A house that might be the finest waterfront property in Falmouth has come up for sale

Described by Daniel Defoe in 1724 as ‘by much the richest and best trading town in this county’, the historic port town of Falmouth lies at the mouth of the Fal estuary, said to be the third largest natural deep-water harbour in the world. Its working focus and raison d’etre is its distinctive waterfront, which forms a striking townscape both from land and water.

Here, Jonathan Cunliffe is handling the sale of Britons Slip, arguably the finest waterfront property in Falmouth. It’s on the market at £3.5 million.

The property comprises a historic detached house converted in the 1980s by the then captain of Adnan Khashoggi’s super-yacht Nabila (later Trump Princess), together with its adjoining commercial and freehold development site at 39, High Street.

The purchase also includes freehold offices and parking at 15, High Street, at a guide price of £3.5m for the whole.

The main house, listed Grade II, which comes with its own private slipway and pontoon with deep-water access (said to be the only such house in Falmouth), has five bedrooms, a two-bedroom apartment, a garden studio and a heated indoor pool.

While Britons Slip is a superb example of the finished article, those who aren't afraid of rolling their sleeves up could find extraordinary value elsewhere in the town.

Top of the list is Oyster and Gull cottages, on the market with Martin & Co at £670,000.

And yes, that is a mobile phone shop you see before you.

The shop and the two cottages (one with three bedrooms, the other with four) are currently let out — and earning yields of between 6.7% and 8.9% — so could easily be retained as an investment by the new owner.

Both cottages are currently let by students — and, er, it shows — so it'd need a new owner with patience, and vision, and someone willing to jump through various hoops with the authorities if any change of use was planned. That said, if feels like a big opportunity — you can see more details here.

For something equally spacious but more straightforward, and still with an enviable location close to the water, Lillicrap Chilcott are selling a seven-bedroom Georgian house with almost 5,000 sq ft at £1.5 million.

It's clearly had a lot of TLC over the years as the place has been beautifully done — somebody is going to have to move that motorbike from the hallway before the new owners arrive.

But it's a truly lovely place, and south-facing to boot — a real rarity in Falmouth. The agents describe it in glowing terms, but it's hard to disagree: 'A remarkably rare chance to acquire such a prime, imposing home in this wonderful setting in one of the south west’s most highly acclaimed places to live.'

See more homes for sale in Falmouth.

Credit: Getty Images

North Cornwall or South Cornwall – which is the place for you?

Credit: Strutt and Parker

Best country houses for sale this week

An irresistible West Country cottage and a magnificent Cumbrian country house make our pick of the finest country houses for