25a London Road, Carlisle CA1 2JZ

25a London Road, Carlisle CA1 2JZ

£175,000

LOCATION

The property is prominently located on the A6 London Road to the south east of Carlisle City Centre. The A6 London Road/Botchergate provides a vibrant mixed use area with a number of retail and leisure facilities within the immediate vicinity. The A6 provides direct access to Junction 42 of the M6 approximately 2.5 miles to the south east, Carlisle City Centre to the north and Carlisle Train Station is approximately just under 1 mile to the north east.

Carlisle is the regional capital and lies close to the Scottish Border and adjacent to Junctions 42, 43 and 44 of the M6 motorway. It is also based on the West Coast Main Line providing services between Glasgow and London Euston as well as being approximately 1 hour away from Newcastle Airport along the A69. The city has a population of 75,306 with a wider area population of 107,524 (2011 Census) and is a main administrative and retail centre for Cumbria.

The property is situated in a built up residential area with St Nicholas Gate Retail Park a short distance away which has commercial operators such as Asda, Iceland, Poundland, B&M Homestore and Halfords.

DESCRIPTION 

25a London Road is a mid-terrace retail premises, constructed over 2 levels in part with retail accommodation to the ground floor and storage / office accommodation to the first floor.

The ground and first floor is presently occupied by Domino’s and has a traditional shop front with glazed windows and pedestrian door which leads to a welcoming entrance takeaway area.  The ground floor has been fitted out by the tenant and is reflective of Domino’s high level corporate fit out.  There is also a front forecourt included with the property which is used for car parking.

There is a 2 storey brick built building to the rear which is currently not in use but has possible development potential subject to the necessary consents.

ACCOMMODATION 

The property provides the following approximate measurements;

Domino’s

Net Internal Area                                                        146.58m²         (1,577 sq ft)

Gross Internal Area                                                    160.91m²         (1,732 sq ft)

Rear 2 Storey Building

Gross Internal Area                                                    250.24m²         (2,693 sq ft)

Total Approximate Gross Internal Area                      411.15m²         (4,425 sq ft)     

TENURE 

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

TENANCY DETAILS

The retail unit is let to Domino’s on an existing Full Repairing & Insuring lease for a term of 20 years from 1 October 2004 and at a current rent passing of £13,000 per annum exclusive, subject to a 5 year rent review pattern.  Please note, the 2019 rent review is outstanding.

TENANCY INFORMATION 

Domino’s Pizza Inc, branded as Domino’s is an American multinational pizza restaurant chain founded in 1961.

Domino’s came to the UK in 1985 and today there are over 1,200 stores across the UK & Republic of Ireland and worldwide in over 17,000 locations.

As at 29 December 2019 group revenue for the UK & Republic of Ireland was £508.3 million and underlying profit before tax was £98.8 million.

The tenant is DP Reality Limited and the parent company is Domino’s Pizza Group Plc. 

VAT

All figures quoted are exclusive of VAT where applicable. 

RATEABLE VALUE

The VOA website states that 25a London Road has a Rateable Value of £11,250 and is described as a shop & premises.

ENERGY PERFORMANCE CERTIFICATE

It is understood that the commercial premises have an Energy Performance Asset Rating of D86.

Copies of the Energy Performance Certificates are available upon request.

PROPOSAL

The property is available at a guide price £175,000, exclusive.  This reflects an approximate gross yield of 8.00% on the retail investment and a capital sum for the separate building to the rear.

A copy of the lease can be viewed at our Carlisle office subject to prior appointment.

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:

Ruth Richardson – r.richardson@edwin-thompson.co.uk

Suzie Barron – s.barron@edwin-thompson.co.uk

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 February 2021.
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Quick Summary

Price £175,000
Town/City Carlisle
Status Under Offer
Size (Acres)