Available
Penrith – Barber Shop
5 Cornmarket, Penrith, Cumbria CA11 7DAVirtual Freehold Retail Investment
Price
£85,000
Rent P.A.
£8,000
Yield
9.41%
Tenure
Leasehold
Lease Term
3 Years
Years Left on Lease
2y 11m
Area
430 SQ FT
VAT Applicable
No
Sector
Investment Consideration
- Comprises ground floor retail shop with rear exit and ancillary accommodation at basement
- 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 t/a Barber`s, 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
The property is at present let to an Individual t/a Barber`s for a term of 3 Years from 2nd January 2025 at a current rent of £8,000 p.a. and the lease contains full repairing and insuring covenants. No breaks. Deposit held of £2,000.
Tenure:
Long leasehold. To be held on a 999 year lease from completion at a ground rent of peppercorn.
Tenure:
Long leasehold. To be held on a 999 year lease from completion at a ground rent of peppercorn.
Tenancies & Accommodation
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.