3 King Street, Penrith, Cumbria, CA11

Property Details: • Type: Ask agent • Tenure: N/A • Floor Area: N/A

Key Features: • The property provides a prime town centre café premises arranged over ground and first floor, and two independently accessed self-contained flats on the second floor • An attractive stone and slate building on one of the main retailing parades in the desirable market town of Penrith • The retail element comprises an established café premises which is currently vacant and ready for immediate occupation • Two separately accessed flats, Flat 1 is let to a longstanding tenant at £450 pcm and Flat 2 is currently vacant, offering a holiday let opportunity or traditional letting • Overlooking St Andrews Place, an attractive courtyard setting with pedestrian walkway • Purchase price - £375,000 showing excellent value for money and a low overall capital value rate of £88 per sq ft on the total gross internal area • No VAT payable

Location: • Nearest Station: Penrith Station • Distance to Station: 0.3 miles

Agent Information: • Address: 23 Church Street, Windermere, LA23 1AQ

Full Description: LOCATION

The subject property is located on King Street one of the main retailing pitches in the market town of Penrith, Cumbria in the North West England.

Penrith is an attractive and affluent market town situated just 3 miles to the north east fringe of the Lake District. It is well located being on Junction 40 of the M6 motorway network providing direct access north and south and to the A66 which leads west to the Lake District National Park and east to Scotch Corner and the A1(M).

Penrith has a resident population of approximately 16,701 (2021 Census) and is located within Eden District with a District population of over 54,700 (2021 Census). Carlisle is approximately 20 miles to the north, Kendal 32 miles to the south and Keswick 18 miles to the west. Penrith has a train station on the main West Coast Line with direct services north to Carlisle and Glasgow and South to London Euston with a journey time of around 3 hours.

The town is a popular tourist destination due to its proximity to the Lake District National Park, Yorkshire Dales and ease of accessibility. Penrith is a stopping point on a number of the Coast to Coast routes and is supported by good retail and leisure facilities including Sainsbury's, Booths, Morrisons and Aldi Supermarkets as well as Boots, M&S Food, Argos and WHSmith.

King Street forms part of the A6, one of the main routes into Penrith town centre and leading from the A66, less than 1 mile to the south. The A6 King Street continues north into the heart of the town centre providing a range of local, regional and national retail occupiers as well as leisure facilities and national supermarket brands. Penrith Railway Station is around 800 metres to the north west of the property.

DESCRIPTION

The property comprises an attractive Grade ll and Grade ll* Listed mid-terrace prime mixed-use property incorporating a very well presented café premises arranged over ground and first floor and two independently accessed self-contained second floor flats.

Café

The ground floor of the property comprises a café premises with commercial kitchen, preparation area, pantry, front and rear seating areas, serving bar and disabled WC.

Café - the front and rear café is open plan with attractive double fronted timber framed single glazed shop windows, a mixture of free-standing tables and chairs, timber bar, staircase to the first floor, central walkway with disabled WC off and a rear set of steps to the rear seating area incorporating attractive timber panelling, spotlights and a secondary entrance from St Andrews Place.

Commercial Kitchen - comprises a range of commercial kitchen units, commercial stainless steel sink and drainer, a mixture of commercial cooking equipment and extractor unit.

The first floor of the café is accessed via a side staircase up to a central hallway with doors through to a large front room, central male, female and staff toilets and large open plan rear room, both large rooms offer flexible accommodation which can be used for a variety of uses.

Residential Flats

The residential flats are accessed via a separate private door from St Andrews Place, leading up to a communal landing and doors to the flats and private store.

Flat 1

Offering two-bedroom accommodation arranged with a dining hall and doors to two bedrooms, kitchen/living room, and bathroom.

Dining Hall (2.52m x 2.21m) - carpeted flooring, plaster painted walls and ceiling, downlighting, timber framed double glazed window and doors to the rest of the accommodation.

Bedroom 1 (4.54m x 2.84m) - carpeted flooring, plaster painted walls and ceiling, downlighting, timber framed window and wall mounted radiator.

Bedroom 2 (2.91m x 2.78m) - carpeted flooring, plaster painted walls and ceiling, downlighting, wall mounted radiator, fitted wardrobes and timber framed window.

Kitchen/Living Room (5.10m x 3.19m) - arranged over split level with wood effect laminate flooring, plaster painted walls and ceiling, downlighting, floor and wall mounted kitchen units with tile splashback, stainless steel sink and drainer, wall mounted combination boiler, wall mounted radiator, timber framed windows and exposed timber beams

Bathroom (1.75m x 2.13m) - wood effect vinyl flooring, plaster painted walls and ceiling, spotlighting, wall mounted radiator, low level WC, wash hand basin, bath with electric shower over and extractor fan.

Flat 2

The front door opens to a lobby with steps down to a central hallway and doors off to a kitchen/ living room, two bedrooms and a bathroom.

