5 bedroom detached for sale

£750,000 Guide Price

5

Bedrooms

With a prominent position in the heart of the quintessential Cornish fishing village of Cadgwith is the former village Post Office, a beautiful, character property which has been in the same family for generations. The main house has three double bedrooms and the adjoining annex has two double bedrooms. There is a pretty cottage garden and lawn to the front, a beach-hut style garden studio, a private parking area, and an enclosed rear lawn. The property is well maintained and has been recently decorated.

The main house, known as Coth Lytherva, is accessed by both the village footpath and via a gravel drive from the main road which also provides private parking immediately adjacent. A gently sloping cottage garden and lawn leads up to the front of the property with a patio and distinctive verandah attached to the entrance porch. Once inside you step into an open-plan lounge and kitchen with dining area. High ceilings on the ground floor provide a wonderful feeling of spaciousness with dual-aspect sash windows providing plenty of natural light and impressive sea views to the front. To the left of the kitchen is a small hallway with a rear entrance porch, a separate WC, plus a spacious bathroom with WC, pedestal sink, free standing bath and separate shower cubicle with electric shower. There is also a cupboard which houses the hot water tank. To the front of the property is the principle bedroom with, of course, sea views! Stairs lead from the reception room to the first floor where there are two further double bedrooms and a shower room. Casement windows to the front provide far reaching sea views from both bedrooms and pretty, arched feature windows on the side elevations provide lovely all-round village views. Immaculately presented, this much loved family home been well maintained and recently decorated.

Adjacent to the main house is the residential annex which formerly housed the post office. The quaint wood-clad front porch is accessed via slate steps from the village footpath but the property is also accessed via the driveway at the rear. The front porch leads into a lovely bright lounge with vaulted ceiling and large windows on two sides. Through the lounge is a spacious kitchen and dining room which also has a side entrance. Beyond the kitchen are two double bedrooms and a spacious shower room with walk-in electric shower. To the front of the property there is also a beach-hut style studio office. This annex is currently let on an AST until 13th March 2024 for 650 pcm but has previously been used as a successful holiday let.

Benefitting from a slightly raised position in the valley that is Cadgwith, the house has commanding sea views which skim the rooftops of the cottages and the Cove below. A pretty winding footpath leads from the property down to the shingle beach which is Cadgwith Cove, passing chocolate box thatched cottages and of course the village pub. The beach is still very much the centre of the village with a small fleet of working fishing boats usually winched up on the beach and a pile of crabbing pots nearby. Cadgwith is one of those quintessential villages for which time seems to have stood still and is a wonderful location from which to access the rest of the Lizard Peninsula.

The village has its origins in medieval times as a collection of fish cellars in a sheltered south-east facing coastal valley. Houses, lofts, capstan houses and cellars constructed of local stone or cob walls and thatched or slate roofs were built along the beach and up the sides of the valley leading to Cadgwiths characteristic appearance. The Cadgwith Cove Inn remains the social heart of the village with regular Cornish folk music and singing. There is also a caf, art gallery, church, shop and fresh fish shop (we highly recommend their lobster rolls!). The South West Coast Path provides some of the most picturesque footpaths to explore nearby and the Devils Frying Pan, a collapsed sea cave, is just a few minutes walk from the village. Cadgwith also provides a wonderful base to explore the coast by paddle board or boat with the beautiful beaches and villages of the Lizard Peninsula easily explored by car.

Heating - Air source heating
Driveway parking

Council Tax:
Annex: A
Coth Lytherva: E

EPC
Annex: E
Coth Lytherva: F



ANTI MONEY LAUNDERING REGULATIONS - PURCHASER
We are required by law to ask all purchasers for verified ID prior to agreeing a sale.

PROOF OF FUNDS PURCHASERS
Prior to agreeing a sale, we will require proof of financial ability to purchase which will include an agreement in principle for a mortgage and/or proof of cash funds.

Mortgage Calculator

Your property may be repossessed if you do not keep up repayments on your mortgage.

Monthly Payment: £ 8,216.87

Monthly Payment: £ 8,216.87

Monthly Payment: £ 8,216.87

Amortization For Monthly Payment: £8,216.87 over 30 years ( Based on 3.20% Interest )

Return on Investment

£
£
£
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Using your investment as a 25.00% deposit and £ 5,833 in costs for purchasing and getting ready to let.

Mortgage Required

£ 621450

Mortgage Loan to Value

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Gross Yield

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Annual ROI

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Annual Rental Profit

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Cumulative Rental Profit

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Cost of Purchase

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  • Stamp Duty
    £

    Stamp Duty is a tax paid on completion via your solicitor, the calculation includes the 3% surcharge for second homes.

  • Refurbishment Budget
    £ 18750
  • Survey Costs
    £ 400
  • Mortgage Fees
    £ 1,000

    Your home may be repossessed if you do not keep up repayments on your mortgage.

  • Legal Fees
    £ 1,300

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£

The refurbishment budget is set to 2.50% of the purchase price, but this will vary dependent on the suitability of the property for the rental market. Select a value that you feel is appropriate to the condition of the property.

£

This will vary between lenders, type of report and whether or not you are buying with a mortgage, for advice on which type of survey would be appropriate speak with an advisor from Preston Baker Financial Services.

£

Lenders will often charge a fees for the arrangement of a mortgage, for advice on what lenders may charge, speak with an advisor from Preston Baker Financial Services. Your home may be repossessed if you do not keep up repayments on your mortgage.

£

This is the sum of mortgage admin, land registry, search, bank transfer and any other fees incurred.

Purchase costs include assumed mortgage and survey costs which are estimated. For a quote contact a Preston Baker Financial Services mortgage advisor who can provide you with current and accurate information. The stamp duty calculation has applid the 3% stamp duty surcharge on the basis that this will be a second property.

Annual Costs

£ 58950
  • Mortgage Interest
    £

    The mortgage is assumed to be interest only. Your home may be repossessed if you do not keep up repayments on your mortgage.

  • Letting and Management Costs (Inc VAT)
    £
  • Letting Fee
    £
  • Maintenance
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  • Insurance
    £ 500
  • Ground Rent
    £ 0
  • Service Charge
    £ 0

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This is the percentage of the rent that you will spend maintaining the property.

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Ground Rent only applies to leasehold properties. This is an assumed ground rent, the confirmed figure can be found in the Property Information Questionnaire.

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Service charge only applies to leasehold properties. The correct figure can found in the Property Information Questionnaire answered by the seller.

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This is a standard, indicative figure only. Properties that have a service charge often have this included withing that charge. Please consult the Property Information Questionnaire for more information.

Total Profit

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  • Final Equity Profit
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    Final Equity Profit = Final Property Value - Mortgage Required - Investment

  • Cumulative Rental Profit
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    Cumulative Rental Profit = Annual rental profit x Time of Investment

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This is the assumed rate of house price inflation.

Final Property Value

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This is the property value at the end of the investment based on an assumed rate of % house price inflation.

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