2-bedroom flat · PL15 9FH
Listing removedListed 361 days
Opportunity summary
See Archie’s verdict, returns by strategy and what to check before viewing.
About
This detached coach house was constructed during 2013 by national developers Wain Homes and comes to the market with a local Section 106 agreement.
This affordable property is situated within a quiet area on a popular edge of town development which is conveniently close to all the local amenities.
It offers two double bedrooms, one with built in wardrobes with sliding mirror doors.
The family bathroom enjoys a mains fed shower and screen over a white panelled bath and there is a matching white hand basin and WC.
The lounge is central to the home and can accommodate a dining set, as well as more comfortable furniture. The kitchen is open to the room and fitted with both base and wall mounted wood effect units.
The cooker has a gas hob and an electric oven and will be included within the sale. There is plumbing in place for a dishwasher washer and space for a fridge/freezer.
The property is double glazed and heated by mains gas central heating.
Downstairs in the lobby there is an integral door opening into the spacious garage which has a useful cupboard and plumbing for a washing machine.
An up and over door opens to the parking area at the front. A pedestrian side door allows access to the enclosed rear garden which is laid to gravel with a raised decked area.
There are two further garages under the coach house belonging to neighbouring properties which are on a leasehold tenure.
This property will suit first time buyers trying to get on the first rung of the property ladder.
The property is conveniently situated within a popular edge of town development approximately one mile from the heart of the town centre which boasts a range of shopping, educational, commercial and recreational facilities.
Closer to hand is the Tesco Superstore and on Hurdon Road the Launceston Retail Park.
The town lies adjacent to the A30 dual carriageway giving access to Truro and West Cornwall in one direction and Exeter and beyond in the opposite direction.
Agents Note The property is subject to a Section 106 agreement dated 8th March 2010 and can now be purchased by a suitable applicant for a Council approved figure of £119,000 which represents 70% of the full market value (£170,000).
Interested parties should contact us to enquire about eligibility and the onward process.
There is a maintenance charge of approximately £197.70 payable yearly for the upkeep of communal areas within the development.
From the Town Square proceed into Southgate Street and through the Southgate Arch.
Follow the road around to the left into Exeter Street passing the Newmarket Inn on the right hand side and at the forthcoming junction turn right into Tavistock Road.
Continue straight ahead at the two mini-roundabouts passing Launceston College on the right hand side.
Continue along this road heading over the bridge and at the traffic lights take the left hand turn into the development (Kit Hill View).
Upon entering the development turn right and then bear right where the road splits. Continue along and around to the left into Haye Common Drive.
Follow the road along entering Penhole Drive where if you proceed down this road the entrance to the courtyard where 17 Penhole Drive will be found is located on the left hand side under another coach house.
what3words.com - ///february.homework.rekindle Kitchen 1.96m x 2.6m Lounge/Dining Room 3.25m x 5.36m Bedroom 1 2.9m max x 4.01m max Bedroom 2 1.96m x 2.67m Bathroom 1.73m x 2.13m Garage 2.5m x 5.38m SERVICES Mains water, electricity, drainage and gas.
COUNCIL TAX A: Cornwall Council. TENURE Freehold. VIEWING ARRANGEMENTS Strictly by appointment with the selling agent.
Value & comps
No previous sales on record.
Returns
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Archie refurb estimate: a Pro feature
0.0% below asking
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Deal
Properties like this can earn 2–3x BTL yields when converted to HMO, with retrofit costs around £10k/room. Sign in to see the full tier, yield projection, and cost breakdown.
Commercial properties like this can earn 30-50% higher yields when converted to residential under Class MA / Q / P / PA, with prior approval costing ~GBP 96/unit. Sign in to see the recommended route, yield uplift, and cost breakdown.
BRRR-suited properties can recycle 80-100% of investor capital on refi, leaving a high-yielding rental with most of the money out. Sign in to see the refurb cost stack, ARV projection, and refinance maths.
Detached + large garden = sub-division play. Pro tier unlocks the tier badge, plot size, uplift estimate, and regional land benchmark.
Short-lease flats trade at deep discount, but extending under the 1993 Act often costs far less than the discount. Pro tier unlocks the tier badge, premium breakdown, long-lease ARV and arbitrage maths.
See projected short-stay revenue vs a vanilla BTL for this property.
See real sub-let margins (HMO room rates & SA nightly rates) vs the landlord rent.
Area
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FAQ
About Penhole Drive, Launceston, Cornwall, PL15
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