9 Oxford Street, Workington, Cumbria, CA14

Property Details: • Type: 538 sq ft • Tenure: N/A • Floor Area: N/A

Key Features:

Location: • Nearest Station: Workington Station • Distance to Station: 0.3 miles

Agent Information: • Address: 54 Welbeck Street, London W1G 9XS

Full Description: Investment Consideration: Gross Initial Yield: 8.00% Rental Income: £4,800 p.a. Shop under rented. ERV: £6,000 p.a. GIY: 10.00% VAT is NOT applicable to this property 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.

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

Tenancy: 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.

Location: 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.