Summary - 41 King Street, Penrith, Cumbria, CA11 7AY CA11 7AY
6 bed 6 bath Retail Property (high street)
Character retail and flats with immediate rental income and refurbishment potential.
Grade II listed mixed-use freehold on King Street
A town-centre freehold investment on King Street, offered as a mixed commercial and residential package. The Grade II listed red sandstone building houses a trading ground-floor restaurant, two floors of offices and six privately let flats producing a combined rent of £20,500 per annum. The property sits in a busy market town location with excellent mobile signal and fast broadband, close to junction 40 of the M6 and the main Market Square.
The building’s period character — high ceilings, arched sandstone windows and large rooms — is a strong attraction for tenants and leisure operators. The ground-floor restaurant benefits from dual access to King Street and Rowcliffe Lane, while upper floors provide separate office suites and six self-contained flats on assured shorthold tenancies.
Important considerations: the building is Grade II listed, which will restrict alterations and can complicate refurbishment or change of use. Internal upgrading is likely required to improve energy efficiency and finish standards for modern lettings; obtain EPCs, measured floorplans and full tenancy schedules before purchase. The area shows elevated crime and relative deprivation indicators, which may affect some tenant types and insurance costs.
This lot suits an investor or small portfolio buyer seeking central, character-rich accommodation with immediate income and medium-term value uplift from targeted refurbishment and re-letting. Sale is offered VAT elected; confirm VAT treatment and service/management liabilities as part of due diligence.
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