**Development opportunity**
• Commercial building extending to 407 sqm (4, 377 sqft)
• Rear land currently used as car park
• Previously used for retail purposes with ancillary storage
• Prominent town centre location
• Suit commercial refurbishment or residential development subject to planning
• Edge of Lake District market town
Location
Penrith is a market town located on the north - east fringe of the Lake District
with a population of around 16, 000 and catchment population of around 45, 000.
It has excellent transport links being at the junction of the M6 motorway and
the A66 trans - Pennine trunk road and has a Station on the west coast main line
linking London and Glasgow. Major retailers in the town include Argos,
Morrisons, B & Q, Booths, Sainsburys, Aldi, W H Smith, Boots and Sports
Direct. The property is situated fronting Castlegate close to the main town
centre shopping area.
Description
The property comprises a stone - built terrace commercial building on two floors
plus an attic floor with retail areas on the ground floor and storage on the
upper floors together with a substantial gravelled area of land to rear,
currently used as a private car park for up to 26 cars. The property lends
itself to commercial refurbishment or residential re - development, subject to
planning consent.
Building
Ground Floor 192 sqm (2, 067 sqft)
First Floor 156 sqm (1, 678 sqft)
Second Floor 59 sqm (632 sqft)
Total 407 sqm (4, 377 sqft)
Rear Land 779 sqm (932 sqyds)
All references to areas and dimensions are deemed to be approximate.
Services
We are advised that mains water, electricity, and drainage are connected to
the property. No warranty is given regarding the working order of any
appliances or services referred to in these particulars.
Tenure
We are advised the property is freehold.
Occupational Agreement
The land at the rear is let on individual parking licences with a potential
income of around £13, 000 per annum.
Rates
55 - 57 Castlegate
Description in list: Shop & Premises
Rateable Value: £10, 000
The property qualifies for 100% small business rates relief.
Fixtures & Fittings
Any items in the nature of fixtures and fittings not referred to in these
particulars are excluded.
Planning
Prospective purchasers or tenants should satisfy themselves that their
proposed use complies with all planning regulations by making inquiries with
the local planning authority.

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