This property is no longer on the market
12 bedroom house
Key information
Property description & features
- Charming Grade II Listed building
- Comprising 4 x 3 bedroom apartments
- Attractive 'turnkey' investment
- Rental income £66,000 per annum
- Comprehensively converted
- Located in a prime position just off Penryn's high street
- Totalling 3,197 sq ft GIA
- EPC Ratings: D, C, C, C
(subject to necessary consents).
The Property - Under our clients' ownership, 'Sterling House' has undergone a thorough 'no expense spared' conversion, transforming this original chapel into 4 self-contained apartments, all individually metered and serviced by new Vaillant gas boilers (installed within the last 12 months). The property is arranged over two storeys. Accessed from the front door via the side elevation is a central hallway which provides access to both flats on the ground floor and 2 flats on the first floor. Externally, a new natural slate roof has been installed, windows have been replaced and improved, and the stonework repointed. The property presents very well and would require little investment from an incoming purchaser. Externally is a small stone outbuilding currently used as a bin/bike shed.
'Sterling House' is well-positioned along New Street, which links Lower Market Street (Penryn town centre's main thoroughfare) to Commercial Road. Penryn train station is located approximately 0.5 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 hrs). In addition, there are regular bus services running from Penryn town centre, servicing the local areas and wider Cornwall.
All apartments are let on assured shorthold tenancies. Each apartment is generating £1,375 per calendar month, reflecting a yearly rent roll of £66,000. Water and wi-fi is included within the tenant's rental payments, however they are independently responsible for electricity and gas bills.
We understand the property is serviced by mains water, electricity, drainage and gas. All apartments are individually metered with individual, newly installed gas Vaillant boilers.
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