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Castlegate Mews, Penrith, Cumbria
For saleReduced 7 Jul 2026
£120,000Guide price

Castlegate Mews, Penrith, Cumbria, CA11 7JA

2bedrooms
1bathroom
Terracedtype
560sq ft
Freeholdtenure

Listed 22 Apr 2026 · price reduced 7 Jul 2026 · Penrith

How the price compares

This home£120,000£214 per sq ft
Median 2 bed in CA11£145k26 homes listed · £212 per sq ft
Difference-17%below the area median

Key features

  • Freehold investment property
  • Attractive net yield of 7.95%
  • Tenanted and income-producing from day one
  • Management in place – fully hands-off opportunity
  • Excellent transport links via M6 and West Coast Main Line

About this home

This well-presented 2-bedroom freehold terrace property in Cumbria offers an excellent turnkey investment opportunity at an attractive entry price point. Priced at £130,000 and with management already in place, the asset is ideally suited for hands-off investors seeking immediate, hassle-free income.

The property is currently let at £795 per calendar month, generating an annual rental income of £9,540. This reflects a strong NET yield of 7.95%, offering a solid return in a stable rental market.

The accommodation comprises two well-proportioned bedrooms and additionally benefits from a dedicated utility room, enhancing practicality for tenants and adding to its overall appeal. Its low-maintenance nature and established tenancy further strengthen its investment credentials.

Located in Penrith, the property benefits from a reliable rental market supported by local employment, tourism, and strong transport links. Positioned on the edge of the Lake District National Park, the town attracts a steady flow of residents and visitors alike. Penrith also provides excellent connectivity via the M6 and West Coast Main Line, making it a practical base for commuters.

A wide range of local amenities, including shops, leisure facilities, and schools, are all within easy reach, helping to sustain long-term tenant demand. With freehold tenure, management in place, and immediate rental income, this is a straightforward, income-producing investment in a resilient regional location.

EPC - C

LET PURE INVESTOR TAKE THE STRAIN AWAY …

We offer a comprehensive lettings and property management service, ensuring our landlords benefit from a single point of contact for their entire portfolio. From London to Lancaster, from Cardiff to Colchester, we provide a fully managed service for landlords looking to minimise costs and maximise efficiency.

Fully managed lettings and property management service Comprehensive coverage throughout England and Wales One team, one fee across your full portfolio Rental income protection available Transfer your existing properties quickly and easily If you would like to find out more about our lettings and property management service, or discover how much we could save you each month, please contact our team

Property details

Property type
Terraced
Size
560 sq ft / 52 sq m
Tenure
Freehold
Accessibility
Ground floor

Floorplan

Floorplan 1

Location

Skip map

1 on this map

  • Penrith Station0.1 mi
  • Langwathby Station4.2 mi

What nearby homes sold for

Median sold prices in CA11 over the last 12 months: semi-detached £245k · detached £377k · terraced £180k · flat £137k.

Contains HM Land Registry data © Crown copyright and database right 2026. Licensed under the Open Government Licence v3.0. All sales in CA11

Buying costs

Monthly repayment£600£12,000 deposit · £108,000 loan
Stamp Duty£0England rates

Estimates only, using rates in force from April 2025. Check GOV.UK, Revenue Scotland or the Welsh Revenue Authority and speak to a mortgage adviser before you offer.

Listed by Pure, Manchester on Rightmove (original listing). First listed 22 Apr 2026; details checked 7 Nov 2026. Latest change: reduced on 07/07/2026.

Agent disclaimer

Disclaimer - Property reference 2-castlegate. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Pure, Manchester. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.

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