9 Oxford Street, Workington CA14 2AL
- PROPERTY TYPE
Commercial Property
- SIZE
Ask agent
Key features
- High Yielding Mixed-Use Investment Opportunity
- Ground Floor Retail Unit and 2 Bedroom Flat
- Fully Let to Two Separate Tenants
- Asset Management Potential
- Prominent Corner Pitch
- Investment Let at £9,600 p.a. (16% GIY on Guide Price)
Description
StrapLine
Auction Sale - 01/10/2025 - To book viewings, view the legal pack and register to bid please refer to the full sales particulars on the Savills Auctions websiteHigh Yielding, Multi-Let, Mixed Use Investment
Ground Floor Retail Unit with Two Bedroom Flat to Upper Parts - Let to Two Separate Tenants
Investment Let at £9,600 per annum (16% GIY)
Description
Freehold Residential & Retail Investment. Property comprises a 2 bedroom flat at first and second floors with a retail shop on the ground floor. Flat currently rented on an AST at £4,800 p.a. The ground floor commercial unit is let on a 5 year lease from September 2023 at a current passing rent of £4,800 p.a.
Property currently fully let at £9,600 p.a.
We understand that the property has a potential ERV of £12,600 p.a. purchasers should rely on their own enquiries in this regard.
Location
Workington, with a population of some 25,000, is located on the Cumbrian coast and is served by the A66 and A596. Carlisle is some 35 miles north-east, Whitehaven 8 miles to the south, whilst Penrith and the M6 Motorway (Junction 40) are 40 miles to the east.
The property is situated on a main arterial route within short distance from the pedestrianised area of Pow Street, Washington Square and Ivison Lane. Occupiers close by include Peacocks, Holland & Barrett, Lloyds Bank, Superdrug, Argos, Savers and Specsavers amongst others.
Tenancy
No. 9 (Ground Floor) - Retail Shop - Trading as a desert parlour. Let on a 5 year lease from September 2023 at a current passing rent of £4,800 p.a
No. 9 (First/Second Floor) - Residential Flat - Let on an AST for a term of 24 Months at a current rent of £4,800 p.a
Accommodation
No. 9 (Ground Floor) - Retail Shop: 50 sq m (538 sq ft)
No. 9 (First/Second Floor) - Residential Flat: 100 sq m (1,076 sq ft) 2 bedrooms, kitchen, living room, bathroom
9 Oxford Street, Workington CA14 2AL
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- Workington Station0.3 miles
- Harrington Station2.2 miles
- Flimby Station3.4 miles
Notes
Disclaimer - Property reference 194-18484. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Savills Auctions, London. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.
Auction Fees: The purchase of this property may include associated fees not listed here, as it is to be sold via auction. To find out more about the fees associated with this property please call Savills Auctions, London on 020 3909 6715.
*Guide Price: An indication of a seller's minimum expectation at auction and given as a “Guide Price” or a range of “Guide Prices”. This is not necessarily the figure a property will sell for and is subject to change prior to the auction.
Reserve Price: Each auction property will be subject to a “Reserve Price” below which the property cannot be sold at auction. Normally the “Reserve Price” will be set within the range of “Guide Prices” or no more than 10% above a single “Guide Price.”
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