Investment - 1A Main Street
EGREMONT, Cumbria CA22 2DJ
For Sale 1,054 Sq Ft Sale: On Application
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OFFERS INVITED FOR THE FREEHOLD INVESTMENT
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CURRENT GROSS RENTAL INCOME £26,000 PER ANNUM WITH POTENTIAL TO INCREASE, SUBJECT TO LETTING THE REAR WORKSHOP & SHOWROOM
- ARCHITECT DRAWINGS PREPARED TO CONVERT THE TOP FLOOR TO LUXURY PENTHOUSE WITH EXTENDED ROOF WITH WINDOWS TO TAKE IN THE SURROUNDING VIEWS
FULL PLANNING APPROVAL RECEIVED TO CONVERT THE FOUR RESIDENTIAL BEDSITS INTO A LUXURY APARTMENT
Full planning approval received to convert the four residential bedsits into a luxury apartment
Residential and Commercial uses
Located behind the proposed new Aldi Supermarket
Opportunity for Investment / Owner Occupation
Current Gross Rental Income: £26,000 per annum which would be increased subject to letting the rear workshop and showroom
1A Main Street is a three-storey mid terraced building of traditional block construction with a painted pebbledash finish, under a pitched tiled roof. The building has been owner-operated by KF Kitchens as a showroom and workshop premises with residential above. Disc zone parking is available in front.
Internally, the ground floor comprises an open-plan sales area with an office to the rear.
There is a detached rectangular-shaped workshop with a parking space and self-contained access to the four let and income-producing residential bedsits, inclusive of their own WCs and kitchens, arranged over the two upper floors. The commercial parts are suitable for further owner occupation or being let off as investments.
At present, the four residential bedsits are let individually and generate a rental income of £26,000 per annum. The rental income on the building could be increased, subject to letting out the rear workshop and showroom. The vendor has had Architect drawings to convert the top floor to a luxury penthouse with extended roof with windows to take in the surrounding views which they have received full planning approval to convert the existing four bedsits.
Egremont is positioned towards the west coast in the county of Cumbria, approximately 6 miles south of Whitehaven and conveniently positioned approximately 5 miles north of the Sellafield nuclear plant facility, one of the largest employers in the county.
Egremont town centre is largely made up of small-scale retail operators, plus some national representation through the likes of Betfred, Greggs, Heron Foods and Co-Op. In addition, there are a large number of private independent retailers for various cafés, sandwich bars and barber shops. The town draws on its proximity to Sellafield, which sees many contractors basing themselves close to Egremont and the surrounding area midweek.
| Description | Sq Ft | Sq M |
|---|---|---|
| Ground Floor | 647 | 60.11 |
| Workshop | 407 | 37.81 |
| First Floor 3 Bedsits (not measured due to occupation) | ||
| Second Floor 1 bedsit (not measured due to occupation) | ||
| Total | 1,054.00 | 97.92 |
We understand mains water, electricity (3-phase) and drainage are connected. There are individual meters for each flat, shop and workshop.
Offers invited for the sale of the freehold investment.