Summary - Church Street, Launceston, Cornwall PL15 8AP
2 bed 3 bath Not Specified
Fully-let Grade II town-centre freehold with secure income and period character.
Freehold, fully let three-storey building with mixed commercial/residential use
A rare, fully-let freehold in the heart of Launceston, this Grade II-listed three-storey property combines immediate rental income with long-term asset potential. The ground floor is a prominent retail unit on Church Street with large display windows; two self-contained flats occupy the upper floors, each with private rear access. The building produces a gross income of approximately £18,600 per year (c. 9.5% gross yield at £180,000). Its central location delivers strong footfall and visibility for the commercial tenant and steady residential demand for the flats.
Period features and a handsome mid-19th-century façade give the building character and curb appeal, appealing to buyers seeking a heritage investment. The property is sizeable internally (c. 1,426 sq ft / about 12 rooms), freehold, and benefits from excellent mobile and fast broadband—practical advantages for both tenants and managers. Rental streams are currently secure, with each unit let and producing predictable monthly income.
Buyers should note material constraints: the Grade II listing will limit external and internal alterations and can make repairs and upgrades more costly and time-consuming. The site has a very small plot with no garden or expansion space. The local area shows higher crime and relative deprivation compared with national averages, which can affect tenant profiles and management needs. These factors are balanced by strong town-centre footfall, good nearby amenities, and easy road links (A30).
For investors seeking an immediately income-producing, character-rich asset in a Cornish market town, this property offers a straightforward acquisition with visible upside from careful management and sensitive, listing-compliant improvements. It will suit a hands-on landlord, a small portfolio buyer, or someone looking to secure a town-centre commercial/residential freehold with proven returns.
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