4-bedroom house · TR11 3PU
Opportunity summary
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About
**INVESTMENT PROPERTY OR FAMILY HOME** In the heart of Falmouth, a traditional Victorian terraced house which has previously been let to students but is now in need of refurbishment and could be renovated to make a spacious family home.
The property has previously been let as a 5 bedroom Licenced HMO to students and with some refurbishment, the property has the potential to achieve an excellent yield.
Alternatively, as a family home, the property could be reconfigured to suit the incoming purchaser's requirements in a more traditional manner.
BRIEF DESCRIPTION The property fronts onto Killigrew Street, in the heart of Falmouth.
On entering you initially come into a traditional porch with a part-glazed inner door leading into the inner hall.
There are two spacious reception rooms on the ground floor which previously interconnected and would originally have been a dining room and lounge.
These rooms could be opened up once again to provide comfortable open-plan living space.
To the rear of the ground floor there is a fitted kitchen and breakfast room, with a small utility area housing the gas boiler to the rear.
A traditional staircase leads up to the first floor where there this is a split landing.
To the rear of the property, above the kitchen, there is a shower room with WC, a second separate WC and a double bedroom. Additionally, the hallway has lots of built-in storage.
Heading towards the front part of the property there are two sizeable double bedrooms and a single bedroom. (Please note the single bedroom is not considered large enough to be let for HMO purposes).
Externally there is a courtyard adjacent to the kitchen with an outdoor WC and a storage area. Steps go up to a lawned back garden where an alleyway takes you through to New Windsor Terrace.
KEY FEATURES Freehold Council Tax Band C EPC D Gas Central Heating & Hot Water Raised Lawned Garden UPVC Double Glazing No Onward Chain The property currently has an HMO Licence for 5 bedrooms.
If the incoming purchaser wishes to let the property as an HMO then they will need to apply to Cornwall Council for a new Licence in their name.
Broadband : Ultrafast Broadband available at this postcode.
Mobile Phone Coverage: O2 / EE / Three / Vodafone - Please contact individual providers for further information Source: Ofcom.org.uk Parking - there is on-street parking available on Killigrew Street and behind the property on New Windsor Terrace.
Residents' Parking Permits are not required.
LOCATION Killigrew Street runs parallel to Kimberley Park Road, in the heart of Falmouth and is ideally situated for the Woodlane Campus of Falmouth University which is under half a mile away.
Just 0.2 miles to The Moor, shops, cafes and bars are all easily accessible, whilst Gyllyngvase Beach is also less than a mile away.
Falmouth is exceptionally located on the south coast of Cornwall and has an abundance of local amenities as well as being well connected by roads and train services to the rest of Cornwall and beyond.
Swathed in maritime history, Falmouth is now a vibrant hub for sporting and cultural pursuits.
The south Cornish coast offers fabulous sea swimming, paddle boarding and hiking trails just a stone's throw away.
There are numerous yacht and sailing clubs nearby with some of the finest day sailing waters in the UK and Falmouth Golf Club is located at Swanpool.
Being home to the world-famous Falmouth School of Art, Falmouth is a hub for the Arts in Cornwall, with the Princess Pavilion and The Poly offering a rich programme of events throughout the year
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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