2.02m. First floor apartment: living room measuring 3.70m x 4.69m; kitchen/diner measuring 3.63m x 3.68m; bathroom measuring 2.53m x 2.08m; bedrooms measuring 3.70m x 4.01m and 2.53m x 2.26m. Second floor: bedrooms measuring 3.47m x 3.90m and 3.47m x 4.31m.

Location

Situated in the coastal village of Port Isaac, Cornwall, described as one of Cornwall's popular and picturesque fishing villages. The property has sea views.

Tenure / Property Information

Investment Analysis

The guide is £295,000 plus £1,800 stated buyer/admin charges. Same-road completed sales range from £314,000 to £868,750, but dates are 2010–2015 and the evidence does not establish current market value, condition-adjusted value or a reliable GDV.

Investment Snapshot

Strategy Recommendation

Do not bid on current evidence without reviewing the legal pack, confirming consents and obtaining independent refurbishment, valuation and rental assessments.

Works Required

Refurbishment of the two existing apartments. Any conversion back to one family home or continued use as holiday accommodation would require assessment of necessary consents. No detailed works schedule or cost evidence is supplied.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

BRRR cannot be underwritten because refurbishment costs, current GDV, achievable rent and refinance value are unsupported. The stated purchase price plus known buyer/admin charges would be £296,800 before works and any disbursements.

Buy-to-Let Analysis

BTL analysis cannot be established because no sufficiently specific rental evidence or auctioneer rent estimate is supplied. The property is currently arranged as two apartments, but income and compliance assumptions are unavailable.

Flip Analysis

A flip surplus cannot be calculated. Historic same-road sales provide context only and do not support a current, condition-adjusted GDV or selling-cost allowance.

Investor Risks & Due Diligence

• Refurbishment scope and cost are not provided.

• Use as one home, holiday accommodation or long-term rental may require necessary consents.

• No sufficiently specific rental evidence is available.

• Legal-pack disbursements may become payable on completion.

• Historic comparable sales are dated and may not reflect current value or this property's condition.

Recommendation

Do not bid on current evidence without reviewing the legal pack, confirming consents and obtaining independent refurbishment, valuation and rental assessments.

Strategy Rating

Analysis Confidence

The property description, guide, known charges and historic same-road sales are supplied, but current valuation, works costs, rent, disbursements and consent information are incomplete.