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Commercial Property for sale

Lorton Street, Cockermouth

£350,000

Property Description

Key features

  • Residential / Commercial Property Portfolio
  • Self contained retail shop unit
  • 5 x residential flats
  • Substantial income
  • Vacant possession available

Full description

In a very visible part of town, thats becoming ever more popular, these Lorton Street premises would make a superb opportunity for an investor wishing to maximise an investment portfolio.

The property comprises a spacious and characterful self contained retail unit with show room space arranged over two floors, together with five self contained bedsit apartments which have a successful track record of high occupancy levels and good rental income over a number of years. Fully let, the residential part of the property portfolio generates approximately £18,000 per annum.

The retail shop is currently occupied by the present owners but will be vacant upon completion.

Retail Shop Unit -

Ground Floor - 25'10" x 22'9" approx. (7.87m x 6.93m appro x 0.00 - Substantial ground floor retail space with return frontage to Lorton Street and Station Street including an imposing corner entrance.

First Floor - 25'10" x 22'9" approx (7.87m x 6.93m appro x) - Secondary retail/showroom area. WC enclosure.

Bed Sits / Apartments - The bedsits and apartments form a substantial part of the premises, arranged above the shop, and also within the rear part of the property with separate frontage and access from Lorton Road. The details are as follows:

Apartments 1-5 Lorton Street, Cockermouth
Apartments 1,2,4 & 5 each offer accommodation to a similar layout including a bedsit living area together with small kitchen and shower room.
Apartment 3 is slightly larger with accommodation including an entrance hall, lounge, separate bedroom, kitchen and shower room.

Tenancy Details - Flats are let on Assured Shorthold Tenancy Agreements with varying commencement dates.
Grisdales have acted as managing agents on behalf of the vendors for in excess of 10 years and can advise that the apartments have always proved popular, achieving good occupancy levels. Fully let, the residential portfolio generates a gross rent roll of approximately £16-17,000 per annum.

Council Tax - Our enquiries have revealed that the properties are placed in the following tax bands.
Retail Shop: the business retail value is £5,200 - the business rates payable for the current year are £2,402.40.
The apartments are each placed in Tax Band A.

Directions - The property is situated at the head of Station Street at the junction of Station Street itself and Lorton Street.

Viewing Arrangements - To view this property, please contact us on 01900 829977.

Notes To Brochure - Please note that all measurements have been taken using a laser tape measure which may be subject to a small margin of error. None of the appliances, heating system or fittings included within the sale have been tested or can be assumed to be in full working order. Purchasers are strongly advised to satisfy themselves by way of survey and their own enquiries. The brochure does not constitute a contract, part of a contract or warranty.

Consumer Protection Regulations 208 - Please contact us before viewing the property. If there is any point of particular importance to you we will be pleased to provide additional information or to make further enquiries. We will also confirm that the property remains available. This is particularly important if you are contemplating travelling some distance to view the property.

Moving With Grisdales - Moving is an exciting time but only if everything proceeds smoothly. Whether you are selling, letting, buying or renting, we understand that moving home can be a very stressful and daunting prospect. That's why, at Grisdales, we work together as a team, giving dedicated support and advice every step of the way to help your move run as smoothly and efficiently as possible.

Free Market Appraisal - If you are thinking of moving, we offer a completely free market valuation and appraisal of your existing home. We will advise you upon an asking price which accurately positions your property in the current market place, maximising viewings and your sale prospects.

Lettings And Management - If you are interested in property as an investment, we can help you every step of the way from Buy to Let advice to effective property letting and management.

Property Misdescriptions Act 1991 - In accordance with the Property Misdescriptions Act 1991, please note that these details have yet to be approved by the vendors.

Surveys And Valuations - We want your purchase to live up to those dreams, hopes and expectations. You need to know that your new home will not only be a sound investment, but also one which you will enjoy without the worry of the unknown. Grisdales offer a wide range of survey and valuation reports to meet different needs all backed by the qualification, experience and knowledge of a Chartered Surveyor.

To find out how we can help you realise your dreams, just call your nearest Grisdales office.

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