A building plot in Illogan went under the hammer in the TV programme Homes Under the Hammer in March 2010, with the update being aired today, 24 May 2011. The plot of land, with planning permission for a 4 bed detached house, is in the village of Illogan, near to Portreath and Redruth.
If you’re wondering how that went, read on:
The building plot in Illogan had a guide price of £60-70k, with the average price of houses £170k in the village. The plot of land had good rear views and a dropped kerb, it was at the end of a terrace in Bridge Road, Illogan.
The planning permission was to build a 4 bed detached house, but presenter Martin Roberts, as well as the visiting agent, felt that the house would be hard to sell as the bedrooms were too small, so it’d be better being reconfigured to a 3-bed house.
Planning consent was issued by Cornwall Council on 25 August 2009 under Application No. PA09/00836/F for ‘Erection of Dwelling’.
Scott Gray, an agent from the auctioneers West Country Property Auctions, visited the plot in April 2010 and said that 3 bedrooms would be more appealing to the market place, but the house was spacious. He estimated that rental as a 3-4 bed would bring in £750/month – and if it were sold then a 4-bed detached in Illogan would fetch £180-195k, depending on specification.
Auction Date: 3 March 2010
Auctioneers: Countrywide, Westcountry Auctions
Sold Price: £68,500
The buyer was Christine, who had moved from the Midlands in 2004. She renovated a cottage that she now runs as a B&B. This will be her first new build and she wants to build it to sell. She planned to use a firm of builders to do the work for her and to make it a 3-bed house.
Budget: £80-85k for the build.
Time: 10 months
Martin Revisited Christine in Illogan 11.5 months later. The house has been built, it’s timber framed, with stone rendering. The ground floor has a mixture of laminate flooring and tiled flooring; the kitchen has middle of the range equipment. Patio doors lead to decking and there’s a separate utility and loo in the hall.
The building work hadn’t started for four months, during which time Christine had decided to project manage the house build herself. Building regulations took longer to come through than she anticipated.
Overall, Christine spent: £75,000 with fees and everything. Total spend £143,500
She said “Plans are to sell it, don’t want to rent it out, it’s too nice.”
Two visiting agents then both suggested marketing it in the region of £185k.
16a Bridge Road, TR16 4SA