Investment Properties for sale in Penrith

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Polly Franey (July 2015)
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Freehold Price: £210,000 Price Reduced Annual Turnover: £13,300
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Business Description
Exquisite ground floor shop; upper floor 3 bedroom flat with separate access; both currently let producing an income of £13,300 per annum; opportunity for easily managed investment.

Penrith is a market town located on the north east fringe of the Lake District with a population of around 16,000 and catchment population of around 45,000. It has excellent transport links being at the junction of the M6 motorway and the A66 trans-Pennine trunk road and has a Station on the west coast main line linking London and Glasgow. Major retailers in the town include Burtons, Argos, Morrison’s, B & Q, Booths, Sainsbury’s, Aldi, W H Smith, Boots and Sports Direct. The property lies in a prominent location in the main shopping area.

Lovely original four storey town centre property built in sandstone with shop and upper floor flat as follows:

SALES AREA 41.8 sqm

The Sales area includes a small partitioned office and has a hatch to a basement with useful storage space.

With separate access via a side passage and rear external metal staircase:

First floor
LIVING ROOM (5.56m x 3.21m)
KITCHEN (2.79m x 3.33m) with wall and base units, stainless steel sink unit and wall mounted gas fired central heating boiler.

Second Floor
BEDROOM 1 (4.72m x 3.35m)
BEDROOM 2 (2.81m x 2.68m)
SHOWER ROOM with shower cubicle, WC and wash hand basin.

Third Floor
BEDROOM 3 (4.19m x 2.57m)

The flat is well presented and can be let as a whole or as bedsits.

All references to areas and dimensions are deemed to be approximate.

We are advised that mains water, electricity, gas and drainage are connected to the property. The flat has gas fired central heating. No warranty is given regarding the working order of any appliances or services referred to in these particulars.

We are advised the property is freehold.
Occupational Agreements and Income
The Shop is let on an internal repairing and insuring lease for a term of 3 years from 4th June 2013 at a rent of £8,200 per annum.

The Flat is let on an assured shorthold tenancy at a rent of £425 per calander month.
Description in list: Shop and premises
Rateable Value: £4,150
Council Tax (flat): Band A

The rateable value is not the rates payable and prospective tenants or purchasers should make their own inquiries with respect to the rating liability.

Any items in the nature of fixtures and fittings not referred to in these particulars are excluded.

Prospective purchasers or tenants should satisfy themselves that their proposed use complies with all planning regulations by making inquiries with the local planning authority.

All reference to price, premium or rent are deemed to be exclusive of VAT unless expressly stated otherwise. Stamp duty is liable at the prevailing rates.

If you require financial assistance, we can refer you to a local professional who can advise on sources of finance and prepare a business plan which most lenders now require.

Strictly by appointment with the sole agents, Mere Commercial Ltd. Tel. 017684 83498. E-mail. Date
Tenure: Freehold

Downloadable Documents

Listed by: Mere Commercial
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