Property Details: • Type: 430 sq ft • Tenure: N/A • Floor Area: N/A
Key Features:
Location: • Nearest Station: Penrith Station • Distance to Station: 0.2 miles
Agent Information: • Address: 54 Welbeck Street, London W1G 9XS
Full Description: Investment Consideration: Gross Initial Yield: 9.41% Rental Income: £8,000 p.a. VAT is NOT applicable to this property 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.
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
Tenancy: 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.
Location: 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.
