Description
A rare opportunity to acquire a mixed-use retail investment property, perfectly positioned in the heart of the Lake District. Situated on the ever-popular Lake Road, the property features a prominent ground floor retail unit with a glazed frontage, offering excellent visibility and footfall. This retail space also has the added benefit of a large basement facility currently utilised as treatment space and further storage. Externally, there is access to a further commercial section, currently configured as an office space. This additional area also has the added benefit of use of a parking space at the rear. Above, the first floor hosts a spacious three bed apartment, currently let on an Assured Shorthold Tenancy. The apartment is light and airy, enjoying far-reaching views towards the surrounding fells. Tastefully decorated throughout, it provides a high standard of living accommodation. To the rear of the property, there are two additional income-generating units: a one-bedroom studio flat, which is currently let, and a small office, also let. Both units have private access from the side of North Terrace.
INVESTMENT DETAILS: The ground floor retail unit is currently let to a Bakery on a new lease at a passing rent of £10,000 per annum.
The three bed apartment is let on an Assured Shorthold Tenancy (AST) at £1250 per calendar month (pcm), generating an annual income of £15,000 per annum.
The rear storage unit is let to a professional services tenant at an annual rent of £4,200 per annum.
The one bed studio flat is let on an Assured Shorthold Tenancy at £575 per calendar month, generating an income of £6900 per annum. This is in the process of being upgraded and will therefore shortly have increase in this rental income once complete.
Therefore, the property has the potential to generate a total annual income of over £36,000.
Location
22 Lake Road is situated in the heart of Bowness-on-Windermere, one of the most prominent and heavily visited towns in the Lake District National Park ‚ì a UNESCO World Heritage Site. The town is internationally renowned for its natural beauty, access to Lake Windermere, and vibrant mix of tourism, hospitality, and independent retail. Bowness attracts millions of domestic and international visitors annually, ensuring year-round footfall and consistent demand for retail, leisure, and residential property. The property lies on Lake Road (A5074), the town‚s principal commercial thoroughfare, which links Windermere village to the north with Bowness‚s town centre and lakefront to the south. Lake Road is a busy and high-profile location with constant pedestrian and vehicle traffic, especially during peak tourist seasons
