7 bed block of flats for sale

1-3 Market Place, Workington, Cumberland CA14

For sale by Online Auction - 28th ofMay 2026

Prime Residential Investment Opportunity Fully Let Block of 6 Flats

An exceptionally rare opportunity to acquire a fully tenanted block of six self-contained flats, ideally located in the historic town of Workington, on the edge of the Lake District.

Investment Highlights
Fully let investment with all units secured on 6-year 11-month Full Repairing and Insuring (Fri) leases, including maintenance and bills
Immediate, hands-off income with long-term tenancy agreements in place
Recently refurbished (June 2024) to a high standard throughout
All furniture, fixtures, and white goods included in the sale
Refurbishment & Specification

The entire building underwent a comprehensive renovation prior to handover, including:

Full electrical rewire
New integrated fire safety system
Intercom access installed in each flat
Brand-new kitchens and bathrooms
Full redecoration throughout
New carpet flooring in all flats
Durable industrial laminate flooring in communal areas
Asset Value & Growth Potential
Valued at £500,000 (May 2024) prior to lease agreements
Projected commercial valuation: £606,000 (February 2026)
Offered below market value, presenting a strong yield and potential for a money-out" investment strategy
Tenure & Flexibility
Freehold ownership
Potential to split into individual leasehold titles for future resale or asset optimisation
Accommodation Overview

1 Market Place Entrance

Ground Floor

Communal entrance hall with staircase and rear fire exit
Flat 1:
1 bedroom
Large open-plan living/dining/kitchen area
1 bathroom

First Floor

Flats 2 & 3 (identical layouts):
Large bedroom
Spacious reception/living room
Large kitchen
Bathroom

Second Floor

Flats 4 & 5 (identical layouts):
Large bedroom
Reception/living room
Large kitchen
Bathroom

3 Market Place Entrance

Flat 6:
2 bedrooms (1 double, 1 single)
Large reception room
Bathroom
Private access to hallway
Energy Performance
EPC ratings range from C to D across all units
Sale Details
Offered via auction
Next auction date: 28 May 2026
Pre-auction offers will be considered

This is a turnkey, income-generating asset in a desirable location, combining strong rental security with clear upside potential. Opportunities of this scale and readiness are seldom available.

Unconditional lot Buyers Premium Applies Upon the fall of the hammer, the Purchaser shall pay a 5% deposit and a 5%+VAT (subject to a minimum of £5,000+VAT) buyers premium and contracts are exchanged. The purchaser is legally bound to buy and the vendor is legally bound to sell the Property/Lot. The auction conditions require a full legal completion 28 days following the auction (unless otherwise stated).