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West Lane, Penrith

North East

£395,000
Listed on 29/10/2025

Property Details

Bedrooms
N/A
Type
Detached house

Description

This property presents a significant development opportunity situated in the bustling heart of Penrith. Formerly known as the BBC Club, the site boasts approved planning permission for an extra care residential scheme that encompasses 28 individual units across three levels. The design primarily includes one-bedroom units, complemented by a selection of two-bedroom apartments and shared communal spaces, catering to modern living needs. Granted in 2014 and confirmed as extant following condition discharges in 2017, this planning permission remains valid and can be readily pursued. Notably, the current owners have taken proactive steps by installing drainage on site, further facilitating potential future development. The location is highly advantageous; positioned just a short distance from the lively New Squares area, residents will enjoy easy access to a diverse range of local amenities. These include shops, restaurants, cafes, schools, healthcare facilities such as a doctor's surgery and hospital, as well as transport links including a train station. Furthermore, the property benefits from its proximity to major routes like the M6 and A66, with the stunning landscapes of the Lake District National Park only a brief drive away. This property not only offers immediate potential but also invites investors and developers to capitalize on its strategic location and existing planning permissions to create a vibrant residential community tailored to meet contemporary needs.

Investment Analysis

(CA11 area)
Area Average
£251/sq ft

Renovation Potential

Heavy Refurb
Est. Renovation Cost
£800,000 - £1,200,000
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
27
Average per month
Market Turnover
48%
Properties sold annually

Local Market Trend (CA11)

Area prices are stable by -1.9% over the last 12 months
3 year growth: -2.1%
5 year growth: +7.3%
Investment Disclaimer: Analysis based on CA11 area averages and may not reflect property-specific factors like condition, exact location, or unique features. Any renovation cost estimates provided are AI-generated and should be considered indicative only. Renovation costs vary significantly based on property condition and scope of work. Always conduct professional surveys and get multiple quotes before making investment decisions.

Location

West Lane, Penrith
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Mortgage Calculator

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£
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years

Current average 2-year fixed rate is 4.06%

Current average variable rate is 6.81%

Monthly Repayments
£1,425
Based on a loan of £296,250 over 30 years at 4.06% interest

These results are estimates and are only intended as a guide. Make sure you obtain accurate figures from your lender before committing to any mortgage. Your home may be repossessed if you do not keep up repayments on a mortgage.

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