Available
Penrith – Retail Shop
5 Cornmarket, Penrith, Cumbria CA11 7DAVirtual Freehold Retail Investment
Investment Consideration
- Vacant possession
- ERV: £8,500 p.a. GIY: 10.00%
- Comprises ground floor retail shop with rear exit and ancillary accommodation at basement
- Suitable for variety of uses (Class E)
- Situated in the heart of Penrith, with occupiers nearby including Domino’s, Betfred, Vision Express and more.
Key Features
Tenure
Leasehold
VAT
VAT is not applicable.
Property Description
Comprises ground floor retail shop, suitable for variety of uses (Class E), providing the following accommodation and dimensions:
Ground Floor: 40 sq m (430 sq ft)
open plan retail, storage, kitchenette, wc
Ground Floor: 40 sq m (430 sq ft)
open plan retail, storage, kitchenette, wc
Tenancy Description
Tenure:
Long leasehold. To be held on a 999 year lease from completion at a ground rent of peppercorn.
Long leasehold. To be held on a 999 year lease from completion at a ground rent of peppercorn.
Location Description
Penrith is a popular market town on the fringe of the Lake District National Park adjacent to junction 40 of the M6 motorway, and the A66 Trans Pennine Trunk Road interchange; has a railway station serving the main West Coast Line between London and Scotland. The town is 20 miles south of Carlisle and 28 miles north of Kendal, the nearest competitive retail centres. Penrith has a resident population circa 16,000 with a local authority catchment in the region of 50,000. Cornmarket has a good trading position in the town and benefits from a range of national occupiers having a presence in the immediate vicinity including Domino’s, Betfred and Vision Express. For identification purposes only the property is shown circled blue on the location plan attached overleaf.