1-bedroom flat · PL27 7HP
Sold STCListed 103 days
Opportunity summary
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About
A high quality affordable individual one bedroom apartment situated in a block of only 4 properties on the outskirts of Wadebridge. Council Tax Band A. Leasehold. EPC rating C.
Apartment 2 Trevansyn Heights is a spacious one bedroom ground floor apartment.
The property has the benefit of a Section 106 agreement which restricts its sale value to 70% of the current open market value.
This property is considered ideal for those seeking an affordable home within Wadebridge who fall within the appropriate criteria (see later).
Trevansyn Heights is a small purpose built block of only 4 apartments being cleverly designed with a low maintenance finish and low running costs.
The Accommodation comprises with all measurements being approximate:- Path to side leads to Double Glazed Entrance Door To Open Plan Kitchen/Dining/Living Room – 6.57 m x 4.47 m overall measurement The kitchen area having a single drainer stainless steel sink unit with mixer tap, electric oven, hob, space and plumbing for washing machine, built in cupboards, Ariston gas fired central heating/hot water boiler, good range of modern fitted units and fitted worktops.
Opening to the Dining/Living Room With French doors opening onto the rear courtyard/patio area. Inner Hallway With large built in storage cupboard acting as airing cupboard with radiator.
Shower Room Corner enclosed shower cubicle with thermostatic shower. Low level w.c. Wash hand basin. Heated towel rail. Bedroom – 3.32 m x 3.05 m Double glazed window to rear. Radiator.
Outside Communal paths lead around the property to a private brick paved patio at the rear of the apartment which is ideal to have a little outside seating etc.
We also understand there is a lockable storage cupboard for the use of the residents.
Leasehold Details The property was constructed circa 2014 and there is approximately 993 years of the lease remaining.
The management company is Trevansyn Heights Management Company and the current annual service charge is circa £600 pa which is the yearly maintenance figure to include buildings insurance.
Services Mains water, drainage, electricity and gas are connected to the property. Parking There is no designated parking with this apartment so parking is on the road outside.
Agents Note As mentioned the property is subject to a Section 106 agreement designed specifically for people unable to purchase on the open market.
Eligibility We would be looking to prioritise someone with an Area Local Connection to St Breock.
Please note that local connection exemptions apply to applicants who are subject to the Armed Forces Covenant, Care Leavers under the age of 25 and/or Victims of Domestic Abuse: Current residency/permanent employment of 16 + hours per week for 3 + years OR Former residency of 5 + years OR Close family member (Mother/Father/Sister/Brother/Son/Daughter) where that family member has lived in the parish for 5 + years After 14 days of marketing we can consider those who have a local connection to the adjoining parishes of Wadebridge, Egloshayle, St Minver Lowlands, St Minver Highlands, St Issey, St Wenn, Withial and Lanivet.
After 28 days of marketing we can consider those with a Local Connection to Cornwall (i.e. all other parishes/towns outside of the primary and secondary areas) – please ask us for details.
In addition the applicant will need to: Be in Housing Need – i.e.
living with family/renting and otherwise unable to afford a home on the open market Have a maximum household income of £80,000 Have a minimum 10% deposit (or 5% with relevant AIP) Have a recent AIP from a s.106 lender (Nationwide/Halifax/Leeds/Santander/TSB/Skipton being the main ones we are aware of) Have viewed and offered on the property What3words: ///boards.airfield.short Please contact our Wadebridge Office for further details
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 2, Trevansyn Heights,Trevanson,Wadebridge,PL27 7HP
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