1-3 Market Place, Workington, Cumberland, CA14 4AX

Property Details: • Type: Flat • Tenure: FREEHOLD • Floor Area: N/A

Key Features: • large block of 6 flats • rare investment opportuinity • town centre location • fully FRI in place for 6 years and 11 month achieving a net of £43,200 per annum

Location: • Nearest Station: Workington Station • Distance to Station: 0.6695241400789734 miles

Agent Information: • Address: 4 Willow Street, Oswestry, SY11 1AA

Full Description: <b>For sale by Online Auction - 23rd ofSeptember 2026</b> <br /> <br />Prime Residential Investment Opportunity Fully Let Block of 6 Flats <br /> <br />An exceptionally rare opportunity to acquire a fully tenanted block of six self-contained flats, ideally located in the historic town of Workington, on the edge of the Lake District. <br /> <br />Investment Highlights <br />Fully let investment with all units secured on 6-year 11-month Full Repairing and Insuring (FRI) leases, including maintenance and bills <br />Immediate, hands-off income with long-term tenancy agreements in place <br />Recently refurbished (June 2024) to a high standard throughout <br />All furniture, fixtures, and white goods included in the sale <br />Refurbishment & Specification <br /> <br />The entire building underwent a comprehensive renovation prior to handover, including: <br /> <br />Full electrical rewire <br />New integrated fire safety system <br />Intercom access installed in each flat <br />Brand-new kitchens and bathrooms <br />Full redecoration throughout <br />New carpet flooring in all flats <br />Durable industrial laminate flooring in communal areas <br />Asset Value & Growth Potential <br />Valued at £500,000 (May 2024) prior to lease agreements <br />Projected commercial valuation: £606,000 (February 2026) <br />Offered below market value, presenting a strong yield and potential for a money-out" investment strategy <br />Tenure & Flexibility <br />Freehold ownership <br />Potential to split into individual leasehold titles for future resale or asset optimisation <br />Accommodation Overview <br /> <br />1 Market Place Entrance <br /> <br />Ground Floor <br /> <br />Communal entrance hall with staircase and rear fire exit <br />Flat 1: <br />1 bedroom <br />Large open-plan living/dining/kitchen area <br />1 bathroom <br /> <br />First Floor <br /> <br />Flats 2 & 3 (identical layouts): <br />Large bedroom <br />Spacious reception/living room <br />Large kitchen <br />Bathroom <br /> <br />Second Floor <br /> <br />Flats 4 & 5 (identical layouts): <br />Large bedroom <br />Reception/living room <br />Large kitchen <br />Bathroom <br /> <br />3 Market Place Entrance <br /> <br />Flat 6: <br />2 bedrooms (1 double, 1 single) <br />Large reception room <br />Bathroom <br />Private access to hallway <br />Energy Performance <br />EPC ratings range from C to D across all units <br />Sale Details <br />Offered via auction <br />Next auction date: 28 May 2026 <br />Pre-auction offers will be considered <br /> <br />This is a turnkey, income-generating asset in a desirable location, combining strong rental security with clear upside potential. Opportunities of this scale and readiness are seldom available. <br /> <br /><b>UNCONDITIONAL LOT</b> Buyers Premium Applies Upon the fall of the hammer, the Purchaser shall pay a 5% deposit and a 3%+VAT (subject to a minimum of £5,000+VAT) buyers premium and contracts are exchanged. The purchaser is legally bound to buy and the vendor is legally bound to sell the Property/Lot. The auction conditions require a full legal completion 28 days following the auction (unless otherwise stated).