27 Bedroom Commercial Property for sale in Cumbria House, Corporation Road, Workington

27 Bedroom Commercial Property - £1,550,000

Cumbria House, Corporation Road, Workington

First listed on: 22nd September 2019

Nearest stations: Workington (0.2 mi)Harrington (2.2 mi)Flimby (3.5 mi)Parton (5.2 mi)Maryport (5.3 mi)

Interested in this property? Call See phone number 0333 577 9880

Further Informations

More Information

Property Features

  • Apartment Complex of 18 Units
  • Gross Yield of 15%+
  • New Build in 2012
  • Freehold Ownership
  • Free Parking, Lift and Secure Access

Property Description

18 High Quality Apartments

A unique opportunity to acquire a fabulous development of 18 apartments in a prime, town centre location.

The current owners have advised us that a gross annual yield of approximately 7.% is achievable, based on the current rental figures. At the time of writing, all but one of the apartments are rented out, and the final unit will be let in the coming weeks. The high quality of this development ensures that occupancy levels remain high and monthly rental income for each unit exceeds that of nearby, rental properties.

Cumbria House stands opposite Workington Town Hall on the site of a former ballroom, which was demolished to make way for this development. Completed in 2012, the complex comprises the following:

Two 2 bedroom penthouses with two bathrooms and private balconies to the front and rear
Four 2 bedroom apartments with balconies
Five 2 bedroom apartments
Two 2 bedroom duplex apartments
Two 1 bedroom duplex apartments
One 1 bedroom apartment

Free, off-road parking is available immediately behind the complex, whilst residents can also benefit from resident parking permits, within the local disc zone. There is a bus stop in front of the apartment block.

Access to the majority of the properties is by secure, main and rear entrances. A modern lift and clean, bright stairs lead to the upper floors. Five of the apartments have individual, front door access - direct from the street. The complex is fully compliant with all current safety regulations, including fire safety.

Each property is fully furnished, including fridge-freezer and washing machine, and has connections for a telephone and Sky TV. Central heating of individual apartments is powered by electric boilers feeding a standard wet system and radiators. A separate electric boiler within each unit provides hot water.

There is no mains gas to the complex, reducing the need for maintenance and gas safety certification. Individual meters for electricity and water help to keep administration costs low.

All properties are very spacious and have benefited from regular, programmed maintenance and redecoration. The indicative photographs within this listing are of one of the two bedroom units.

In summary, a fantastic opportunity to buy a high quality and fully established, freehold complex with 18, individual apartments. Just seven years old and fully compliant with all safety regulations, the property has been impeccably maintained and serviced. With outstanding occupancy levels and gross yields in excess of 15%, this is great opportunity for anyone seeking a modern, proven, residential lettings business.

18 High Quality Apartments

A unique opportunity to acquire a fabulous development of 18 apartments in a prime, town centre location.

The current owners have advised us that a gross annual yield of approximately 7.% is achievable, based on the current rental figures. At the time of writing, all but one of the apartments are rented out, and the final unit will be let in the coming weeks. The high quality of this development ensures that occupancy levels remain high and monthly rental income for each unit exceeds that of nearby, rental properties.

Cumbria House stands opposite Workington Town Hall on the site of a former ballroom, which was demolished to make way for this development. Completed in 2012, the complex comprises the following:

Two 2 bedroom penthouses with two bathrooms and private balconies to the front and rear
Four 2 bedroom apartments with balconies
Five 2 bedroom apartments
Two 2 bedroom duplex apartments
Two 1 bedroom duplex apartments
One 1 bedroom apartment

Free, off-road parking is available immediately behind the complex, whilst residents can also benefit from resident parking permits, within the local disc zone. There is a bus stop in front of the apartment block.

Access to the majority of the properties is by secure, main and rear entrances. A modern lift and clean, bright stairs lead to the upper floors. Five of the apartments have individual, front door access - direct from the street. The complex is fully compliant with all current safety regulations, including fire safety.

Each property is fully furnished, including fridge-freezer and washing machine, and has connections for a telephone and Sky TV. Central heating of individual apartments is powered by electric boilers feeding a standard wet system and radiators. A separate electric boiler within each unit provides hot water.

There is no mains gas to the complex, reducing the need for maintenance and gas safety certification. Individual meters for electricity and water help to keep administration costs low.

All properties are very spacious and have benefited from regular, programmed maintenance and redecoration. The indicative photographs within this listing are of one of the two bedroom units.

In summary, a fantastic opportunity to buy a high quality and fully established, freehold complex with 18, individual apartments. Just seven years old and fully compliant with all safety regulations, the property has been impeccably maintained and serviced. With outstanding occupancy levels and gross yields in excess of 15%, this is great opportunity for anyone seeking a modern, proven, residential lettings business.

Read more

Useful Statistics In Your Area

We have collected some useful information to help you learn more about your area and how it may affect it's value. This could be useful for those already living in the area, those considering a move or a purchase of a buy-to-let investment in the area.

Price Trends

Local Statistics

Property Location

Property Street View

Price History

Listed prices are those submitted to us and may not reflect the actual selling price of this property.

Date History Details
08/10/2020 Property listed at £1,550,000
24/09/2019 Property listed at £1,600,000

Disclaimer

Disclaimer Property reference A54F04F996839C_OPNB000231. Details are provided and maintained by Open House. Nethouseprices.com makes no warranty as to the accuracy or completeness of aforementioned details.

This property is marketed by

Suite 10, Station House

Central Way

Warrington

WA2 7TT

Telephone: See phone number 0333 577 9880

Arrange Viewing Arrange Viewing with Agent Check Affordability Check Affordability

Disclaimer

Disclaimer Property reference A54F04F996839C_OPNB000231. Details are provided and maintained by Open House. Nethouseprices.com makes no warranty as to the accuracy or completeness of aforementioned details.

Mortgage Calculator

Calculate the cost of a mortgage for your new home based on available data.

£ 0 per month
Get a free mortgage in principle
Thinking of selling or renting your property?
Get a instant valuation today!

This property is marketed by

Suite 10, Station House

Central Way

Warrington

WA2 7TT

Telephone: See phone number 0333 577 9880

Arrange Viewing Arrange Viewing with Agent Check Affordability Check Affordability

Free Instant Valuation

Find out more about the value of your property

Register For Free

Create an account for free today to unlock some great features of Net House Prices.

Arrange Viewing Arrange Viewing with Agent Check Affordability Check Affordability
Show Sidebar
Free House Valuation

More Information Instant House Valuation With your local agents