Retail premises for sale

48 50 54-56 Pow Street, Workington, Cumbria CA14

Description

Investment Highlights:
Prominent town centre location
Current rental income: £22,750 per annum exclusive

48,50 and 54-56 Pow Street comprise three freehold mid-terraced buildings forming part of a retail parade.

48 Pow Street comprises a two-storey, rectangular-shaped retail unit. Internally, the ground floor is an open-plan sales area and office to the rear. The first floor has internal storage, a kitchen, and WCs.

50 Pow Street is a two-storey unit laid out to the ground floor with a good-sized sales area with WC to the rear. The first floor provides a useful ancillary staff break room, office space, stock storage and staff WC.

54-56 comprises a two-storey corner unit laid out to ground floor sales with ancillary staff and storage accommodation. The first floor provides further storage.

Location

Workington is the administrative centre for Allerdale Borough with a resident population of around 26,000, and an estimated catchment of 76,000. Workington is connected to Cockermouth and North Cumbria by the A595, and is approximately 1 hour from the City of Carlisle, which provides access to the M6 motorway and the West Coast Main Line. The town sits north of Whitehaven. Current developments within Workington include a new large office building within the town centre and the proposed sports village.

The block of properties lies in a prominent trading location on Pow Street, one of the main retail pitches in Workington town centre. Nearby occupiers include Marks & Spencer, tui, Sports Direct, Iceland, and British Heart Foundation. Tk Maxx and Loungers within the nearby Washington Square Shopping Centre have created a demand for a stronger presence in town.

Accommodation

This property has been measured and extends to the following approximate areas:

Terms

Offers in the region of £295,000 are invited for the freehold investment.

Services

Services
48 Pow Street
We understand mains water, drainage, and electricity is connected.

50 Pow Street
We understand mains water, drainage, electricity and gas is connected.

54-56 Pow Street
We understand mains water, drainage, and electricity is connected.

Business Rates

The Valuation Office Agency website describes the 2026 Rateable Values for the properties as follows:

48 Pow Street: Shop and premise; rv £12,500
50 Pow Street: Shop and premises; rv £13,750
54-56 Pow Street; Shop and premises; rv £13,750

The Small Business rhl Non-Domestic Rate multiplier for the 2026/27 rate year is 38.2p in the £.

Planning

We understand the property holds planning permission under Use Class E for each unit but may be suitable for other uses subject to obtaining all necessary consents. Interested parties should contact the Local Authority for planning enquiries.

EPC

48 Pow Street; e-104
50 Pow Street; c-61
54-56 Pow Street; does not currently hold an EPC, one is being commissioned and will be made available shortly.

VAT

We understand VAT is payable on the purchase price.