Under Offer
Whitehaven – Retail Premises
81/82 King Street, Whitehaven CA28 7LEFreehold Retail Investment
Price
£80,000
Rent P.A.
£8,000
Yield
10.00%
Tenure
Freehold
Lease Term
6 Years 11 Months
Years Left on Lease
5y 10m
Area
1,620 SQ FT
VAT Applicable
No
Sector
Investment Consideration
- Comprises ground floor corner retail premises with ancillary accommodation at basement
- Suitable for variety of uses (Class E)
- Listed building, business rates exempt while vacant
- Located in the heart of the town centre next to Whitehaven Marina with occupiers nearby including Halifax, Subway, Cinema, Hotels and many more.
Tenure
Freehold
VAT
VAT is not applicable.
Property Description
The property comprises extensively refurbished ground floor shop with ancillary accommodation at basement, providing the following accommodation and dimensions:
Ground Floor: 88 sq m (949 sq ft)
Open plan retail, Kitchenette, WC
Basement: 62 sq m (671 sq ft)
Ancillary
Note – the upper parts of the building do not form part of the sale and are in alternative ownership comprising a flying freehold aspect.
Ground Floor: 88 sq m (949 sq ft)
Open plan retail, Kitchenette, WC
Basement: 62 sq m (671 sq ft)
Ancillary
Note – the upper parts of the building do not form part of the sale and are in alternative ownership comprising a flying freehold aspect.
Tenancy Description
The property is at present let to an Individual for a term of 6 Years 11 Months from 22nd September 2023 at a current rent of £8,000 p.a. and the lease contains full repairing and insuring covenants. Rent review in September 2026 open market upward only. Tenant option to determine in March 2025 with minimum 6 month`s notice. Deposit held of £2,000. Lease within Landlord & Tenant Act 1954
Tenancies & Accommodation
Location Description
Whitehaven is equidistant between Carlisle and Barrow-in-Furness and serves as a retail, service and employment centre to the outlying rural areas. The A595 lies parallel to the town which leads in turn to the M6 at both Carlisle and Kendal. The property is situated in the heart of the town centre next to Whitehaven Marina with occupiers nearby including Halifax, Subway, Cinema, Hotels and many more,