48 Main Street, Keswick, Cumbria, CA12 5JJ

48 Main Street, Keswick, Cumbria, CA12 5JJ

Guide Price£1,575,000

LOCATION
48 Main Street is a landmark building, prominently located in a prime retail pitch in the central pedestrianised area of Keswick, a thriving market town in the northern region of the Lake District National Park. The Town lies around 17 miles to the west of Penrith and 28 miles South West of Carlisle and is a bustling tourist destination with a seasonally fluctuating population.

Keswick is one of the ‘honey-pot’ towns of the Lake District and is busy throughout the year during an increasingly long season and has an excellent range of local, regional and national occupiers including Cotswold Outdoor, Holland & Barrett, WH Smiths, Cornish Bakery, Boots and the renowned outdoor clothing specialist George Fisher. The retail vacancy rate is around 1%.

DESCRIPTION
The building is of traditional stone and slate construction arranged over three floors. The ground floor, and part of the first floor, is retail and the apartment is set over the remainder of the first floor and second floor.

The investment comprises four retail units and one residential unit and represents a rare opportunity to purchase an investment of this size within the town. The two principal retail units are let, with the remainder offered with vacant possession on completion.

ACCOMMODATION

48 Main Street Ground floor retail 120 sq.m
First Floor retail and ancillary 78.69 sq.m

48a Main Street Ground floor retail 11.78 sq.m

4 Bank Street Ground floor retail 52.56 sq.m

4a Bank Street First and second floor residential
modern self-contained 3 bedroom,
2 bathroom apartment over two floors. 122 sq.m.

4b Bank Street Ground floor retail 32.61 sq.m

TENURE
Freehold.

PRICE
Offers in the region of £1,575,000 (One Million Five Hundred and Seventy Five Thousand pounds).

TENANCIES
48 Main Street
Let: Occupied by Alpkit Limited.
Term: 10 years from 1st February 2016 on FRI terms.
Annual Rent: £65,000 without further review.

48a Main Street
Sold with vacant possession

4 Bank Street
Let: Occupied by Post Office
Term: 10 years from 9th July 2014.
Annual Rent: £25,000

4a Bank Street (Residential)
Sold with vacant possession
Market Rent estimate: £9,600 per annum (AST)
(Income would be much higher if holiday let).

4b Bank Street
Sold with vacant possession
Rents receivable: £90,000 per annum.
ERV £115,600 per annum.

SERVICES
All mains services are connected/available to the property.

VALUATION LIST 2017 RATEABLE VALUES
48 Main Street – £42,250
48b Main Street – £6,400
4 Bank Street – £7,000
4a Bank Street – Council Tax band B
4b Bank Street – £7,800

EPC
Energy performance certificates are available to download.

COSTS
Each party will bear their own costs incurred in the transaction.

VAT
VAT is not applicable.

VIEWINGS
The property is available to view by prior appointment through the Keswick office of Edwin Thompson LLP.
Contact: Keith Mitchell – k.mitchell@edwin-thompson.co.uk
Tel: 017687 72988
Website: www.edwin-thompson.co.uk

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    Quick Summary

    Price £1,575,000
    Town/City Keswick
    Status Under Offer
    Size (Acres)