1 Preston Street, Whitehaven, Cumbria CA28 9DL

Description

A substantial, three storey commercial development property situated near the town centre and harbour. A former blacksmiths property with approximately 1,250 square feet on each floor plus garage at side. It is suitable for a variety of uses subject to the necessary planning approvals. Interested parties should make their own enquiries to Cumberland Council regarding their proposed use. Please note some of the machinery will be removed prior to completion.

Accommodation

Ground Floor: Main Workshop 39' x 19'; Store 26'9 x 19'. First Floor: Store 26'9 x 19'; Store 39'3 x 19'. Second Floor: Store 19' x 14'6; Store 19' x 12'6; Store 39'6 x 19'. Outside: Adjoining side Garage - see the title plan.

Location

Situated near the town centre and harbour. What3words location: ///saying.grades.music

Tenure / Property Information

Investment Analysis

The £50,000 guide cannot be independently assessed from the supplied evidence. The two Preston Street sold comparables are materially different, described only as “Other”, and are from 2016 and 2021; no floor areas, uses or condition are provided for comparison. No sufficiently specific rental evidence or formal GDV evidence is available. The property comprises approximately 1,250 sq ft on each of three floors plus an adjoining garage, but any alternative use is subject to planning approval and Cumberland Council enquiries.

Investment Snapshot

Strategy Recommendation

Treat as a conditional commercial opportunity only. Proceed only after satisfactory inspection, legal-pack review, confirmation of tenure and fees, and planning advice for the intended use.

Works Required

No refurbishment scope or cost evidence is supplied. Confirm the machinery to be removed, inspect the building, review the legal pack and obtain planning advice from Cumberland Council for any proposed use. Any works should be specified only after survey and planning review.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

BRRR analysis cannot be supported because refurbishment costs, rental income, market value/GDV and refinance value are unavailable. The £50,000 guide is not sufficient to establish a viable refinance outcome.

Buy-to-Let Analysis

BTL analysis cannot be established because no sufficiently specific rental evidence or auctioneer rent estimate is supplied. The property is commercial and any alternative use may require planning approval.

Flip Analysis

A flip appraisal cannot be established because there is no supported GDV, refurbishment budget or selling-cost allowance. The available sold comparables are not sufficiently specific to this property.

Investor Risks & Due Diligence

• Proposed uses are subject to necessary planning approvals and enquiries with Cumberland Council.

• Tenure and detailed legal information are only available in the legal pack.

• Buyer premium, disbursements and other potential charges are not quantified.

• No sufficiently specific rental evidence or passing income is supplied.

• No refurbishment or condition-cost evidence is supplied.

• Machinery is expected to be removed prior to completion, but the precise scope is not stated.

• The supplied sold comparables are not sufficiently comparable to establish market value.

Recommendation

Treat as a conditional commercial opportunity only. Proceed only after satisfactory inspection, legal-pack review, confirmation of tenure and fees, and planning advice for the intended use.

Strategy Rating

Analysis Confidence

The evidence provides a description, guide price and limited non-comparable sales, but no tenure detail, condition survey, refurbishment budget, rental evidence, planning position, GDV or complete purchase-cost schedule.