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See how verdicts work3-bedroom house · TR20 8EQ
Listing removedReduced £90k (−47.4%) on 20 AugListed 220 days
Opportunity summary
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About
A rare opportunity to acquire this freehold property, currently arranged as two self-contained flats and offered to the market with vacant possession.
Originally converted from former village stores, the accommodation has been reconfigured to provide a one bedroom ground floor apartment and a spacious two bedroom apartment arranged over the upper two floors.
The ground floor apartment comprises an eat in kitchen, main reception room, bedroom and bathroom with shower and WC, benefiting from its own separate front door.
The upper apartment is accessed via a side entrance and rear yard with accommodation set over the first and second floors.
The first floor offers a kitchen and reception room, along with a double bedroom and family bathroom, whilst the vaulted attic level provides an impressive principal bedroom.
Externally the property benefits from a rear yard which provides access to the upper apartment.
The layout offers excellent flexibility and conversion back to a single dwelling should be relatively straightforward (subject to the relevant council permissions), as the two units are currently separated by only a stud wall.
The tranquil village of Ludgvan is positioned away from through traffic and remains one of the area’s most popular residential locations, benefiting from its own primary school.
The village is well served by a local shop and Post Office with a public house and takeaway facilities available in the neighbouring village of Crowlas.
Further amenities can be found just a mile and a half away at Long Rock, which offers both Sainsbury’s and Morrisons supermarkets.
The major town of Penzance lies approximately three miles away and provides a comprehensive range of shops, schools for all ages and leisure facilities, along with a mainline rail link to London Paddington.
Ludgvan is also within easy reach of some of the county’s most popular south coast beaches, including Praa Sands, Prussia Cove, Perranuthnoe and Marazion, home to the iconic St Michael’s Mount, as well as the Cornish Coastal Path.
Accommodation Comprises Part glazed entrance door opening to:- Flat One Flat One Entrance Hallway Access off to:- Flat One Kitchen/Diner (16' 0'' x 8' 7'' (4.87m x 2.61m) maximum measurements) Kitchen and dining space, in need of redecoration.
Flat One Kitchen/Sitting Room (15' 9'' x 8' 0'' (4.80m x 2.44m)) Front-facing window and electric radiator. Flat One Bathroom Shower unit, sink and WC.
Flat One Bedroom (8' 0'' x 7' 7'' (2.44m x 2.31m)) Rear-facing window and electric wall-mounted heater.
Flat Two Flat Two Entrance Hallway Rear access to a small hallway space with stairs leading to the:- Flat Two First Floor Landing Access to the family bathroom, kitchen and reception room.
Stairs leading up to the principal bedroom two. Flat Two Kitchen (7' 11'' x 7' 3'' (2.41m x 2.21m)) Window.
Flat Two Bedroom One (10' 11'' x 8' 7'' (3.32m x 2.61m) plus door recess) Rear-facing window and electric heater. Flat Two Bathroom Bath with over-bath shower, WC and sink.
Flat Two Principal Bedroom Two (13' 11'' x 12' 0'' (4.24m x 3.65m) plus window recess, reduced head height to two sides) Attic space with vaulted ceiling and window overlooking the front of the property with glimpses of the sea and St Michael's Mount.
Outside Front Public pavement. Outside Rear Yard with rear access to Flat 2 Services Mains water, mains drainage, mains electric. Agent's Note The Council Tax band for the property is band 'A'.
Directions From Crowlas crossroads take the turn off signposted Ludgvan, go through the village and up the hill to Churchtown, when you get to the church take your next left.
If using What3words:- tricks.swims.spires
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 Flats 1 & 2, The Stores, Lower Quarters, Penzance
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