Income £45,000 PA
Income from 3 Retail units, 2 Cafes, 1 Shop
Income from 4 bedsits & 3 flats
Exciting Investment Potential
EPC Rating – E
This is an excellent opportunity to acquire 2 substantial freehold properties providing income streams from shop leases and adjoining accommodation lets. The adjacent properties are prominently positioned in the centre of the charming town of Appleby in Cumbria, which is set amidst beautiful rolling countryside with far reaching views to the Lake District to the West and the Pennines and Yorkshire Dales to the East. Not unexpectedly, tourism is a growing industry in the area.
The historic town of Appleby, set at the heart of the lush Eden Valley, is one of the loveliest towns in the North of England and was originally the county town of Westmorland: www.applebycumbria.co.uk Every June you can experience the atmosphere of the three hundred year old Horse Fair for which the town is famous. Other attractions here include the fine medieval Church of St. Lawrence.
The town is by-passed by the A66 giving good access east and west. The M6 is easily reached at Orton (J38) or Penrith (J40). Fast intercity rail is available from Penrith (West Coast Mainline) and Darlington (East Coast Service). There is a station on the historic Settle Carlisle Railway in the town giving good rail access to Carlisle and Leeds/Bradford. The nearest airport is Durham Tees Valley and international flights from Manchester can be made via a direct raillink at Penrith rail station. This really is a wonderful place to live!
The properties, which are grade 2 listed, are prominently located on Bridge Street, the main route through the town and close by the River Eden. There are 3 retail units on the ground floor, one being Eden River Cafe, a well established cafe. Another is Appleby Business Services which provides a comprehensive range of stationery, printing & copying services, internet access, computer supplies and more besides. The third unit is also let as Ruby''s Deli Cafe.
There are 4 bedsit accommodation units, 1 bedroom flat in no 5 and 2 1 bedroom flats above no 7. There is one rear studio to no 5 currently let as a dog grooming studio.
They are all let on assured shorthold tenancies but most tenants tend to stay for a number of years, such is the quality of this accommodation and local demand.
In summary, 2 substantial and valuable freehold properties (5/7 Bridge Street) producing excellent rental income with scope to develop further, and planning permission to convert one floor into residential accommodation. Also the turnover will increase substantially once the apartments are let. An early viewing comes highly recommended. For further information go to www.ApplebyBusinessCentre.co.uk, however please direct any enquiries through the agents.
Location Details: Appleby-in-Westmorland
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