Available
Workington – Desert Parlour
9 Oxford Street, Workington, Cumbria CA14 2ALVirtual Freehold Retail Investment
Price
£60,000
Rent P.A.
£4,800
Yield
8.00%
Tenure
Leasehold
Lease Term
5 Years
Years Left on Lease
3y 8m
Area
538 SQ FT
VAT Applicable
No
Sector
Investment Consideration
- Shop under rented. ERV: £6,000 p.a. GIY: 10.00%
- Comprises ground floor retail shop t/a deserts parlour
- Situated on a main arterial route within short distance from the pedestrianised area of Pow Street, Washington Square and Ivison Lane
- Occupiers close by include Peacocks, Holland & Barrett, Lloyds Bank, Superdrug, Argos, Savers and Specsavers amongst others.
Key Features
Tenure
Leasehold
VAT
VAT is not applicable.
Property Description
Comprises ground floor shop (Class E), providing the following accommodation and dimensions:
Ground Floor: 50 sq m (538 sq ft)
open plan retail, storage, kitchen, wc
Ground Floor: 50 sq m (538 sq ft)
open plan retail, storage, kitchen, wc
Tenancy Description
The shop is at present let to an Individual for a term of 5 Years from 1st September 2023 at a current rent of £4,800 p.a. and the lease contains full repairing and insuring covenants. Rent review in September 2026 open market upward only. Tenant option to determine at any time with minimum 3 months notice. Deposit held of £400. Shop under rented. ERV: £6,000 p.a.
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
Workington, with a population of some 25,000, is located on the Cumbrian coast and is served by the A66 and A596. Carlisle is some 35 miles north-east, Whitehaven 8 miles to the south, whilst Penrith and the M6 Motorway (Junction 40) are 40 miles to the east. The property is situated on a main arterial route within short distance from the pedestrianised area of Pow Street, Washington Square and Ivison Lane. Occupiers close by include Peacocks, Holland & Barrett, Lloyds Bank, Superdrug, Argos, Savers and Specsavers amongst others.
