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About this property:

* LONG LEASEHOLD INVESTMENT FOR SALE *
* INVESTMENT HIGHLIGHTS *

-Prime town centre location in Penrith
-Passing rent: £20,500 per annum exclusive
-No VAT payable on sale price
-100% Business Rate Relief Attainable for Tenants

LOCATION
The subject property is in a prime position for Penrith town centre and lies on the intersection of Market Square and King Street.

Rear access is provided from St Andrews Churchyard.

DESCRIPTION OF UNITS
Unit 4 comprises a ground floor commercial shop unit let to a local covenant,
with an attractive glazed window frontage, currently operating as a café /
coffee shop. The unit has the benefit of a rectangular shape and integral
wc. The interior is modern and well fitted out.

Unit 5 also comprises a modern ground floor commercial shop unit let to a local covenant, with an attractive glazed window frontage, and is currently operating as a barber shop. The unit has the benefit of a rectangular shape recess access door and integral wc.

In the event of the units becoming vacant, due to their size, configuration and rates relief being attainable, they are likely to be attractive for similar uses and other local new start operators for re-occupation.

TENANCY SCHEDULE
4 Market Square
5 years from 1 November 2024; expiry 31 October 2029
Rent: £10,500
Rent Review in November 2027
Internal Repairing and Insuring Lease
Break Clause End of Year 3

5 Market Square
7 years from 24 July 2024; expiry 23 July 2031
Rent: £10,000
Rent Review in July 2027 and 2030
Internal Repairing and Insuring Lease
No Break Clause

SALE PRICE
The long leasehold investment is available
FOR SALE at a sale price of £275,000

VAT
No VAT is payable on the sale price.

Terms: Sale Price: £275,000
Size: 30.65 m² (330 ft²) - 31.08 m² (335 ft²)
Postcode: CA11 7AU
Ref:BB/7883