2-2A Market Street, Carlisle, Cumbria, CA3

Property Details: • Type: 5,543 sq ft • Tenure: N/A • Floor Area: N/A

Key Features: • Comprises self-contained office accommodation at first and second floor • ERV: £15,000 p.a. GIY: 8.57% • Planning submitted in January 2024 for conversion to 8 x 1-Bed apartments (two of the apartments have study room) • VAT is NOT applicable to this property

Location: • Nearest Station: Carlisle Station • Distance to Station: 0.4 miles

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

Full Description: Investment Consideration: Vacant possession ERV: £15,000 p.a. GIY: 8.57% VAT is NOT applicable to this property Comprises self-contained office accommodation at first and second floor Planning submitted in January 2024 for conversion to 8 x 1-Bed apartments (two of the apartments have study room) Occupiers nearby include The Market Hall Shopping Centre, TK Maxx and more.

Property Description: Comprises mixed-use block of 3 ground floor shops (sold-off) and self-contained office/commercial premises (Class E), arranged over first and second floor, providing the following accommodation and dimensions: First Floor: Reception, 4 office rooms, storage, staff room, wc Second Floor: 4 office rooms, storage, wc Ground Floor: 3 retail shops (sold-off) Total Office GIA: 515 sq m (5,543 sq ft)

Tenancy: First & second floor offices are at present vacant. ERV: £15,000 p.a. The 3 ground floor shops No.3 has been sold-off on long leasehold for a term of 999 Years at ground rent of peppercorn.

Development Potential: Planning submitted for conversion of existing first and second floor offices into 8 x 1-bed apartments (2 apartments have study room), providing the following accommodation and dimensions: First Floor: Apartment 1: 37 sq m (398 sq ft) 1 bedroom, kitchen/living room, bathroom Apartment 2: 50 sq m (538 sq ft) 1 bedroom, kitchen/living room, bathroom Apartment 3: 41 sq m (441 sq ft) 1 bedroom, kitchen/living room, bathroom Apartment 4: 55 sq m (592 sq ft) 1 bedroom, study, kitchen/living room, bathroom Second Floor: Apartment 5: 37 sq m (398 sq ft) 1 bedroom, kitchen/living room, bathroom Apartment 6: 50 sq m (538 sq ft) 1 bedroom, kitchen/living room, bathroom Apartment 7: 41 sq m (441 sq ft) 1 bedroom, kitchen/living room, bathroom Apartment 8: 55 sq m (592 sq ft) 1 bedroom, study, kitchen/living room, bathroom Total proposed GIA: 366 sq m (3,938 sq ft)

Location: Carlisle is a border city and the county town of Cumbria. The town is located 8 miles south of the Scottish border at the confluence of the rivers Eden, Caldew and Petteril. Carlisle is the only city in Cumbria. The city centre is largely pedestrianised and the Lanes shopping centre is home to around 75 shops. Carlisle is linked to the rest of England via the M6 motorway to the south, and to Scotland via the M74/A74 towards Glasgow and the north. The property is located in the town centre with occupiers nearby include The Market Hall Shopping Centre, TK Maxx, Restaurants, Barbers and more.