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See how verdicts work2-bedroom house · TR5 0ND
Listing removedListed 47 days
Opportunity summary
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About
Guide price - £395,000 - £425,000 - Converted detached Chapel which is the subject of a comprehensive & well advanced renovation programme.
Porch, hall, 2 bedrooms, open plan vaulted kitchen/living & dining room. Utility outbuilding. Off road parking. Views to the sea.
EPC Rating: E Situation The Old Chapel being situated in an Area of Outstanding Natural Beauty and World Heritage Site at the popular small hamlet of Higher Bal about 1⁄2 mile to the north-west of St Agnes, is therefore ideally positioned to access the town as well as numerous coastal walks of the area, walks on the Beacon and the surfing beaches of Trevaunance Cove and Chapel Porth.
There is a junction to the new A30(T) dual carriageway at Chiverton Cross about 4 miles to the south and the cathedral city of Truro, being the commercial and retail centre of Cornwall, is about 9 miles to the south.
At Truro there is a station on the London Paddington line.
The Old Chapel Purchased by the current owner in 2018 as a two-bedroom converted chapel in need of updating and repair, the current owner has embarked upon a good quality total renovation project to the exterior and interior of The Old Chapel, as well as improvements to a useful outside Utility Outbuilding.
Today the renovation works of a high standard are incomplete, but well advanced.
The sale therefore presents an opportunity for a purchaser to take on and apply their own tastes and styles in completing the project.
As the attached floor plan shows, the proposed accommodation is reverse level – as was the previous conversion – with, on the ground floor, an Entrance Porch, Entrance Hall with turning stairs off to the first floor, two Bedrooms and a Bathroom.
The first floor presents an open-plan Kitchen, Dining and Living Room, with a quadruple aspect fully enjoying the views of the area and the sea.
Highlights of work which has been carried out to the current stage include:- Reinforced concrete ring beam to secure all four walls and create a stable base for new roof timbers, slates and Velux windows Installation of 3 kW roof solar panels New Heritage look windows Ground floor level screed and damp-proofed Repairs to both gable ends Internal walls rendered with marine grade tanking render from Cornish Lime and finished with ka tanking slurry All exterior cement render removed to exposed stone and walls repointed with breathable Cornish Lime products All new internal stud framing, floor joist and flooring installed Presentation of the building structure for the utility outbuilding Outside are parking and gardens areas, as well as a useful Utility Building Viewing Strictly and only by prior appointment with Stags’ Truro office on .
Services Mains water, electricity and drainage connected. Double-glazed. Heating - to be decided. Photovoltaic panels attached to the roof - currently unconnected.
Broadband: Standard and Superfast available (Ofcom). Mobile telephone: 02, EE, Three and Vodaphone limited inside and 02, Three, EE and Vodaphone good outside (Ofcom).
Directions From the centre of St Agnes, by the St Agnes Hotel, take Trevaunance Road towards Higher Bal.
Ignore the turning to the right towards The Beach and about a further 100 yards bear to the left towards Wheal Coates and The Beacon.
Drive through the relaxed speed limit sign and continue up the hill towards the chimney stack.
At the crossroads turn right (unsignposted) and The Old Chapel will be seen on the left-hand side after a short distance.
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 The Old Chapel, Higher Bal, St Agnes
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