60 Shaddongate, Carlisle, Cumbria

Description

A freehold commercial investment property opposite Dixons chimney, recently refitted and let at £9,300 per annum, giving a yield of 15.5% at the guide price. The property has not been inspected by the auctioneer.

Accommodation

Approximately 65 square metres overall, comprising retail space on the ground floor and storage above.

Location

Opposite Dixons chimney. What3words location: ///using.ruins.shut

Tenure / Property Information

Investment Analysis

The £60,000 guide implies a 15.5% gross yield on the stated £9,300 annual rent. The same address recorded a £54,000 completed sale on 2 April 2026, although it was categorised as a flat/maisonette and may not be directly comparable. A £68,000 sale at number 55 from 2015 is historic and of limited relevance. A £60,000 base value is therefore a reasonable evidence-based working assumption, with material uncertainty because the auctioneer has not inspected the property and the lease and legal terms require review.

Investment Snapshot

Strategy Recommendation

Consider only as a cautious income-producing commercial hold, subject to satisfactory legal-pack review, lease due diligence, inspection and confirmation of all fees. Do not rely on a refurbishment or flip strategy without further evidence.

Works Required

No specific works are evidenced. The property is described as recently refitted and currently occupied. Verify condition, statutory compliance, fixtures and repair obligations through inspection and the legal pack rather than assuming a refurbishment budget.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the £60,000 base value and no quantified works allowance, 75% of GDV is £45,000. Against the £61,500 purchase plus known administration cost, the indicative shortfall before finance and tax is £16,500. This excludes unknown buyer premium, disbursements and any works, and commercial refinance availability and terms are unsupported by the evidence.

Buy-to-Let Analysis

On the stated £9,300 annual rent, the headline gross yield is 15.5% at the £60,000 guide. Including the known £1,500 minimum administration charge, the gross yield on £61,500 of known purchase and administration cost is approximately 15.12%. This excludes any buyer premium, disbursements, finance, tax, insurance, maintenance, management and voids. The lease is stated to be a new five-year lease from July 2026, but tenant covenant, rent review, break rights, repairing obligations and other lease terms are not supplied.

Flip Analysis

A flip case cannot be established confidently. The property is already described as recently refitted and let, with no supported refurbishment scope or selling-cost allowance. On the base figures, £60,000 GDV less £61,500 of known purchase and administration cost is already negative before selling costs, finance, tax and other unknown charges.

Investor Risks & Due Diligence

• The auctioneer has not inspected the property.

• The new five-year lease terms, tenant covenant, break provisions, rent review provisions and repairing obligations are not supplied.

• A flying freehold exists over part of the property.

• Buyer premium, disbursements and other possible legal or transfer costs are unspecified.

• The £54,000 same-address comparable is categorised as a flat/maisonette and may not be directly comparable.

• Any works or condition issues cannot be quantified from the supplied evidence.

• The stated rent is contractual/auction evidence but passing-rent verification and payment history are not supplied.

Recommendation

Consider only as a cautious income-producing commercial hold, subject to satisfactory legal-pack review, lease due diligence, inspection and confirmation of all fees. Do not rely on a refurbishment or flip strategy without further evidence.

Strategy Rating

Analysis Confidence

The stated rent, guide price, tenure, occupancy, lease commencement and administration charge support the headline calculations. Confidence is reduced by the absence of inspection, unspecified buyer premium and disbursements, limited directly comparable sales, and incomplete lease and tenant information.