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Francis Stuart are delighted to offer to the market substantial Grade II listed former guest house, just moments from Plymouth Hoe, the city centre and the Barbican. Offering around 3,529 sq ft over five floors, with 13 potential letting rooms, 4 kitchens and 13 shower/en-suite facilities.
Planning is in place for a 12-bedroom HMO, with listed building consent also granted for the required internal works.
The property is currently vacant and offers a strong opportunity for an investor, or scope to explore a return to a substantial family home.
Projected rental income is around £86,000–£89,000 per annum, giving a potential gross yield of approximately 11.5%–11.9% at £750,000.
Francis Stuart are delighted to offer this substantial Grade II listed period property in a prominent position close to Plymouth Hoe, the city centre and the Barbican. Formerly operated as The Retreat Guest House, the property has remained within the same family for generations and offers an unusual opportunity either as a sizeable investment or to be returned to a substantial family home.
Arranged over five floors and extending to approximately 3,529 sq ft / 327.9 sq m, the accommodation currently provides 12 potential letting rooms, 4 kitchen areas and 13 shower/en-suite facilities, including 11 en-suites and two additional shared shower rooms, with generous proportions throughout
Planning permission has now been granted to change the property from its former Class C1 hotel use to a 12-bedroom HMO (Sui Generis), with listed building consent also in place for the internal alterations required
Proposed Rental Income
Based on our current room-by-room rental appraisal:
Ground Floor Front Bedroom: £600–£625 pcm
Ground Floor Rear Bedroom: £550–£570 pcm
Basement Front Bedroom: £625–£650 pcm
Basement Middle Bedroom: £575–£600 pcm
First Floor Rear Bedroom: £550–£570 pcm
First Floor Middle Bedroom: £575–£600 pcm
First Floor Front Bedroom: £560–£575 pcm
Second Floor Rear Bedroom: £550–£570 pcm
Second Floor Middle Bedroom: £575–£600 pcm
Second Floor Front Bedroom: £560–£575 pcm
Second Floor Front Middle Bedroom: £470–£495 pcm
Top Floor Rear Bedroom: £475–£500 pcm
Top Floor Front Bedroom: £475–£500 pcm
This gives a projected rental income of approximately £7,140–£7,430 pcm, equivalent to approximately £85,680–£89,160 per annum.
At £750,000, this equates to a potential gross yield of approximately 11.5%–11.9%, subject to completion of works, licensing, full occupancy and current market rents.
Planning and Listed Building Consent
The property is Grade II listed and lies within The Hoe Conservation Area.
Plymouth City Council granted conditional listed building consent on 24 March 2026 for:
“Internal alterations to facilitate change of use of hotel (Class C1) to 12-bed HMO (Sui Generis).”
The consent requires original historic features, including existing cornices, skirting boards and picture/dado rails, to be retained and protected during the works.
The approved scheme also includes provision for secure cycle storage for six bicycles and secure refuse storage for six bins.
Compliance
HMO licence: No current active licence
Gas Safety: Booked for 20 October 26
EICR: Recently expired, with remedial works being completed
EPC: To Follow
Planning: Approved for 12-bed HMO
Listed Building Consent: Granted