Kitchen/Living Room (3.34m x 5.06m + 1.65m x 2.21m + 1.30m x 1.50m) - wood effect vinyl flooring, plaster painted walls and ceiling, downlighting, exposed beams, timber framed windows, wall mounted radiator and a mixture of floor and wall mounted kitchen units, stainless steel sink and drainer, tile splashback, wall mounted combination boiler and strip fluorescent lighting.

Bedroom 1 (3.04m x 3.09m) - carpeted flooring, plaster painted walls and ceiling, downlighting, wall mounted radiator, timber framed window and exposed timber beam.

Bedroom 2 (3.39m x 3.35m) - carpeted flooring, plaster painted walls and ceiling, downlighting, wall mounted radiator, timber framed window and exposed timber beam.

Bathroom (2.03m x 2.24m) - wood effect vinyl flooring, plaster painted walls and ceiling, spotlighting, wall mounted radiator, low level WC, wash hand basin, bath with electric shower over and extractor fan.

ACCOMMODATION

The property has the following approximate floor areas:

Gross Internal Areas

Basement                               No Access No Access Ground Floor                        144.70m2 (1,472 sq ft) First Floor                             135.67m2 (1,460 sq ft) Second Floor                         113.47m2 (1,221 sq ft) Total Approximate GIA      393.84m2 (4,239 sq ft)

Shop Net Internal Areas

Ground Floor Trading            119.10m² (1,282 sq ft) First Floor Trading                 90.46m2 (974 sq ft) Basement                                  No Access No Access Total Approximate NIA         209.56m2 (2,256 sq ft)

Residential Gross Internal Areas

Flat 1                                          54.77m2 (590 sq ft) Flat 2                                          53.62m2 (577 sq ft)

SERVICES

The land and building are connected to mains electricity, gas, water and the mains drainage/sewage system.

The shop and each apartment are separately metered and each element has a gas fired combination boiler which supplies hot water and radiators.

It should be noted that services have not been tested and therefore should not be relied upon on.

RATEABLE VALUE/COUNCIL TAX

The ground floor shop is assessed with a Rateable Value of £16,250 and is described as a café and premises.

Flat 1 and Flat 2 are assessed as Council Tax Band A properties.

Prospective tenants should check the exact rates payable with Westmorland & Furness Council.

ENERGY ASSET RATINGS

Copies of the Energy Performance Certificates are available to download from the Edwin Thompson website or upon request. The separate elements of the property have the following Energy Asset Ratings:

Café - D89 Flat 1 - C78 Flat 2 - C77

TENANCY SCHEDULE

Café Premises

The café is currently vacant but would lend itself to a mixture of uses including continued use as a café premises, a restaurant/bar operation, a traditional retail shop or office operator, on either a letting basis or as an owner occupier.

Flat 1

Is let on a 6 month Assured Shorthold Tenancy Agreement, on an unfurnished basis, at a rental of £450 per calendar month, equating to £5,400 per annum.

Flat 2

Is currently vacant but would lend itself to holiday let use or as a traditional residential letting.

Further information on the individual lease agreement can be provided upon request and where available.

TENURE

The property is held freehold (Title Number: CU75416) with the extent shown red on the attached plan.

PROPOSAL

Offers invited at a guide price of £375,000, exclusive, for the freehold interest.

Please note that the sellers are not obligated to accept the highest or any offer and are free to amend the details as they require without prior notice.

MONEY LAUNDERING REGULATIONS

The successful purchaser(s) should be aware that they will be required to provide the vendors agent with documents in relation to Money Laundering Regulations. Further details are available upon request.

EASEMENTS, WAYLEAVES AND RIGHTS OF WAY

The land and property are sold subject to and with the benefit of all public and private rights of way, lights, drainage, cable, pylons or other easements, restrictions or obligations whether or not the same are described in these particulars of sale.

VAT

All figures quoted are exclusive of VAT where applicable.

LEGAL COSTS

Each party to bear their own legal costs in the preparation and settlement of the sale documentation together with any VAT thereon.

VIEWING

The property is available to view strictly by appointment with Edwin Thompson, contact:

Joe Ellis - at our Windermere office. Amelia Todd - at our Windermere office.

IMPORTANT NOTICE Edwin Thompson for themselves and for the Vendor/Landlord of this property, whose Agents they are, give notice that: 1. The particulars are set out as a general outline only for the guidance of intending purchasers and do not constitute, nor constitute part of, any offer or contract. 2. All descriptions, dimensions, plans, reference to condition and necessary conditions for use and occupation and other details are given in good faith and are believed to be correct, but any intending purchasers should not rely on them as statements or representations of fact but must satisfy themselves by inspection or otherwise as to their correctness. 3. No person in the employment of Edwin Thompson has any authority to make or give any representation or warranty whatsoever in relation to this property or these particulars, nor to enter into any contract relating to the property on behalf of the Agents, nor into any contract on behalf of the Vendor. 4. No responsibility can be accepted for loss or expense incurred in viewing the property or in any other way in the event of the property being sold or withdrawn. 5. These particulars were prepared in December 2024