Killigrew Street, Falmouth, TR11

THE PROPERTY

Engleton represents an exciting opportunity to acquire a beautiful, substantial Victorian-era stone-built townhouse in a highly convenient central Falmouth location. Retaining the character and charm associated with its period, the property has been in the same ownership since 2003 and has operated successfully as a student house of multiple occupation (HMO) for many years. Currently arranged as an established eight-bedroom HMO, the property offers an attractive investment opportunity, generating an established annual rental income with potential to enhance future returns. Previously operated as a guest house, the property was subsequently converted for HMO use, with the relevant HMO licence granted by the local authority remaining in place at present time.

Arranged over four floors, the accommodation provides a practical and well-established layout suited to shared student living. The entrance opens into a reception hall, providing access to the ground-floor bedrooms and shower room, together with stairs leading to the upper and lower-ground floors. The lower-ground floor forms the heart of the communal accommodation, with a fitted kitchen opening into a generously proportioned lounge and dining area. This sociable space provides tenants with ample room to cook, dine and relax, while doors lead directly to the enclosed rear courtyard. The upper floors accommodate the remaining bedrooms, comprising four en-suite rooms and four further bedrooms, served by two additional shower rooms. The combination of generous accommodation, multiple en-suite facilities and communal living space provides a configuration well suited to the student rental market.

Further features include uPVC double glazing and gas central heating. The property is not a listed building, a point that may be of interest to prospective purchasers considering future maintenance and improvement works, subject to the relevant planning and regulatory requirements. Combining period character, substantial accommodation and a long-established history of successful student letting, Engleton presents an appealing opportunity for investors seeking a sizeable residential investment in the popular university and coastal town of Falmouth.

THE LOCATION

Situated on Killigrew Street, Engleton enjoys a highly convenient position close to the heart of Falmouth. The town centre is within easy walking distance, offering a varied selection of independent shops, cafés, restaurants, pubs and everyday amenities. The town's vibrant atmosphere, thriving hospitality scene and year-round events contribute to its enduring appeal.

Falmouth University's Woodlane campus and other university facilities are accessible on foot, making the location particularly appealing for student accommodation. The nearby bus station provides connections to surrounding towns and villages, while local railway stations offer links towards Penryn and onward connections to Truro and beyond.

Falmouth's attractive seafront is another notable advantage, with sandy beaches, coastal walks and water-sports facilities all within easy reach. From waterfront dining to the town's lively cultural calendar, Falmouth offers a distinctive coastal lifestyle that continues to attract students and residents alike. Combining proximity to educational facilities, transport links, town-centre amenities and the coast, Engleton occupies a location well suited to the student HMO market.

AGENTS NOTE

The property is currently utilised as an eight-bedroom HMO, with a tenancy generating a 12.9% gross yield per annum inclusive of utilities. The rent-only element is 11.2% annual yield, with the balance representing the utilities contribution. This excludes operating costs, maintenance, management, void periods, insurance, finance and other landlord expenses. Prospective purchasers should satisfy themselves regarding the current tenancy arrangements, HMO licence, permitted occupancy, operating costs, rental figures and relevant planning or regulatory requirements. View appointments are strictly through Heather & Lay agents in Falmouth, please call the office to arrange. SERVICES Mains gas, electricity, water and drainage. Gas boiler fuelling the radiators and a hot water immersion tank. COUNCIL TAX: Band A, please contact Cornwall Council for further information and pricing. EPC: Rating E.

Garden

OUTSIDE To the rear, the property benefits from an enclosed, paved courtyard garden providing a private, low-maintenance outdoor space for tenants. Accessible from the lower-ground-floor communal accommodation, the courtyard offers a useful extension to the shared living space, ideal for relaxing outdoors during the warmer months. The garden enjoys a westerly aspect and also benefits from pedestrian access onto Brook Place.