74 Main Street, Keswick, Cumbria, CA12 5DX
Offers in Excess of£220,000
Keswick is situated within the northern region of the Lake District National Park. It is 31 miles from Carlisle, 30 miles from Kendal and 18 miles from Penrith, each of which provides access onto the national motorway and railway networks.
The town has a resident population of approximately 5000. It is a tourism hub and specialist retail destination where the population increases exponentially during the season to create a year-round trade to cater for the millions of annual visitors to the National Park.
The property is situated on Main Street which forms part of the Town’s prime retail shopping retail with No. 74 occupying a strong secondary retail pitch close to the junction of Main Street and Bank Street. It has a prominence to the high volume of traffic that passes slowly through Main Street every day. There is also good pedestrian flow due to its location between the prime retail area of the town, the bus station and Booths and Co-op Supermarkets. Nearby occupiers include Millets, Blacks, the Museum Square shopping centre and a host of local retailers.
The premises comprises a single storey, mid-terrace building in a street of similar properties. It has a traditional shopfront and is let in its entirety to Joy Bells, trading as Mrs F’s, a café. There is a mezzanine floor over the front section of the café.
The property is a period building with solid stone walls under a double pitched slate roof. At the rear of the property is a single storey extension within which is the kitchen of the café.
The property is held on a Freehold title and let in its entirety on a lease dated 5th November 2014 for a term of 10 years, without further reviews, to a local covenant. The lease is effectively a full repairing insuring terms with the Landlord responsible for maintaining the roof and roof timbers with all other aspects of repair an obligation of the tenant.
The roofs of which there are three, have all had extensive work on them in the last few years. The two flat roofs one at the rear over the food prep area and the other on the side over the takeaway portal and coffee prep area have been re-felted. Additionally, the slate roof was completely renovated with, where necessary, new slates and rafters provided. Additionally, the chimney was completely re-built complete with a liner in order that a wood burning stove could be installed,
The landlord insures the building, recovering the cost of the premium from the tenant.
Retail premises – 44.5 sq.m
Mezzanine floor – 21.4 sq.m
Total – 65.9 sq.m
Area ITZA – 42.02 sq.m
Offers are invited in the region of £220,000 exclusive for the freehold interest subject to the occupational lease. It should be noted that our client is not obliged to accept the highest or any offer. A sale at this level would produce a gross return of 7.73%.
All figures are quoted exclusive of VAT where applicable.
According to the Valuation Office Agency website, it is understood that the property has a Rateable Value of £14,500 and is described as a shop and premises.
Small Business Rate Relief may apply, and prospective purchasers should check the exact rates payable with Allerdale Borough Council – Tel: 01900 702702.
ENERGY PERFORMANCE CERTIFICATE
An EPC Certificate for the premise is being sought and will be available to download from the Edwin Thompson Website.
Each party to bear their own legal costs in the preparation and settlement of the sale documentation together with any VAT thereon.
ANTI-MONEY LAUNDERING REGULATIONS
The successful purchaser(s) should be aware that they will have to provide documents in relation to Money Laundering Regulations. Further details are available upon request.
The property is available to view by prior appointment with the Keswick Office of Edwin Thompson LLP.
Keith Mitchell – firstname.lastname@example.org
Tel: 017687 72988