41 King Street
PENRITH, Cumbria
For Sale 3,500 Sq Ft Sale: £775,000 Investment
-
Average rental income £79,500 per annum for the whole
- Prominent Building in Penrith Town Centre
WELL LET MIXED USE INVESTMENT OPPORTUNITY
A Grade II listed building of sandstone construction under an assumed slate-covered pitched roof, arranged over three floors. The ground floor is currently fitted out and trades as a good quality restaurant with direct access from King Street, and also a secondary access from Rowcliffe Lane at the rear. The first and second floors at the front of the building are currently fitted out as office suites with their own dedicated access off King Street.
The rear section of the building has been converted to provide a mixture of 4 no. 1 bed flats and 2 no. 2 bed flats, which are privately rented on Assured Shorthold Tenancy agreements.
Penrith is a popular market town on the fringe of the Lake District National Park, adjacent to junction 40 of the M6 motorway and the A66 Trans Pennine Trunk Road interchange. The town has a railway station serving the main West Coast Line between London and Scotland. Penrith is 20 miles south of Carlisle and 28 miles north of Kendal, the nearest competitive retail centres. Penrith has a resident population of circa 16,000 with a local authority catchment in the region of 50,000.
The property is located fronting King Street, close to the intersection of Devonshire Street, and along from the main Market Square. Occupiers include a variety of national and local occupiers like NatWest Penrith, Greggs, Newcastle Building Society, and Scott Duff & Co.
| Description | Sq Ft | Sq M |
|---|---|---|
| Ground floor restaurant and bar | 990 | 91.97 |
| Kitchen Prep area | 410 | 38.09 |
| Entrance area & WCs | 200 | 18.58 |
| First floor offices | 850 | 78.97 |
| Second floor offices | 900 | 83.61 |
| Second floor storage | 150 | 13.93 |
| 2 residential flats 1-4, 5 & 6 | ||
| Total | 3,500.00 | 325.15 |
The property is connected to mains water, drainage, electricity and gas. Services have not been tested and interested parties should rely on their own investigations to confirm suitability.
Offers in the region of £775,000 are invited for the sale of the freehold investment.