We've tightened what earns a Pursue. A home now needs a published valuation, a strategy that still makes money after real running costs and lender stress tests, and no listing problems that would stop a mortgage. You'll see fewer Pursues, and each one has been checked harder.
See how verdicts work3-bedroom house · CA11 7JD
Listing removedListed 197 days
Opportunity summary
See Archie’s verdict, returns by strategy and what to check before viewing.
About
At the top of Castlegate, conveniently positioned in the town centre and with easy access to the railway station, this traditional sandstone cottage, originally a pub, has a feel of space and comfort.
The accommodation comprises; Vestibule, Living Room, Kitchen, Rear Lobby, Landing, 3 Bedrooms and a First Floor Bathroom.
There is a right of access to a path across the rear of the cottage leading to a single store lean to store, which also acts as a laundry cupboard.
The property does have the benefit of uPVC Double Glazing and Gas Central Heating via a Condensing Combi Boiler. Please note, there is "spray foam insulation" in the roof.
This can cause problems with borrowing, therefore this property is most suited to a cash buyer.
Location - From the centre of Penrith, head up Castlegate, number 40 is at the top of the hill on the right.
Amenities - Penrith is a popular market town on the edge of the Lake District National Park, having excellent transport links through the M6, A66, A6 and the main West coast railway line.
There is a population of around 17,000 people and facilities include: infant, junior and secondary schools. There are 5 supermarkets and a good range of locally owned and national high street shops.
Leisure facilities include: a leisure centre with; swimming pool, climbing wall, indoor bowling, badminton courts and a fitness centre as well as; golf, rugby and cricket clubs.
There is also a 3 screen cinema and Penrith Playhouse.
Penrith is known as the Gateway to the North Lakes and is conveniently situated for Ullswater and access to the fells as well as the beautiful Eden Valley, benefiting from the superb outdoor recreation opportunities.
Services - Mains water, drainage, gas and electricity are connected to the property. Tenure Freehold - The property is freehold and the council tax is band A.
Viewing - STRICTLY BY APPOINTMENT WITH WILKES-GREEN + HILL Referal Fees - WGH work with the following provider for arrangement of mortgage & other products/insurances, however you are under no obligation to use their services and may wish to compare them against other providers.
Should you choose to utilise them WGH will receive a referral fee : Fisher Financial, Carlisle The Right Advice (Bulman Pollard) Carlisle Average referral fee earned in 2024 was £253.00 Anti Money Laundering Requirements - In line with The Money Laundering, Terrorist Financing and Transfer of Funds (information on the Payer) Regulations 2017, as a regulated profession, we are duty bound to carry out due diligence on all of our clients to confirm their identity.
Rather than traditional methods in which you would have to produce multiple utility bills and a photographic ID we use an electronic verification system.
This system allows us to verify you from basic details using electronic data, however it is not a credit check of any kind so will have no effect on you or your credit history.
To do so the Credit Referencing Agencies may check the details you supply against any particulars on any database (public or otherwise) to which they have access.
They may also use your details in the future to assist other companies for verification purposes. A record of the search will be retained.
A of (£24 inc VAT) per purchaser will be charged to cover the costs associated with fulfilling our obligations under the act.
A link will be sent to your mobile to enable you to make the payment and thereafter the biometric check.
Accommodation - Entrance - Through a composite security door to the: Vestibule - A part glazed pine panelled door opens to the: Living Room - 5.46m x 4.95m (17'11 x 16'3) - Having a fireplace for a gas fire, a double radiator, a TV aerial lead and a uPVC double glazed window to the front.
A panel door opens to the rear lobby and a sliding panelled door opens to the: Kitchen - 4.47m x 3.15m (14'8 x 10'4) - Fitted to two sides with wood fronted base units and a marble effect work surface incorporating a one and a half bowl single drainer sink with mixer tap and there is space for a gas cooker.
The floor is quarry tiled, there is a beam to the ceiling, a double radiator and a uPVC double glazed window to the front. A sliding panel door opens to the stairs.
Rear Lobby - A panel door opens to the under stairs cupboard and a part glazed door opens to the rear.
First Floor-Landing - The floorboards are painted, there is a radiator and a ceiling trap to the loft.
A built-in airing cupboard also houses a Worcester gas fired condensing combi boiler providing the hot water and central heating and there is an electric heated towel rail.
Bedroom One - 4.57mx 3.12m (15'x 10'3) - The floorboards are painted, there is a double radiator and a uPVC double glazed window to the front. There is a recessed cupboard above the stair head.
Bedroom Two - 3.66m 0.30m x2.49m (12' 1 x8'2) - Having a double radiator and a uPVC double glazed window to the front.
Bedroom Three - 3.66m x 2.44m (12' x 8') - There is a feature cast on fireplace, a double radiator and a uPVC double glazed window to the front.
Bathroom - 1.75m x 2.41m max (5'9 x 7'11 max) - Fitted with a toilet, a wash basin with cupboard below and a panelled bath with centre mounted taps.
There is a double radiator and a uPVC double glazed window to the rear.
To the side of the cottage a door opens to a passage which allows access to the rear there there is a block pave path across the back of the cottage leading to the back door and the; Adjoining Store - Having light, power point and plumbing for a washing machine
Value & comps
No previous sales on record.
Returns
Set an offer; the calculator follows it.
We're still gathering serviced-accommodation data for this area.
Archie refurb estimate: a Pro feature
0.0% below asking
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Deal
Properties like this can earn 2–3x BTL yields when converted to HMO, with retrofit costs around £10k/room. Sign in to see the full tier, yield projection, and cost breakdown.
Commercial properties like this can earn 30-50% higher yields when converted to residential under Class MA / Q / P / PA, with prior approval costing ~GBP 96/unit. Sign in to see the recommended route, yield uplift, and cost breakdown.
BRRR-suited properties can recycle 80-100% of investor capital on refi, leaving a high-yielding rental with most of the money out. Sign in to see the refurb cost stack, ARV projection, and refinance maths.
Detached + large garden = sub-division play. Pro tier unlocks the tier badge, plot size, uplift estimate, and regional land benchmark.
Short-lease flats trade at deep discount, but extending under the 1993 Act often costs far less than the discount. Pro tier unlocks the tier badge, premium breakdown, long-lease ARV and arbitrage maths.
See projected short-stay revenue vs a vanilla BTL for this property.
See real sub-let margins (HMO room rates & SA nightly rates) vs the landlord rent.
Area
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FAQ
About Castlegate, Penrith
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