Station Road, Truro LICENCED HMO

A characterful terraced townhouse close to Truro train station configured as a licensed* HMO with 6 letting rooms and currently achieving a gross annual income of £47,580 giving a 12.2% gross yield. Excellent city location for renting to a range of tenants including hospital and council employees.

Why You'll Like It - This characterful city townhouse has been converted into and run as a successful HMO (House in Multiple Occupation) by the current owners for many years. The current gross rent (as at October 2026) is £3965PCM = £47580PA (subject to occupancy). At the asking price of £390,000 this would give a theoretical gross return of just over 12.2%PA on the initial investment (assuming 100% occupancy).
The property has 6 furnished rooms (3 share a communal kitchen), with different monthly rental figures relating to the individual facilities. To the front is an attractive garden and to the rear there is an outside space accessed by a track. This area may have further potential to add storage or a bike store etc.

Additional Hmo Information* - Prospective purchasers must make their own enquiries about the feasibility of taking over this HMO (House in Multiple Occupation). An HMO licence is generally not transferable to a new owner. If you buy a property that already has an HMO licence, the new owner will normally need to make their own application to the local council.

The existing licence is personal to the licence holder, so you cannot simply take it over on completion.
The incoming owner should contact the local council to establish the application process and requirements.
Don't assume the property can continue operating under the seller's licence after completion. The new owner should agree a plan with the council to avoid operating without the required licence.
The council may need to check the proposed licence holder, management arrangements, property standards and permitted occupancy.
An HMO licence is separate from planning permission, so you should check whether the property's use is lawful under the relevant planning rules.
Section 68(6) of the Housing Act 2004 states that an HMO licence cannot be transferred to another person.
We recommend contacting Cornwall Council's private sector housing or HMO licensing team before completion to confirm their application process and how they will handle the change of ownership.

Current yield 12.2% Gross Calculated as current rents
Rm1 £690PCM
Rm 2 £630PCM
Rm 3 £630PCM
Rm4 £630PCM
Rm5 £660PCM
Rm6 £725PCM
Total Monthly income £3965PCM x 12
=Annual income of £47,580
£47,580/ £390,000 (Asking Price)= 0.122 x 100 = 12.2% PA
This illustration assumes 100% occupancy (i.e. with no void periods. A 'real world' business plan should take into account void letting months and change over of tenants).

Where It Is - Station Road as the name suggests is a short walk from Truro mainline railway station with its direct rail link to London Paddington. There is also the handy Falmouth branch line, both very useful transport routes. There is a regular bus service from the road outside the station and the city centre is a short walk or drive away. There is a choice of supermarkets close by and the wealth of attractions of Truro are all close at hand including the Hall For Cornwall, The Royal Cornwall Museum and a host of restaurants and bars. Cornwall Council and The Royal Cornwall Hospital are not too far away and within walking distance. A great central location for living and working in the city.

Services And Tenure - The property is freehold and has mains water, mains drainage, mains gas and mains electricity.

Council tax band B

Important/Buyers Information - Clive Pearce Property, their clients and any joint agents give notice that:
1. They are not authorised to make or give any representations or warranties in relation to the property either here or elsewhere, either on their own behalf or on behalf of their client or otherwise. They assume no responsibility for any statement that may be made in these particulars. These particulars do not form part of any offer or contract and must not be relied upon as statements of fact.

2 It should not be assumed that the property has all necessary planning, building regulation or other consents and Clive Pearce Property have not tested any services, equipment or facilities. Purchasers must satisfy themselves by inspection or otherwise.
3. Photos and Videos: The photographs and/or videos show only certain parts of the property as they appeared at the time they were taken. Some photos maybe enhanced for marketing purposes. Areas, measurements and distances given are approximate only. Any computer generated image gives only an indication as to how the property may look and this may change at any time.
Any reference to alterations to, or use of, any part of the property does not mean that any necessary planning, building regulations or other consent has been obtained. A buyer must find out by inspection or in other ways that these matters have been properly dealt with and that all information is correct.
Information on the website about a property is liable to be changed at any time.
BUYERS PLEASE NOTE - IN ORDER TO COMPLY WITH CUSTOMER DUE DILIGENCE PROCEDURES /ANTI MONEY LAUNDERING LEGISLATION, ALL BUYERS WILL BE REQUIRED TO UNDERGO ID CHECKS AND SOURCE OF FUNDS CHECKS. THESE ARE CONDUCTED VIA A THIRD PARTY COMPANY FOR WHICH THERE IS A SMALL CHARGE WHICH WILL NOT EXCEED £50 PER PERSON.

Current Rents -