Summary - 55b, High Street, CLEATOR MOOR CA25 5BQ
1 bed 1 bath Mixed Use
Large Victorian mixed‑use freehold with strong yield and immediate letting upside.
Freehold mixed‑use: shop with basement plus two flats (2‑bed and 4‑bed)
A substantial freehold mixed‑use building in Cleator Moor, offering immediate income and clear upside from three vacant rooms. The property comprises a refurbished ground‑floor shop with basement and two residential flats above (2‑bed and 4‑bed), fully refurbished internally in 2024 to a high standard. Current contracted rent is £24,000 p.a., with Total ERV of £42,000 p.a., giving a Gross Initial Yield of 10.43% and a GIY of 18.26% — attractive headline returns for an investor prepared to let the vacant rooms.
The retail unit is let on a 5‑year FRI lease from March 2025 at £6,000 p.a.; note the tenant has a mid‑term break option in August 2027 and a rent review in 2028 linked to RPI. Flats produce mixed occupancy: some rooms let on short ASTs while three rooms in the larger flat are vacant, presenting straightforward letting potential to reach ERV. Vendor will top up shop rent to 10/03/26 so buyer receives the equivalent of £6,000 p.a. from completion.
Externally the Victorian stone building has character but shows signs of water damage/damp and will need attention to external masonry and decoration. The property sits in a very deprived, higher‑crime small‑town location — this boosts rental demand for affordable lets but may constrain capital growth and some tenant profiles. VAT is not applicable.
Overall this is an income asset for a yield‑focused buyer: solid current income, immediate scope to increase rent by letting vacant rooms, and potential value uplift after external repairs and active management.
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