Enterprise House, Penrith 40 Business Park, Gillan Way, Penrith, Cumbria CA11 9BP

Enterprise House, Penrith 40 Business Park, Gillan Way, Penrith, Cumbria CA11 9BP

£525,000


Quick Summary

Price £525,000
City Penrith
Status New
Size (Acres)
Beds
Bathroom
Garden
Parking Spaces
Period

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Contact

Carlisle Office
01228 548385

LOCATION

The subject property is located on Penrith 40 Business Park, Gillan Way just off Junction 40 of the M6 motorway on the north western outskirts of Penrith, Cumbria in the North West of England.

Penrith is an attractive and affluent market town situated on the north east fringe of the Lake District. It is well located being on Junction 40 of the M6 providing direct access north and south and to the A66 which leads west to the Lake District National Park and east to Scotch Corner and the A1(M).

Penrith has a resident population of approximately 15,000 (2011 Census) and is located within Eden District with a District population of over 51,000. Carlisle is approximately 20 miles to the north, Kendal 32 miles to the south and Keswick 18 miles to the west. Penrith has a train station on the main West Coast Line with direct services north to Carlisle and Glasgow and south to London Euston with a journey time of around 3 hours.

Gillan Way is just off Haweswater Road connecting directly to the A592 and the M6 Junction 40/A66 interchange. Other occupiers on the estate include NFU, Burnetts Solicitors, Cumbrian Homes, David Allen Accountants and The Environment Agency.

DESCRIPTION

Enterprise House is a modern detached two storey office building and is faced in a red stone underneath a new pitched profile sheet roof incorporating aluminium framed double glazed windows and a double height glazed central façade. The property offers contemporary and well fitted office accommodation on ground and first floors.

Handelsbanken occupy the ground floor and have fitted their offices to a high standard. Internally, the premises are arranged with a mixture of open plan offices and meeting rooms and have a fully fitted kitchen and staff room.

The common parts include:

• DDA compliant – lift
• Shared male, female, disabled WC’s and shower room
• Secure door entry and intercom

Externally, the property sits in landscaped gardens and there are 23 car parking spaces.

SERVICES

It is understood that the property has mains supplies of electricity, gas, water and is connected to the mains drainage and sewerage systems. The utilities are administered through the service charge.

ACCOMMODATION

The premises provide the following approximate net internal measurements:

Ground Floor 208.75 sq m (2,247 sq ft)
First Floor 249.63 sq m (2,687 sq ft)

Total Net Internal Floor Area 458.37 sq m (4,934 sq ft)

TENANCY DETAILS
The ground floor is let to Handelsbanken on an underlease expiring 5 March 2022 at a current rent passing of £22,470 per annum exclusive. The lease contains Full Repairing and Insuring terms via a service charge.

TENANCY INFORMATION
Svenska Handelsbanken AB is a Swedish bank providing universal banking including traditional corporate transactions, investment banking and trading as well as consumer banking including life insurance. Handelsbanken is one of the major banks in Sweden with over 460 branches and was founded in 1871.
Since the mid 1990s Handelsbanken has been expanding its universal banking operations into the other Nordic countries, and also in the United Kingdom, the Netherlands, Latvia, Estonia and Lithuania. The largest of these is in Britain where, as of April 2016, it has 207 branches.

On 1 December 2018, Handelsbanken transferred its UK business into a new, wholley-owned subsidiary of it’s main Swedish Company, Svenska Handelsbanken. Handelsbanken Plc became a fully authorised UK bank strengthening their foundations for future growth and showing their ongoing commitment to offering local relationship banking in communities across the UK.
Handelsbanken’s credit rating is top of global banks. No other bank in the world has a higher rating than Handelsbanken in terms of bank ratings from Fitch, Moody’s and Standard and Poors.

TENURE
The property is held freehold with the extent shown red on the attached plan.

PROPOSAL

Offers are invited of in excess of £525,000, exclusive.  This reflects a potential gross yield of 9.04% upon the letting of the vacant suite.

VAT

All figures quoted are exclusive of VAT where applicable.

RATEABLE VALUE

It is understood from the VOA website that the premises have the following Rateable Values:
Ground Floor £21,750
First Floor £23,000

ENERGY PERFORMANCE CERTIFICATE

The property has an Energy Performance Asset Rating of C62 and a copy of the Energy Performance Certificate is available upon request.

LEGAL COSTS

Each party to bear their own legal costs in the preparation and settlement of the sale documentation together with any VAT thereon.

VIEWING

The property is available to view by prior appointment with the Carlisle office of Edwin Thompson LLP. Contact:

John Haley – [email protected]

Suzie Barron – [email protected]

Tel: 01228 548385
www.edwin-thompson.co.uk

IMPORTANT NOTICE

Edwin Thompson for themselves and for the Vendor of this property, whose Agents they are, give notice that:
1. The particulars are set out as a general outline only for the guidance of intending purchasers and do not constitute, nor constitute part of, any offer or contract.
2. All descriptions, dimensions, plans, reference to condition and necessary conditions for use and occupation and other details are given in good faith and are believed to be correct, but any intending purchasers should not rely on them as statements or representations of fact, but must satisfy themselves by inspection or otherwise as to their correctness.
3. No person in the employment of Edwin Thompson has any authority to make or give any representation or warranty whatsoever in relation to this property or these particulars, nor to enter into any contract relating to the property on behalf of the Agents, nor into any contract on behalf of the Vendor.
4. No responsibility can be accepted for loss or expense incurred in viewing the property or in any other way in the event of the property being sold or withdrawn.
5. These particulars were prepared in June 2019.

Modern and well-located office investment on one of Penrith’s main business parks adjacent to Junction 40 of the M6
Total Net Internal Area of 458.37 sq m (4,934 sq ft)
Ground floor let to Handelsbanken expiring 5 March 2022 at a rental of £22,470 per annum exclusive
First floor offices currently on the market to let at a rental of £25,000 per annum exclusive
Offers invited in excess of £525,000 exclusive equating to low capital value rate of £107 per sq ft

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