41 King Street, PENRITH, Cumbria

A Grade II listed building of sandstone construction under an assumed slate-covered pitched roof, arranged over three floors. The ground floor is currently fitted out and trades as a good quality restaurant with direct access from King Street, and also a secondary access from Rowcliffe Lane at the rear. The first and second floors at the front of the building are currently fitted out as office suites with their own dedicated access off King Street.

The rear section of the building has been converted to provide a mixture of 4 no. 1 bed flats and 2 no. 2 bed flats, which are privately rented on Assured Shorthold Tenancy agreements.

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. The town has a railway station serving the main West Coast Line between London and Scotland. Penrith is 20 miles south of Carlisle and 28 miles north of Kendal, the nearest competitive retail centres. Penrith has a resident population of circa 16,000 with a local authority catchment in the region of 50,000.

The property is located fronting King Street, close to the intersection of Devonshire Street, and along from the main Market Square. Occupiers include a variety of national and local occupiers like NatWest Penrith, Greggs, Newcastle Building Society, and Scott Duff & Co.

Accommodation

This property has been measured on a Net Internal Area basis and extends to the following approximate areas:

Terms

Offers in the region of £775,000 are invited for the sale of the freehold investment.

Services

The property is connected to mains water, drainage, electricity and gas. Services have not been tested and interested parties should rely on their own investigations to confirm suitability.

Business Rates

The Valuation Office Agency website indicates the property has a number of current assessments:-
Restaurant & Premises RV £14,000
1st & 2nd Floor Offices RV £12,750
The flats have individual Council Tax assessments, all of which fall under Band A.

EPC

An EPC is in the process of being commissioned and will be made available shortly.

VAT

We understand the property is elected for VAT and therefore VAT will be payable on the sale price.