We recently went down to an open day at University College Falmouth.
It's quite a trek: we decided to go down the day before, taking it relatively easy, although we just flogged it up the motorway on the way back (flat out, motorway speed, no delays, five and a half hours). So we needed to find somewhere to stay.
We went to The Rosemary, and we can thoroughly recommend it. The rooms are a generous size, well equipped, and comfortable. We had the Hedford Suite, which is at the top of the house, allowing the girls to be in a separate twin room. It's in a quiet area, not on top of the town, but close and convenient, and we had no trouble parking on the street outside. There's a pleasant sitting room, with some games, and a honesty bar that allowed us to have a drink before turning in. Breakfast was comprehensive and filling - we usually fill up at breakfast and just snack in the day.