Summary - 2A-2B, MARKET STREET CA3 8QJ
1 bed 1 bath Office
**Standout Features:**
- Prime location in Carlisle's city center near major retail stores (including TK Maxx) and amenities.
- Current rental income of £15,000 per annum with a 7.89% gross initial yield.
- Planning permission submitted for the conversion of first and second floors into 8 one-bedroom apartments, with some featuring study rooms.
- Self-contained office space spanning 5,543 sq ft over two floors, with adequate room for modern development.
- No VAT applicable to the property, increasing investment appeal.
**Potential Concerns:**
- Property condition may require maintenance efforts to meet residential standards.
- High local crime rates may deter some investors.
**Summary:**
Discover a lucrative investment opportunity at 2-2A Market Street, Carlisle, featuring spacious self-contained offices primed for conversion into eight one-bedroom apartments. With an attractive gross initial yield of 7.89% and a steady income of £15,000 p.a. secured by a lease through 2030, this property stands as a solid investment choice. The existing structure, characterized by its classic Victorian architecture, offers room for transformative renovations, creating sought-after living spaces in a bustling urban environment.
Nestled in the heart of Carlisle, you'll enjoy proximity to diverse amenities and easy access to local schools and transport networks. With planning submitted for conversion that caters to modern living needs, this property is not just a purchase but an opportunity to shape future rental spaces. Act fast—this compelling property has the potential to elevate your investment portfolio.
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