The Terrace, Penryn, TR10

THE LOCATION

The property is situated in the heart of Penryn town centre, elevated above Lower Market Street and ideally positioned within walking distance of the town’s wide range of amenities, shops, cafés, supermarkets, schools, transport links and university campus. One of Cornwall’s oldest and most historic market towns, Penryn combines period charm and a strong sense of community with an increasingly vibrant atmosphere influenced by the nearby Falmouth and Exeter University campus. Penryn enjoys excellent connectivity, with its own train station providing regular services to Falmouth, Truro and onward mainline connections to London Paddington, alongside frequent bus routes and easy road access throughout Cornwall. The town also benefits from well-regarded primary and secondary schooling, Penryn Business Park, sports clubs and a variety of community facilities. Positioned alongside the picturesque Penryn River and surrounded by beautiful countryside, the town offers an appealing balance of convenience and lifestyle. Nearby Falmouth, approximately two miles away, provides an extensive range of independent shops, restaurants, beaches, sailing waters and leisure facilities, whilst Truro, Cornwall’s commercial centre, offers further shopping, private schooling, healthcare facilities and direct rail links to London. With its blend of historic character, strong rental demand, university influence and excellent transport connections, Penryn continues to be one of Cornwall’s most sought-after locations for both homeowners and investors alike.

THE PROPERTY

Stepping into this substantial Grade II Listed townhouse, positioned in the heart of Penryn, you are immediately welcomed by a spacious entrance hallway, setting the tone for the generous accommodation found throughout the property. From here, doors lead to the first double bedroom and the main living space, whilst stairs rise to the upper floors. The hallway also houses the Smart Cell fire alarm system and useful storage for the electric meter. The ground floor bedroom is a well-proportioned double room with sash window, fitted shelving and built-in storage, making it equally suited as a spacious bedroom or additional reception room, depending on the future owner’s requirements. Continuing through the property, the living room offers an impressive L-shaped layout with ample room for both lounge and dining furniture. Filled with natural light and enjoying direct access out to the rear garden, this space creates an ideal communal area for student tenants or family living alike. The kitchen has been fitted with modern high gloss units above and below wood-effect work surfaces, creating a stylish yet practical environment. Integrated appliances include a Lamona oven with induction hob and extractor, whilst there is additional space for white goods and further pantry-style storage. A rear aspect window overlooks the garden, adding to the bright and airy feel.

Rising to the first floor, the landing provides access to three further double bedrooms and the family bathroom, alongside a cupboard housing the Baxi gas combination boiler which powers the gas central heating system. Bedroom two is another generous double room and benefits from its own en-suite shower room comprising WC, pedestal wash basin and shower cubicle. Bedrooms three and four continue the theme of spacious accommodation, with bedroom four particularly enjoying character features including a fireplace and sash window which complement the period nature of the home. The family bathroom is fitted with a three-piece suite comprising bath with electric shower over, pedestal wash basin and WC, all finished with practical vinyl flooring and natural light from the sash window. The second floor reveals perhaps one of the most impressive rooms within the property bedroom five. This expansive L-shaped double aspect room enjoys excellent natural light from two windows and offers extensive space for bedroom furniture, study areas or additional seating, making it highly desirable for student occupation.

Externally, the property continues to impress with a particularly large rear garden (totalling 100ft in length / 30m), a rare feature for such a central Penryn location. Mostly laid to lawn and bordered by mature shrubs, trees, stone walling and high fencing, the garden provides a private outdoor space ideal for relaxing or entertaining. A pathway runs through the centre of the garden leading to a useful rear access gate. Currently operating as a highly successful student investment, the property is let to five students with the next academic year for 2026–2027 already secured. To be sold with no onward chain, please get in contact for further information and to arrange a viewing with Heather & Lay.

AGENTS NOTE

We understand there is a pedestrian right of way across the neighbouring property's rear garden, to access the rear of the property.

INVESTORS INFORMATION

A strong and well-established student investment property, currently let to five students with the next academic year (2026–2027) already secured. The property has been successfully and consistently tenanted by the current landlords since 2002, demonstrating long-term demand and reliable occupancy. The current tenants remain in situ until June 2026, with a new tenancy agreement commencing from July 2026 at £650 per room, per calendar month across all five letting rooms. This produces a gross annual rental income of £39,000, representing an attractive 11.14% gross yield, making the property an excellent opportunity for investors seeking immediate income and proven rental performance.

Rear Garden

The impressive rear garden is a standout feature, extending to approximately 100ft (30m) and providing a substantial outdoor retreat within this sought-after central Penryn location. Mainly laid to lawn, the garden enjoys a high degree of privacy thanks to its mature borders, established trees, attractive stone walling and fencing. A pathway runs the length of the garden, leading to a rear access gate and enhancing the practicality of this exceptional outdoor space.