High Street 3 Unit Apartment Building $308,791 ($102,930/Unit) 12.52% Cap Rate Cleator Moor CA25 5BQ

Investment Consideration:
Gross Initial Yield: 12.52%
Rental Income: £28,800 p.a. + 2 Vacant Rooms
Total ERV: £40,800 p.a. GIY: 17.74%
VAT is NOT applicable to this property
Comprises ground floor shop with basement and two residential flats at first, second and third floor
Retail shop and both flats completely refurbished in 2024 to a high standard
Total GIA: 275 sq m (2,958 sq ft)
Located in the heart of the town centre with occupiers nearby including Greggs, Age UK, Opticians, Butchers, Restaurants and more.
Property Description:
The property comprises ground floor shop with ancillary accommodation at basement, 2-bed flat at first floor and 4-bedroom flat at second and third floor, providing the following accommodation and dimensions:
Ground Floor/Basement Shop:
Main Shop - 45 sq m (484 sq ft)
Rear Store - 12 sq m (129 sq ft)
Basement - 40 sq m (430 sq ft)
First Floor Flat 55B: 64 sq m (688 sq ft)
2 bedrooms, kitchen/dining room, bathroom
Second/Third Floor Flat 55A: 114 sq m (1,227 sq ft)
4 bedrooms, kitchen/dining,lounge, 2 bathrooms
Total Commercial GIA: 97 sq m (1,043 sq ft)
Total Residential GIA: 178 sq m (1,915 sq ft)
Tenancy:
Retail: The shop is at present let to an Individual for a term of 5 Years from 10th March 2025 at a current rent of £6,000 p.a. and the lease contains full repairing and insuring covenants. Rent review on 10.03.28 linked to RPI. Tenant option to determine on 10.08.27 with min 3 months notice.
Deposit held of £1,500. Lease within Landlord & Tenant Act 1954.
*Tenant has paid 1st Year rent in advance. Vendor will top up rent until 10.03.26 so the buyer receives the equivalent to £6,000 p.a. from completion.
Flat 55A:
Room 1 is at present let on AST to an Individual for a term of 2 Months from 27th May 2025 at a current rent of £4,800 p.a. Deposit held of £400.
Room 2 is at present let on AST to an Individual for a term of 12 Months from 19th September 2025 at a current rent of £4,800 p.a. Deposit held of £425.
Room 3 is at present vacant. ERV: £6,000
Room 4 is at present vacant. ERV: £6,000
Flat 55B:
Room 1 is at present let on AST to an Individual for a term of 12 Months from 1st March 2025 at a current rent of £6,000 p.a. Deposit held of £500.
Room 2 is at present let on AST to an Individual for a term of 12 Months from 5th January 2025 at a current rent of £7,200 p.a. Deposit held of £600.
Location:
Cleator Moor is a town, civil parish and two electoral wards in the English county of Cumbria and within the boundaries of the historic county of Cumberland. The area offers a wide range of public transport choices and there are ample public parking spaces in the vicinity. There are bus stops located near to the site, the closest being approximately 98ft from the site. Bus service 30 route is Maryport to Thornhill/Frizington and service SX9 is Asby to Workington. Occupiers nearby including Greggs, Age UK, Opticians, Butchers, Restaurants and more.