Summary - 8, KING STREET CA28 7LA
1 bed 1 bath Retail Property (high street)
**Standout Features:**
- Freehold retail property on the bustling King Street, Whitehaven
- Total area of 252.50 sq m (2,718 sq ft) split across ground and first floors
- Currently generating £15,000 p.a. in rental income with a gross initial yield of 6.00%
- Rear service access and goods lift from ground to first floor
- Proximity to Whitehaven Marina and prominent retailers (e.g. Post Office, WH Smith, Costa)
- Regeneration plans in the area enhancing future value
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This expansive freehold retail property offers an excellent investment opportunity in the thriving heart of Whitehaven, Cumbria. With a substantial total area of 252.50 sq m (2,718 sq ft), it presents a versatile layout ideal for a range of retail configurations. The ground floor features an inviting sales area complemented by additional storage space across both levels. The property benefits from a rear service access and a goods lift, enhancing operational efficiency.
Strategically located a short stroll from the Whitehaven Marina, the property is surrounded by well-known retailers, ensuring high foot traffic that can attract a diverse clientele. The existing lease runs until 2027 at £15,000 p.a. with a potential tenant option in the third year, providing investors with security and flexibility. Additionally, ongoing regeneration plans for King Street and the Harbor area promise to boost the property’s value further.
However, potential buyers should be aware of the high crime levels in the local area and the considerable urban deprivation. The property's maintenance needs will also require consideration, especially for those interested in leveraging the space for broader potential. This property is a unique opportunity that won't last long—secure your spot in this growing community today!
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