Launceston, Cornwall · PL15
Church Street, Launceston
Church Street, Launceston, Cornwall, PL15
Asking price
Situated in the heart of historic Launceston, just moments from the town square and castle, this handsome Grade II-listed freehold offers a fully-let investment generating approximately £18,600 per annum, equating to a gross yield of around 9.5%. The property comprises a prominent ground-floor commercial unit with basement storage, plus two self-contained flats above, all with established tenants in place. With excellent footfall, strong rental demand and a prime Church Street position, this is a low-maintenance opportunity combining immediate income with long-term potential.
The home, in the agent’s words
- What3Words ///transit.registry.reduction
- Gross Income of £18,600 (9.5% Gross Yield)
- Prominent Church Street Location
- Ground Floor Commercial Unit
- First Floor Residential Flat
- Top Floor Spacious Flat
- Secure Rental Income Streams
- Total Income £18,000
- Period Features Throughout Property
- High Footfall Retail Area
Read the full agent description
Situated in the bustling and historic centre of Launceston, just a short stroll from the town square and beneath the imposing Norman castle, this handsome Grade II-listed property offers a rare opportunity to acquire a fully-let freehold building with immediate income and long-term potential.
Steeped in character, the mid-19th century façade features an elegant stucco finish, period sash windows and an attractive shop front believed to date from around 1900. The building enjoys a prominent position on Church Street, one of the town’s principal retail thoroughfares, benefitting from excellent footfall and visibility.
The ground floor comprises a bright and inviting commercial unit, previously home to a well-established jeweller, with large display windows and ample space for retail or office use. To the rear, there is an additional office area and access to a useful basement for storage. This unit is currently let at £500 per month, providing a steady and secure income.
Above, the first and second floors are arranged as two self-contained residential flats, both with private entrances from the rear. The first-floor flat offers a flexible layout with a bedsit/lounge, fitted kitchen, shower room and an additional room suitable as a bedroom or study, plus a separate cloakroom. It is currently let at £480 per month.
The top-floor flat features a lounge, kitchen, double bedroom, bathroom and an attic room offering extra living or storage space, with the tenancy currently producing £570 per month.
In total, the property generates a gross annual income of approximately £18,600, representing a healthy yield for investors. With the town’s consistent demand for both residential rentals and central commercial premises, this is a low-maintenance investment with proven returns.
Launceston itself is a thriving Cornish market town with a strong sense of community, a mix of national and independent retailers, and easy access to the A30, linking Exeter to the east and the rugged Cornish coast to the west. The surrounding countryside, including Bodmin Moor, offers stunning scenery, while the nearby north coast beaches are within easy reach.
Whether you are looking to expand your portfolio, secure a commercial base with additional rental income, or acquire a heritage building in a sought-after location, 18 Church Street presents an exceptional and reliable investment. Viewing is highly recommended.
A feel for the area
Connected for everyday life
50%of homes in the postcode can access 100+ Mbps broadband.
Available speed bands
- 30+ Mbps
- 50%
- 100+ Mbps
- 50%
- 300+ Mbps
- 50%
- 1,000+ Mbps
- 50%
Getting about
10.4 milesto Gunnislake Rail Station
Approximate straight-line distance · DfT NaPTAN · 13 Sept 2026Background air quality
- Fine particles · PM₂.₅
- 5.0 µg/m³ · Meets the WHO guideline
- Nitrogen dioxide · NO₂
- 3.3 µg/m³ · Meets the WHO guideline
Annual background levels. For scale: the WHO 2021 guideline is 5 µg/m³ for PM₂.₅ and 10 for NO₂; the UK legal limit is 20 and 40. Lower is better; this is a 1 km model, not a reading at the door.
Defra · 2024 annual model · 1 km areaLocal information is approximate. Distances are straight-line estimates from the available location. Broadband describes postcode coverage, not the speed or service available at this home; check the address with a provider. Air quality is a modelled annual background estimate.
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The information provided in this listing is for general information purposes only and does not constitute property particulars. We make no warranties or guarantees, express or implied, regarding the accuracy, completeness, or availability of the information.
Property details are provided by the listing agent, developer, or other third parties, and we have no control over the content provided. Prospective buyers or tenants should make their own enquiries and verify all information directly with the agent or relevant party.
Information relating to Energy Performance Certificates, Home Reports, or other statutory documents should be obtained directly from the selling agent or developer where applicable.