Penryn

EXCELLENT INVESTMENT LET TO STUDENTS GENERATING A 10.5% GROSS RETURN! THIS IS PRICED TO SELL QUICKLY.

An opportunity to acquire a charming Grade II Listed freehold building comprising 3 x 3 bedroom apartments and located in central Penryn. The apartments are currently let and generating £57,600 per annum. An excellent ‘turnkey’ investment with further scope to drive income at the next occupancy period.

The Location - Penryn is an historic port on the south coast of Cornwall, chartered in 1236. During the 19th Century, the town was known for the export of granite, used in such buildings as the Bank of England and many of the country’s lighthouses. The town is home to Penryn Campus, a large university campus occupied by two institutions – Falmouth University and the University of Exeter. Over recent years, the area has thrived due to a significant increase in student population, in turn, having a positive impact on local businesses. The scenic Helford River is a short drive away, with areas such as Falmouth, Truro and Helston within close proximity, making this attractive town a perfect place for those seeking a quieter lifestyle, while being conveniently close to the liveliness of larger towns.

Micro Location - The property is well positioned along Broad Street in central Penryn. Penryn train station is located approximately 0.7 miles away, which provides regular train services to Falmouth and Truro. There are direct and regular trains to and from London Paddington via Truro Station (journey time circa 4.5 hours). In addition, there are regular bus services running from Penryn town centre, servicing the local areas and wider Cornwall.

The Property - The apartments are all individually metered and serviced by modern gas boilers (apart from Apartment 2, which is fully electric). Accessed from the front door via the side elevation is a central hallway, which provides access to the apartments. Externally, there is a very pleasant, particularly private, and deceptively deep rear garden.

The Accommodation Comprises - (All dimensions being approximate)

Communal Hall - Cupboard housing electric meters. Under-stair storage. Stairs rising to apartments wot and three.

Apartment One - £1,500 Pcm - 44.0m (144'4") - A ground floor apartment briefly comprising: hallway (housing combination boiler), kitchen, three bedrooms and a shower room.

Bedroom One - 4.47m x 2.34m (14'7" x 7'8") -

Bedroom Two - 2.87m x 2.13m (9'4" x 6'11") -

Bedroom Three - 2.92m x 2.87m (9'6" x 9'4") -

Apartment Two - £1,600 Pcm - 55.0m (180'5") - A first floor apartment briefly comprising: hallway, kitchen/diner, three bedrooms, and a shower room.

Bedroom One - 4.57m x 2.13m (14'11" x 6'11") -

Bedroom Two - 3.51m x 3.10m (11'6" x 10'2") -

Bedroom Three - 3.51m x 3.10m (11'6" x 10'2") -

Apartment Three - £1,650 Pcm - 60.0m (196'10") - A second floor apartment briefly comprising: hallway (housing combination boiler), kitchen, three bedrooms and bathroom.

Bedroom One - 3.66m x 3.05m (12'0" x 10'0") -

Bedroom Two - 4.72m x 3.3m (max) (15'5" x 10'9" (max)) -

Bedroom Three - 3m x 2.84m (9'10" x 9'3") -

General Information -

Services - We understand the property is served by mains water, electricity, drainage and gas. Two apartments have individual gas meters, with the other being fully electric. The apartments are individually metered.

Council Tax - All apartments are Band A - Cornwall Council.

Vat - The property has not been elected for VAT.

Tenancies - All apartments are let on assured shorthold tenancies to students from September 2024. The total gross income is £57,600.

Viewing - By telephone appointment with the vendor's Sole Agent - Laskowski & Company, 28 High Street, Falmouth, TR11 2AD. Telephone: .

Directional Note - We would advise prospective purchasers who are viewing, to park along Broad Street. Number 36 is located on the left-hand side, heading into the centre of Penryn.