Tregenna Steps Studio, Tregenna Terrace, St. Ives, Cornwall, TR26 2DL

Description

A unique one bedroom detached coastal residence having fabulous views to the harbour and sea beyond. Originally utilised as a studio during the 1950's, the property was redesigned in the 1990's, offering four distinct open plan areas with living room with dual french doors leading out to the terrace, kitchen/breakfast room, dining room and shower room to the ground floor and a galleried mezzanine double bedroom to the first floor.

Accommodation

Ground floor: Open plan living room area with wood burning stove, through to the kitchen/breakfast room, with dining room and shower room off. First floor: Mezzanine galleried double bedroom overlooking the living area.

Location

St Ives offers a wide range of bespoke shops, galleries and restaurants along with recreational facilities catering for all age groups and a branch line to Carbis Bay and Penzance. The property has views to the harbour and sea beyond.

Tenure / Property Information

Investment Analysis

The £375,000+ guide is supported only as an auction pricing reference and by the property's historic sale at £375,000 in 2007. The other supplied sales relate to Alpha House, a different detached property at the same address, so they are not sufficiently specific for a reliable current valuation. No current comparable evidence or formal valuation is supplied; therefore £375,000 is used as an indicative base GDV only, not a formal market value.

Investment Snapshot

Strategy Recommendation

Do not bid on yield or refurbishment assumptions at this stage. Treat the guide as an unverified market anchor and proceed only after reviewing the legal pack, confirming tenure and liabilities, inspecting condition, and obtaining evidence for achievable rent and resale value.

Works Required

No specific defects or required works are evidenced. Obtain a building survey and inspect the kitchen, shower room, wood-burning stove, terrace, French doors, mezzanine, structure and services before bidding. Confirm EPC compliance and all legal-pack requirements.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the indicative £375,000 base GDV, 75% refinance would be approximately £281,250. Refurbishment cost, total project cost and cash left in cannot be calculated because no condition-based works allowance or complete acquisition-cost schedule is available. The absence of confirmed rent also prevents a reliable refinance affordability assessment.

Buy-to-Let Analysis

BTL analysis cannot be established because no sufficiently specific rental evidence or auctioneer rent estimate is supplied. The property has one bedroom and an EPC rating of D, but achievable rent, operating costs, finance costs and letting suitability remain unverified.

Flip Analysis

A flip appraisal cannot be reliably completed. The indicative base GDV is £375,000, but refurbishment costs, resale costs and current comparable evidence are unavailable. The historic exact-property sale and different Alpha House sales do not establish a supported current resale surplus.

Investor Risks & Due Diligence

• No tenure, occupancy or lease information is supplied; these must be confirmed from the legal pack.

• No current, sufficiently specific comparable sales are supplied; the Alpha House transactions relate to a different property.

• No rental evidence or auctioneer rent estimate is available, preventing yield and BTL assessment.

• No condition survey or refurbishment cost evidence is supplied.

• Buyer administration charge is 1.62% including VAT at the guide price, approximately £6,075, subject to the stated minimum and catalogue terms.

• The legal pack may include additional charges, including possible seller's legal fees.

• No parking information is supplied.

• The property relies on a wood-burning stove for heating, but its condition, certification and adequacy are unverified.

Recommendation

Do not bid on yield or refurbishment assumptions at this stage. Treat the guide as an unverified market anchor and proceed only after reviewing the legal pack, confirming tenure and liabilities, inspecting condition, and obtaining evidence for achievable rent and resale value.

Strategy Rating

Analysis Confidence

The description, guide, EPC, council tax and historic sales are supplied, but tenure, occupancy, lease details, condition, rental evidence, current comparable sales and complete acquisition costs are missing.