6-bedroom house · TR11 2AF
For saleListed 87 days
Opportunity summary
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About
This is an exciting opportunity to acquire a landmark freehold property in the heart of one of the County's most sought after trading locations.
The property has in recent years, undergone extensive remodelling and now comprises a stylish cafe bar/restaurant with a well equipped commercial kitchen, 3 stunning self contained apartments and 2 superb guests suites, with all of the apartments and suites having spectacular elevated views, across Falmouth Harbour.
Location Falmouth is situated on the South Cornish coast and has a population of approximately 25,000 residents.
The town and wider area attracts hundreds of thousands of visitors each year owing to its picturesque natural harbour, selection of beaches and stunning coastline, Falmouth regularly hosts national and international events including a variety of music and food festivals.
The town has a wide selection of national and independent businesses, schooling for all ages and a popular university with almost 8,000 students.
For further information about the area, please visit: General Overview The Star & Garter has been owned by our client for several years and was, for much of this time trading as a successful Gastro Pub with letting rooms.
In recent years, and to reflect the changing face of the hospitality trade, the business model was re-imagined and the ground floor of the building underwent alterations to create further letting accommodation, whilst still retaining a cosy and stylish Bar and Restaurant.
The business is now accommodation led with two stunning guest suites on the Ground Floor (foc'sle & cabin).
Above which, and accessed independently from the High Street are 3 superb self catering apartments, (penthouse, starboard & crow's nest) For further information on the letting accommodation, please visit: The Bar & Restaurant are currently being operated by a 3rd party by way of an informal arrangement and as such, we do not hold accounts for that element of the business.
Should a prospective new owner not wish to operate the bar restaurant then this area of the building could be let on a commercial basis to provide an additional passive income.
(Please speak to the selling agent for rental projections) Property Description (Please see attached Floor Plan & Virtual Tour, for more detail) Ground Floor: Fully equipped Bar/Restaurant, 2 x Guest Suites (Foc'sle & Cabin) Lower Ground Floor: Customer toilets, office/staff room, laundry room, cellar, walk in fridge, pot wash rea, dry stores and a superbly appointed commercial kitchen.
First Floor: (Starboard) comprising two double bedrooms, a bathroom, and a colourful open-plan kitchen and living area.
Second Floor: (Penthouse) comprising an open-plan living area and kitchen, and large bedroom with en suite.
Third Floor: (Crow's Nest) comprising an open plan kitchen/lounge, log burner, bathroom and bedroom.
Outside: There is a small enclosed courtyard to the rear of the building accessed from the lower ground floor with a pedestrian right of way onto the High Street via an adjoining passageway.
Accounts & Financial Information Please speak to the selling agent.
General Information Tenure: Freehold EPC: C Water: Mains Drainage: Mains Electricity: Mains Gas: Mains Legal Costs: Each party will be responsible for their own legal costs in connection with the transaction Stock: To be taken at valuation, upon completion Premises Licence: The premises are licenced for the sale of alcohol (a copy of the licence is available from the selling agent upon request) Business Rates: Please visit the Valuation Office website ().
Consumer Protection from Unfair Trading Regulations 2008.
The Agent has not tested any apparatus, equipment, fixtures and fittings or services and so cannot verify that they are in working order or fit for the purpose.
A Buyer is advised to obtain verification from their Solicitor or Surveyor. References to the Tenure of a Property are based on information supplied by the Seller. Measurements are a guide only.
The Agent has not had sight of the title documents. A Buyer is advised to obtain verification from their Solicitor.
Items shown in photographs are not included unless specifically mentioned within the sales particulars. They may however be available by separate negotiation.
Buyers must check the availability of any property and make an appointment to view before embarking on any journey to see a property.
Anti-money laundering regulations - Purchasers It is a legal requirement that we receive verified identification from all buyers before a sale can be instructed.
We ask for your cooperation on this matter to ensure there is no unnecessary delay in agreeing a sale. We will inform you of the process once your offer has been accepted.
Proof of finance - Purchasers Before agreeing a sale, we will require proof of your financial ability to purchase.
Again, we ask for your cooperation on this matter to avoid any unnecessary delays in agreeing a sale and we will inform you of what we require prior to agreeing a sale.
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.
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FAQ
About The Star & Garter, 52 High Street, Falmouth
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