48 50 54-56 Pow Street
WORKINGTON, Cumbria CA14 3AG
For Sale Sale: £295,000 Guide Price
- CURRENT RENTAL INCOME £22,750 PER ANNUM EXCLUSIVE
- BLOCK OF PROPERTIES IN A PROMINENT TOWN CENTRE LOCATION
- THREE FREEHOLD MID-TERRACED BUILDINGS FORMING PART OF A RETAIL PARADE
INVESTMENT FOR SALE
Investment Highlights:
Prominent town centre location
Current rental income: £22,750 per annum exclusive
48, 50 and 54-56 Pow Street comprise three freehold mid-terraced buildings forming part of a retail parade.
48 Pow Street comprises a two-storey, rectangular-shaped retail unit. Internally, the ground floor is an open-plan sales area and office to the rear. The first floor has internal storage, a kitchen, and WCs.
50 Pow Street is a two-storey unit laid out to the ground floor with a good-sized sales area with WC to the rear. The first floor provides a useful ancillary staff break room, office space, stock storage and staff WC.
54-56 comprises a two-storey corner unit laid out to ground floor sales with ancillary staff and storage accommodation. The first floor provides further storage.
Workington is the administrative centre for Allerdale Borough with a resident population of around 26,000, and an estimated catchment of 76,000. Workington is connected to Cockermouth and North Cumbria by the A595, and is approximately 1 hour from the City of Carlisle, which provides access to the M6 motorway and the West Coast Main Line. The town sits north of Whitehaven. Current developments within Workington include a new large office building within the town centre and the proposed sports village.
The block of properties lies in a prominent trading location on Pow Street, one of the main retail pitches in Workington town centre. Nearby occupiers include Marks & Spencer, TUI, Sports Direct, Iceland, and British Heart Foundation. TK Maxx and Loungers within the nearby Washington Square Shopping Centre have created a demand for a stronger presence in town.
| Description | Sq Ft | Sq M |
|---|---|---|
| 48 Pow Street - LET | 1,078 | 100.15 |
| 50 Pow Street - VACANT | 1,868 | 173.54 |
| 54-56 Pow Street - LET | 2,363 | 219.52 |
| Total | 5,309.00 | 493.21 |
Services
48 Pow Street
We understand mains water, drainage, and electricity is connected.
50 Pow Street
We understand mains water, drainage, electricity and gas is connected.
54-56 Pow Street
We understand mains water, drainage, and electricity is connected.
Offers in the region of £295,000 are invited for the freehold investment.