Description
  • Falmouth period town house
  • Presented well and cared for
  • Full HMO licence for five occupants
  • Location close to Falmouth town and campus
  • Five double bedrooms, three shower/bath rooms
  • Low maintenance rear courtyard
  • Sold as going concern, fully furnished
  • Income of £24,000 per annum - 7.5% gross yield

Full description

Tenure: Freehold

THE LOCATION Killigrew Street is a popular location for many varying types of buyer, a fine row of Victorian town houses which provide spacious family living and, in more recent times, a popular place to live as a student whilst attending the University. This is probably because of it's convenience to town, local amenities, excellent transport links including a bus stop for the Tremough Campus and walking distance to the Falmouth University on Woodlane. It is little wonder then that the owner has never found a problem in locating students for upcoming tenancies.  

THE PROPERTY This mid-terraced town house is an up and running successful student let with an HMO licence for five occupants. Fully furnished with a current tenancy and an upcoming one for the next academic year being advertised. Fully certified electrics, oil central heating and fire safe - this offers the perfect opportunity to pick up where our client has left off and provides income from day one. The owners, in our opinion, let slightly below the current market room rate - generating £2,000 per month (which is signed up until summer 2019 giving a 7.5% gross yield). Current projections suggest that this figure should be in the region of £2,125 and therefore giving any landlord an 8% gross yield on the guide price. Five letting room accommodation spanning three floors with three shower/bath rooms, large living room and separate kitchen/diner with extra small reception room off. To the rear and accessed from the kitchen is a decent sized low maintenance courtyard garden facing South/East. Available to view immediately and a worthwhile addition to any investment portfolio. 

ACCOMMODATION IN DETAIL (ALL MEASUREMENTS ARE APPROXIMATE)  

Through part glazed UPVC front door into the... 

ENTRANCE VESTIBULE Door matt flooring, lighting, electric fuse board. Through further part glazed door into... 

HALLWAY Providing access to living room, bedroom one, WC, shower room and kitchen. Carpet, radiator, lighting. 

LIVING ROOM 14' 7" x 12' 1" (4.45m x 3.70m) Large living room with window to front aspect. Carpet, radiator, lighting. 

BEDROOM ONE 12' 0" x 11' 8" (3.68m x 3.57m) Double bedroom with window to front aspect. Carpet, radiator, lighting. 

WC Ground floor toilet with window to side aspect. Vinyl flooring, tiled walls, lighting, extractor, basin, low level flush WC. 

SHOWER ROOM Separate shower room; vinyl flooring. Tiled walls, lighting, extractor, shower cubicle with glazed door. 

KITCHEN/DINER 14' 9" x 10' 5" (4.52m x 3.18m) Door at end of hallway into kitchen with space for dining, window and glazed door to side aspect. Tiled flooring, lighting, radiator. Kitchen comprising base and eye level fitted units, worktop, tiled splash-back, basin and drainer, oven with four ring hob, extractor above, under counter washing machine.  

'EXTRA' LIVING SPACE 9' 7" x 5' 7" (2.94m x 1.72m) Up four steps from kitchen to an extra room at end of property with window to rear and side aspect. Carpet, radiator, lighting. Providing extra seating or utility space. 

Stairs rise from entrance hall to first floor turning to....  

LANDING With split level stairs. This provides access to all remaining bedrooms, shower room, bath room and WC. Storage cupboard under staircase.

 

BEDROOM TWO 11' 10" x 11' 6" (3.63m x 3.53m) Double bedroom with window to side aspect plus two velux in roof. Carpet, radiator, lighting. 

SHOWER ROOM Window to side aspect, vinyl flooring, radiator, tiled walls, lighting, extractor. Three piece suite; low level flush WC, basin, shower cubicle. 

WC Separate toilet with vinyl flooring, tiled walls, lighting, extractor and low level flush WC.  

BEDROOM THREE 12' 0" x 11' 7" (3.66m x 3.55m) Double bedroom with window to rear aspect. Carpet, radiator, lighting. 

BEDROOM FOUR 12' 1" x 11' 3" (3.70m x 3.45m) Double bedroom with window to front aspect, carpet, radiator, lighting. 

BATHROOM A third bath/shower room with window to front aspect, vinyl flooring, tiled walls, radiator, lighting, extractor. Pedestal wash basin and bath with mixer tap. 

BEDROOM FIVE 17' 7" x 17' 0" (5.38m x 5.19m) Doorway from landing immediately up staircase to fifth letting room. A double bedroom within the previous attic space measured into the eaves. Three velux windows in pitched roof to rear aspect, carpet, radiator, lighting. 

OUTSIDE Accessed via UPVC door from kitchen to rear courtyard. A paved and gravelled low maintenance area with plenty of space for seating facing South/East. Outside storage, oil tank, lighting. 



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