Summary - 3 King Street, Penrith, Cumbria, CA11 CA11 7AR
1 bed 1 bath Commercial Property
Large Grade II*/II listed café with two flats — strong value, reoccupation potential.
Prime King Street town centre position, high footfall
A substantial Grade II*/II listed mid-terrace on Penrith’s prime King Street, this mixed-use building combines a double‑fronted café unit (ground and first floors) with two self-contained flats above. The vacant café is ready for immediate occupation and benefits from high ceilings, large windows and a fitted commercial kitchen — ideal for continued café use, restaurant/bar conversion or alternative retail/service occupiers.
The two second-floor flats are independently accessed from St Andrew’s Place. Flat 1 is currently let at £450 pcm (AST) and Flat 2 is vacant, presenting short-term holiday‑let potential or steady residential income. Separate meters and gas combi boilers serve each element, simplifying management and letting arrangements.
Financially the building offers clear value: guide price £375,000 equates to around £88 per sq ft across 4,239 sq ft, with no VAT payable. Key risks and costs are upfront: the property is listed (Grade II/II*), which will restrict alterations and can complicate repairs and consenting. The café is vacant and requires reoccupation; services have not been tested and should be inspected. EPCs vary (C78/C77 for flats; D89 for café), so some energy improvements may be advisable.
Well placed for tourist and local trade, the property sits within walking distance of Penrith station and major road links to the Lake District, offering multiple income routes for an investor or an owner-operator willing to manage listed‑building obligations and possible refurbishment works.
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