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See how verdicts work2 × 2-bed maisonette · PL23 1HY
For saleReduced £50k (−9.5%) on 26 OctListed 703 days
Opportunity summary
See Archie’s verdict, returns by strategy and what to check before viewing.
About
NO ONWARD CHAIN. AN OPPORTUNITY TO PURCHASE A FREEHOLD, MIXED USE BUILDING SITUATED ON THE PROMINENT ESPLANADE, CLOSE TO THE CENTRE OF TOWN.
COMPRISING A TWO BEDROOM MAISONETTE WITH SEPARATE ACCESS AND GROUND FLOOR RETAIL PREMISES. OFFERED WITH VACANT POSSESSION.
The Location - Fowey is regarded as one of the most attractive waterside communities in the county.
Particularly well known as a popular sailing centre, the town has two thriving sailing clubs, a famous annual Regatta and excellent facilities for the keen yachtsman.
For a small town Fowey provides a good range of shops and businesses catering for most day to day needs.
The immediate area is surrounded by many miles of delightful coast and countryside much of which is in the ownership of the National Trust.
Award winning restaurants, small boutique hotels, excellent public houses etc, have helped to establish Fowey as a popular, high quality, destination.
There are several excellent golf courses within easy reach, many world class gardens are to be found in the immediate area and the fascinating Eden Project with its futuristic biomes is just 5 miles to the north west.
There are good road links to the motorway system via the A38/A30. Railway links to London, Paddington, can be made locally at Par, and St.
Austell and there are flights to London and other destinations from Newquay.
The Property - Offered with no onward chain - an exciting opportunity to purchase a deceptively spacious, mixed use freehold property comprising a 2 bedroom maisonette renovated to a high level, with views from the second floor across the Estuary towards Pont Creek.
It has been a successful holiday let for the current owner.
The ground floor retail premises has potential for either a rental income or conversion to additional accommodation or garage space (subject to necessary permissions).
It is currently occupied but offered with full vacant possession.
Retail Unit - The property has a prominent window space on the Esplanade, which enjoys a high footfall throughout the year and comprises main retail space, office area/stockroom and WC.
The unit measures 8.7m x 3.7m approximately and is currently run by the owner as a convenience store/off licence.
The Apartment - With a separate entrance from the retail space, a door opens to stairs leading to the first floor landing and stairs rise to the second floor.
An oak fire door opens to the kitchen/dining room with two windows to the front elevation.
The well appointed kitchen has a range of base and wall units with granite worksurface over, and a number of integrated appliances including Neff electric double oven and grill, Neff built in ceramic hob and extractor over, Hotpoint fridge/freezer and dishwasher.
Vailliant wall mounted combi boiler for central heating and on demand hot water. There is plenty of space for a four seater table and chairs.
An oak door opens to the sitting room with large double glazed window to the front elevation looking out to the Esplanade.
A lovely light and airy room with feature granite fireplace and timber mantle and space for two large sofas.
The second floor landing has telephone and broadband point and a large double glazed window to the rear has obscured glass, offering privacy whilst letting in lots of light.
A loft hatch provides access to the insulated attic space with pull down ladder.
The principal bedroom is a large room with two double glazed windows to the front elevation offering views across part of the Estuary towards Pont.
There is ample space for a super king bed and freestanding furniture.
Bedroom two is also a generous sized double room with double glazed window to the front elevation offering some views to the Estuary.
There is ample space for twin beds or double bed and freestanding furniture.
The family sized shower room has obscured glass window to the front elevation, and comprises a modern white suite with WC, vanity wash basin with mixer tap and storage under.
Large double shower with tiled wall and mains pressure shower with waterfall shower head. Extractor fan and wall mounted heated towel rail.
Epc Rating - C / Commercial Epc Rating - C - Both properties are business rated and currently eligible for small business rate relief.
Viewing - Strictly by appointment with the Sole Agents: May Whetter & Grose, Estuary House, Fore Street, Fowey, Cornwall, PL23 1AH.
Tel: Email: Services - Mains electric, mains gas, mains water supply and drainage, telephone and broadband.
Value & comps
No previous sales on record.
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 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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