2-bedroom flat · PL23 1JB
Sold STCListed 80 days
Opportunity summary
See Archie’s verdict, returns by strategy and what to check before viewing.
About
Panoramic Harbour Views, Ground Floor Apartment, Parking For Two, No Onward Chain Occupying a superb elevated position overlooking the beautiful Fowey Estuary, this spacious two-bedroom ground floor apartment enjoys breathtaking panoramic harbour views, tandem parking for two vehicles and is offered to the market with no onward chain.
Equally suited as a permanent residence, coastal retreat or holiday let investment, this is a rare opportunity to secure a home in one of Cornwall's most desirable waterfront locations.
Forming part of the elegant Penlee House, a former hotel converted into just seven individual apartments, the property enjoys an enviable setting just a short stroll from Readymoney Beach, the South West Coast Path and Fowey's picturesque harbour, boutique shops, cafés and renowned restaurants.
Internally, the apartment offers generous and well-planned accommodation throughout.
The standout feature is the impressive open plan living and dining room, where three large windows perfectly frame the ever-changing harbour views, creating a wonderful space to relax or entertain.
A door opens directly onto a private side courtyard, allowing you to enjoy the coastal setting from outside.
The adjoining kitchen is fitted with a range of modern wall and base units, complemented by integrated appliances including an oven, microwave, electric hob and fridge/freezer, providing a practical and contemporary workspace.
The principal bedroom is a comfortable double with an excellent range of built-in wardrobes and storage cupboards, while the second double bedroom provides flexible accommodation for family or guests.
In addition, a separate study offers an ideal home office or occasional guest room, making the apartment particularly versatile.
The property benefits from both a family bathroom and a separate shower room, both of which offer excellent scope for modernisation, allowing the next owner to add their own style and value.
Externally, the apartment enjoys a private side courtyard with views across the harbour towards Pont, as well as access to well-maintained communal gardens positioned to take advantage of the stunning estuary outlook.
Directly opposite the property is a private tandem parking space accommodating two vehicles a valuable feature in this sought-after waterside town.
The property benefits from a recently extended 965-year lease, offering exceptional long-term security, together with a share of the freehold through ownership of the management company.
The annual service charge is currently £3,251 , covering the maintenance and upkeep of the building and communal areas, with no ground rent payable.
With spectacular harbour views, generous living accommodation, private parking, an exceptionally long lease and an outstanding location within easy walking distance of everything Fowey has to offer, this wonderful apartment presents a fantastic opportunity to enjoy one of Cornwall's most desirable coastal destinations.
Please note: The property is offered for sale with vacant possession and is currently unfurnished.
Some of the marketing images have been digitally furnished using virtual staging to help illustrate the potential layout and use of the accommodation.
Fixtures, furnishings and decor shown in these images are for illustrative purposes only and do not form part of the sale.
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.
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FAQ
About 1 Penlee Flats, 2 Tower Park, Cornwall
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