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Cumbria House, Corporation Road, Workington, CA14

£ 1,600,000
in
Cumbria House, Corporation Road, Workington, CA14 2PG, UK,
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18 High Quality Apartments

A unique opportunity to acquire a fabulous development of 18 apartments in a prime, town centre location.

The current owners have advised us that a gross annual yield in excess of 15% is achievable, based on the current rental figures. At the time of writing, all but one of the apartments are rented out, and the final unit will be let in the coming weeks. The high quality of this development ensures that occupancy levels remain high and monthly rental income for each unit exceeds that of nearby, rental properties.

Cumbria House stands opposite Workington Town Hall on the site of a former ballroom, which was demolished to make way for this development. Completed in 2012, the complex comprises the following:

Two 2 bedroom penthouses with two bathrooms and private balconies to the front and rear
Four 2 bedroom apartments with balconies
Five 2 bedroom apartments
Two 2 bedroom duplex apartments
Two 1 bedroom duplex apartments
One 1 bedroom apartment

Free, off-road parking is available immediately behind the complex, whilst residents can also benefit from resident parking permits, within the local disc zone. There is a bus stop in front of the apartment block.

Access to the majority of the properties is by secure, main and rear entrances. A modern lift and clean, bright stairs lead to the upper floors. Five of the apartments have individual, front door access – direct from the street. The complex is fully compliant with all current safety regulations, including fire safety.

Each property is fully furnished, including fridge-freezer and washing machine, and has connections for a telephone and Sky TV. Central heating of individual apartments is powered by electric boilers feeding a standard wet system and radiators. A separate electric boiler within each unit provides hot water.

There is no mains gas to the complex, reducing the need for maintenance and gas safety certification. Individual meters for electricity and water help to keep administration costs low.

All properties are very spacious and have benefited from regular, programmed maintenance and redecoration. The indicative photographs within this listing are of one of the two bedroom units.

In summary, a fantastic opportunity to buy a high quality and fully established, freehold complex with 18, individual apartments. Just seven years old and fully compliant with all safety regulations, the property has been impeccably maintained and serviced. With outstanding occupancy levels and gross yields in excess of 15%, this is great opportunity for anyone seeking a modern, proven, residential lettings business.

Address: Cumbria House, Corporation Road, Workington, CA14 2PG, UK
Zip: CA14 2PG
Country: United Kingdom
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Property Id : 98641
Price: £ 1,600,000
Bedrooms: 27
walkscore94 / Walker's Paradise more details here

Active Life

Brigham
(5.32 miles)Brigham
The Lake District Heavy Horse Centre
(5.64 miles)The Lake District Heavy Horse Centre
Temple Sports
(7.5 miles)Temple Sports

Arts & Entertainment

Carnegie Theatre & Arts Centre
(0.13 miles)Carnegie Theatre & Arts Centre
Helena Thompson Museum
(0.41 miles)Helena Thompson Museum
Percy House Gallery
(7.6 miles)Percy House Gallery

Beauty & Spas

Education

BTCV Enterprises
(0.96 miles)BTCV Enterprises
St Bees beach
(10.74 miles)St Bees beach
North Lakes Driving School
(16.76 miles)North Lakes Driving School

Food

Haighs (Workington)
(0.17 miles)Haighs (Workington)
Paprika
(0.24 miles)Paprika
Caspian
(0.61 miles)Caspian

Health & Medical

Lucienne Beau, CHHC AADP
(12.55 miles)Lucienne Beau, CHHC AADP
West Cumbria Healthcare Nhs Trust
(7.81 miles)West Cumbria Healthcare Nhs Trust
Chrysalis Wholefoods
(19.91 miles)Chrysalis Wholefoods

Nightlife

Gallaghers Bar
(6.62 miles)Gallaghers Bar
The Henry Bessemer
(0.04 miles)The Henry Bessemer
Masons Arms
(9.09 miles)Masons Arms

Pets

Dumfries and Galloway Canine Rescue Centre
(23.76 miles)Dumfries and Galloway Canine Rescue Centre
Galemire Veterinary Hospital
(8.23 miles)Galemire Veterinary Hospital
Java & Chocolate
(16.67 miles)Java & Chocolate

Professional Services

Mjs Cleaning Services Domestic & Commercial
(0.15 miles)Mjs Cleaning Services Domestic & Commercial
W Lindsay & Sons
(7.48 miles)W Lindsay & Sons
Goody 2 Shoes
(7.5 miles)Goody 2 Shoes

Religious Organizations

Restaurants

Arrighi's
(6.82 miles)Arrighi's
Caspian
(0.61 miles)Caspian
Paprika
(0.24 miles)Paprika

Shopping

Debenhams
(0.17 miles)Debenhams
Marks & Spencer
(0.17 miles)Marks & Spencer
Tha Lakes Home Centre
(7.03 miles)Tha Lakes Home Centre

Transportation

Sue's Taxis
(0.96 miles)Sue's Taxis
Sparkys
(1.02 miles)Sparkys
Maxis Taxis
(29.42 miles)Maxis Taxis

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