2-bedroom flat · PL13 1AZ
Sold STCListed 261 daysAuction 2 Apr · ended
Opportunity summary
See Archie’s verdict, returns by strategy and what to check before viewing.
About
For Sale By Auction on 2nd April at 12:00 unless sold prior or withdrawn. To inspect the legal documents for this property please see the more information section below or visit our website.
A two bedroom second floor flat with balcony, refurbished in 2024 and situated in proximity of Looe beach, the Quayside and the town centre.
Accessed via an external staircase, the property offers a lounge/diner with balcony off, kitchen, two bedrooms and shower room.
The property is currently let on a 12 month month tenancy agreement and generating an income of £750pcm/£9,000pae.
Situated The popular seaside town of Looe offers a sandy beach, working harbour and a range of bespoke shops, cafes and restaurants, along with educational and recreational facilities catering for all age groups and a branch line to Liskeard.
Accommodation Second Floor Flat 3 - Balcony giving access to the lounge/diner, kitchen, inner hallway, two bedrooms and shower room.
EPC Rating D Council Tax Band A GET READY TO BID BY VISITING THE AUCTIONEERS WEBSITE GUIDE PRICES & RESERVE PRICES Guide Price An indication of the seller’s current minimum acceptable price at auction.
The guide price or range of guide prices is given to assist consumers in deciding whether or not to pursue a purchase.
It is usual, but not always the case, that a provisional reserve range is agreed between the seller and the auctioneer at the start of marketing.
As the reserve is not fixed at this stage and can be adjusted by the seller at any time up to the day of the auction in the light of interest shown during the m Reserve Price The seller’s minimum acceptable price at auction and the figure below which the auctioneer cannot sell.
The reserve price is not disclosed and remains confidential between the seller and the auctioneer.
Both the guide price and the reserve price can be subject to change up to and including the day of the auction.
Value & comps
No previous sales on record.
See the independent valuation, upside vs guide, and per-strategy max bid for this lot. Sign in to see it.
Returns
Set an offer; the calculator follows it.
We're still gathering serviced-accommodation data for this area.
Archie refurb estimate: a Pro feature
0.0% below starting price
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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
Agent & docs
FAQ
About Flat 3 Polkirt, Castle Street, Looe, Cornwall, PL13 1AZ
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