Available
Penrith – 3-Bed Flat
5A Cornmarket, Penrith, Cumbria CA11 7DAVirtual Freehold Residential Investment
Price
£65,000
Rent P.A.
£5,400
Yield
8.31%
Tenure
Leasehold
Area
840 SQ FT
VAT Applicable
No
Sector
Investment Consideration
- Asset management opportunity
- Flat under rented, ERV: £8,400 p.a. GIY: 12.92%
- Comprises 3-bedroom flat at first, second and third floor
- Cornmarket has a good trading position in the town and benefits from a range of occupiers having a presence in the immediate vicinity including Domino’s, Betfred and Vision Express.
Key Features
Tenure
Leasehold
VAT
VAT is not applicable.
Property Description
Comprises 3-bedroom flat arranged at first, second and third floor, providing the following accommodation and dimensions:
First/Second/Third Floor Flat: 78 sq m (840 sq ft)
3 bedrooms, kitchen/living room, bathroom
First/Second/Third Floor Flat: 78 sq m (840 sq ft)
3 bedrooms, kitchen/living room, bathroom
Tenancy Description
The flat is at present let on a periodic tenancy to an Individual at a current rent of £5,400 p.a. Deposit held of £450.
Tenure:
Long leasehold. To be held on a 999 year lease from completion at a ground rent of peppercorn.
Tenure:
Long leasehold. To be held on a 999 year lease from completion at a ground rent of peppercorn.
Tenancies & Accommodation
Location Description
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; has a railway station serving the main West Coast Line between London and Scotland. The town is 20 miles south of Carlisle and 28 miles north of Kendal, the nearest competitive retail centres. Penrith has a resident population circa 16,000 with a local authority catchment in the region of 50,000. Cornmarket has a good trading position in the town and benefits from a range of national occupiers having a presence in the immediate vicinity including Domino’s, Betfred and Vision Express. For identification purposes only the property is shown circled blue on the location plan attached overleaf.





