Investment Properties for sale in Penrith

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RETAIL INVESTMENT PROPERTY IN PENRITH, CUMBRIA

Penrith, Cumbria, England

  • Freehold Price: £180,000
Seller Reference: MA1221
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Business Description
 
 
 
 
 
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Seller Reference: MA1221
Request Details
Business Description
• Ground floor shop and self contained one bedroom flat
• Shop let on lease at rent of £10,500 per annum
• Charming pedestrianised town centre street
• Edge of Lake District market town
• Investment opportunity with additional potential income of £425 pcm from flat

Location
Penrith is a market town located on the north east fringe of the Lake District with a population of around 16,000 and catchment population of around 45,000. It has excellent transport links being at the junction of the M6 motorway and the A66 trans-Pennine trunk road and has a Station on the west coast main line linking London and Glasgow. Major retailers in the town include Argos, Morrison’s, B & Q, Booths, Sainsbury’s, Aldi, W H Smith, Boots and Sports Direct. The property is well situated along a pedestrian shopping street within the main town centre shopping area.

Description
The property comprises a terrace stone building with a ground floor shop, stores and one bedroom first floor flat.

Accommodation & Floor Areas
SHOP

Ground Floor
Shop Sales 61.5 sqm (662 sqft)
Store 20.2 sqm (76 sqft)
WC

First Floor
Staff Room 11.5 sqm (124 sqft)
Office/ Store 9.6 sqm (103 sqft)

FLAT
Accessed via side passage and rear external stone stairs and having upvc windows and electric panel heaters.

Hall
Kitchen (2.56m x 2.31m) with wall and base units, sink unit and cupboard with immersion heater.
Living Room (3.07m x 2.89m).
Bedroom (3.09m x 3.30m).
Bathroom with bath, wc and wash hand basin.

All references to areas and dimensions are deemed to be approximate.

Services
We are advised that mains water, electricity, gas and drainage are connected to the property. No warranty is given regarding the working order of any appliances or services referred to in these particulars.

Tenure
We are advised the property is freehold.

Occupational Agreement
The Shop is let to I Macnish & Z Anderson trading as Eden Eye Care on a Law Society Lease (Part of Building) for a term of 3 years from 1 May 2020 at a rent of £10,500 per annum exclusive A copy of the lease is available on request.

The Flat is currently vacant but has recently been let at £425 per calendar month.

Rates
Description in list: Shop & Premises
Rateable Value: £9,500
Council Tax: Band A

The property qualifies for 100% small business rates relief.

Fixtures & Fittings
Any items in the nature of fixtures and fittings not referred to in these particulars are excluded.

Planning
Prospective purchasers or tenants should satisfy themselves that their proposed use complies with all planning regulations by making inquiries with the local planning authority.

Vat & Stamp Duty
All reference to price, premium or rent are deemed to be exclusive of VAT unless expressly stated otherwise. Stamp duty is liable at the prevailing rates.

Finance
If you require financial assistance, we can refer you to a local professional who can advise on sources of finance and prepare a business plan which most lenders now require.
Tenure:
Freehold
Location Details:
RETAIL INVESTMENT PROPERTY
Listed by:
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