5A/5 Cornmarket, Penrith, Cumbria, CA11

Property Details: • Type: 840 sq ft • Tenure: N/A • Floor Area: N/A

Key Features:

Location: • Nearest Station: Penrith Station • Distance to Station: 0.2 miles

Agent Information: • Address: 54 Welbeck Street, London W1G 9XS

Full Description: Investment Consideration: Rental Income: £5,400 p.a. Asset management opportunity, flat is under rented. ERV: £8,400 p.a. VAT is NOT applicable to this property Comprises 3-bedroom flat at first and second floor and a retail shop at ground floor (sold-off) Cornmarket has a good trading position in the town and benefits from a range of national occupiers having a presence in the immediate vicinity including Domino`s, Betfred and Vision Express.

Property Description: Comprises 3-bedroom flat arranged at first and second floor and a ground floor shop which has been sold-off on long leasehold, providing the following accommodation and dimensions: Ground Floor Shop: Sold-off First/Second Floor Flat: 78 sq m (840 sq ft) 3 bedrooms, kitchen/living room, bathroom

Tenancy: The flat is at present let on AST to an Individual for a term of 6 Months from 3rd July 2020 (holding over) at a current rent of £5,400 p.a. Deposit held of £450. The ground floor shop has been sold-off on long leasehold for a term of 999 Years from November 2024 at a ground rent of peppercorn.

Location: Penrith is a popular market town on the fringe of the Lake District National Park adjacent to junction 40 of the M6 motorway, and the A66 Trans Pennine Trunk Road interchange; has a railway station serving the main West Coast Line between London and Scotland. Cornmarket has a good trading position in the town and benefits from a range of national occupiers having a presence in the immediate vicinity including Domino`s, Betfred and Vision Express.