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Killigrew Street, Falmouth

Under Offer £239,000

Property Description

Key features

  • Freehold investment
  • Existing let until 2026
  • Vacant apartment
  • Deep garden
  • Potential for 2 bedrooms
  • Popular position
  • Roof terrace
  • Recently updated

Full description

Occupying a prime position on one of the main thoroughfares leading to and from the town centre, yet set back from the roadside on a high broad pavement, a superb 3-storey freehold investment property comprising extensive ground floor shop premises, currently let until January 2026, together with an exceptionally well proportioned first floor residential apartment with independent access to the front and a deep garden with roof terrace to the rear.

The Property - With an attractive bow window to Killigrew Street, yet set back from this tree-lined roadside on a high broad pavement, this freehold property benefits from independent access to the residential first and second floors, above the commercial ground floor unit with offices and store rooms to the rear.

We understand the current yield of the ground floor shop premises stands at £6,500 per annum, with the predicted income for the apartment on an assured short hold tenancy agreement is estimated to be £7,800 (provided by Rainbow Property), although many prospective purchasers may wish to occupy the upper floors whilst receiving a regular income for the ground floor.

The deep garden, with huge potential, is accessed from the apartment, to the rear of the first floor and a large (particularly sunny) roof terrace leads from sliding patio doors from the bedroom above. Formerly the home and business of our clients, improvements to the property over the years include the installation of double glazing within the apartment, mains gas central heating, and a comprehensively appointed high gloss kitchen.

A recessed shared lobby entrance from Killigrew Street provides independent access to the apartment on the first floor, where there is a particularly attractive and versatile open-plan living room through to a modern and spacious kitchen with patio door to the garden. A second reception room to the front of the first floor could easily provide a second bedroom with a little alteration. From here the second flight of stairs leads to the top floor, where a bathroom and spacious bedroom are located. Broad sliding doors lead directly out onto a superb south-facing roof terrace above the kitchen, which overlooks the ascending garden beyond.

The ground floor comprises a large retail sales area with office space, if required, leading through to an entranceway to a rear store room/office, also of good proportions. A rear hall leads to the 'back' office and adjacent cloakroom/WC.

The current tenancy means this property is perfect for the investor looking for a sound long-term addition to their property portfolio, whether for immediate income return or later pension provision.

The Location - The property is located within a few minutes' walk of the centre of Falmouth, which offers a superb range of shops, restaurants, services and public transport facilities. Junior and secondary schooling is available within the town, together with a superb selection of leisure facilities including various water sports clubs, bowling alley, National Maritime Museum, arts centre and swimming pool - Ships & Castles. The town is renowned for its numerous sub-tropical gardens, lovely safe sandy beaches and picturesque seafront and coastal walks which take in some of the finest marine and coastal scenery in the county.

The Accommodation Comprises - (All dimensions being approximate)

Ground Floor -

Shared Entrance Lobby - A recessed, shared entrance area to one side of the shop frontage, with secure gated access from Killigrew Street. Separate internal access doors to both the shop and apartment.

Commercial Shop Premises - Currently let on a long lease until 9 January 2026, to a local and successful firm of printers.

Retail Sales Area - 4.25m x 7.22m (13'11" x 23'8") - Measurements exclude the broad bow window. Door from the shared entrance lobby, with small pane glazing either side. Entranceway and two steps to the store room/main office.

Store Room/Main Office - 3.15m x 3.07m (10'4" x 10'0") - Glazing to the rear office and entranceway from the main shop area.

Rear Hallway - Providing access to the rear office and cloakroom/WC. Over-head shelving. Door to the:-

Rear Office - 1.39m x 2.14m (4'6" x 7'0") - A useful additional office area, with large Velux window above an hardwood casement window to the rear elevation. Internal glazing to the:-

Cloakroom/Wc - 1.09m x 1.85m (3'6" x 6'0") - Measurements excludes door recess. A spacious ground floor cloakroom for use of the shop, with low flush WC, pedestal wash hand basin, water heater and shelving over.

The Apartment - With a private door leading from the shared entrance lobby, a part glazed timber panelled door opens into a private entrance lobby with stairs rising to the first floor, where a uPVC double glazed window adds natural light into the stairwell, with part galleried landing area.

First Floor -

Living Area - 4.75m x 3.49m (15'7" x 11'5") - Essentially open to the kitchen and galleried landing area, with traditional timber banisters. Double small pane casement doors to the second reception room. Fireplace with timber hearth, double radiator and broad entranceway to the:-

Kitchen - 3.02m x 3.71m - A bright and particularly spacious kitchen, open to the living area and featuring replacement uPVC double glazed windows to the side and rear elevations with a matching uPVC double glazed door giving access to the garden. The kitchen itself comprises a range of white gloss cupboards and drawers with black round-edged worksurfaces with tiled splashback areas behind. One and a half bowl stainless steel sink with mixer tap and drainer, space for electric oven/hob, space and plumbing for washing machine and dishwater, space for a tall fridge/freezer. Vinyl flooring.

Second Reception Room - 5.49m x 3.79m (18'0" x 12'5") - (Potential second bedroom). A particularly broad room with double small pane casement doors from the living room and turning stairs with timber banisters to the second floor, with two storage cupboards under. Two large uPVC double glazed windows to the front, two radiators. This room could be partitioned to provide a second bedroom, if required, involving reinstatement of the original hallway/landing.

Second Floor -

Landing - A useful recessed area, suitable for storage or possibly a small desk, with a high level uPVC double glazed window providing natural light into the stairwell. Entranceway to the:-

Bedroom - 2.98m x 3.90m (9'9" x 12'9") - An extremely bright and well proportioned bedroom, with large sliding double glazed patio doors onto the roof terrace. A walk-in cupboard provides further storage and also houses the Worcester gas fired boiler (approximately three years old).

Roof Terrace - 3.70m x 3.47m (12'1" x 11'4") - A large roof terrace, facing south and catching sun throughout the day, with broad sliding doors leading from the bedroom, overlooking the raised garden beyond.

Bathroom - 3.04m x 2.05m (9'11" x 6'8") - An irregularly-shaped room with a uPVC double glazed window to the front. Corner bath with curtain rail and tiled splashbacks, electric shower, pedestal wash hand basin, low flush WC. Radiator. Secondary door to the storage/boiler cupboard and an additional fitted cupboard housing the electricity meters and shelving.

The Exterior -

Rear Garden - A door from the kitchen within the apartment, to a small courtyard and steps to one side lead up to a particularly deep rear garden with potential to lawn or gravel or enclose further. Timber shed, small stone wall divides the garden which continues all the way, with a walled rear boundary bordering the former school, now art college.

General Information -

Services - Mains electricity, gas, water and drainage are connected to the property. Telephone points (subject to supplier's regulations).

Council Tax - Apartment - Band A - Cornwall Council.

Tenure - Freehold. The ground floor shop premises is subject to a twelve year lease, commencing January 2014 - producing a rental yield of £6,500 per annum, exclusive of rates. Three year rent reviews. A copy of this lease is available at our office.

Possession - The residential accommodation on the first and second floors, have the benefit of vacant possession. The ground floor commercial shop premises is subject to a twelve year lease - ending January 2026.

Epc Ratings - Apartment - D67.
Commercial premises - D89.

Viewing - Strictly by prior appointment with the vendors' Sole Agents - Laskowski & Company, 28 High Street, Falmouth, TR11 2AD. Telephone: 01326 318813.


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