Main Street, 49/51, Ground Floor
Keswick
About this property:
* PRIME RETAIL INVESTMENT FOR SALE *
* LOCATED IN A STRONG TRADING POSITION *
* POPULAR LAKE DISTRICT TOWN *
* STRONG COVENANT STRENGTH *
TENANCY
FatFace is occupying the property under an effective FRI lease with effect from June 2023 for a term of 5 years, expiry in June 2028.
The passing rent is £88,000 per annum exclusive.
There is no tenant break included within the lease, and the rent is fixed until lease expiry.
* INVESTMENT HIGHLIGHTS *
Passing Rent £88,000 until June 2028
Prominent and Popular Lake District Town
Prime Trading Position
Let to Strong Covenant
ERV likely to be nearer £100,000 per annum
TENANT - FATFACE
FatFace, founded in 1988, is a well-known British lifestyle clothing brand specialising in casual wear, footwear, and accessories. The company operates around 178 stores across the UK, including a strong presence in Cumbria, with outlets in Keswick, Kendal, Bowness-on-Windermere, Ambleside and Kirkby Lonsdale.
In 2023, FatFace was acquired by Next plc, one of the UK’s largest and most financially robust fashion retailers, a FTSE-100 retail giant. For the fiscal year ending January 2025, Next’s total group sales rose by 8.2% to £6.32 billion.
This tenant represents a secure covenant underpinned by strong brand equity.
LOCATION
Keswick is one of the largest and main Lake District towns, drawing in visitors most of the year round.
DESCRIPTION
The extensive retail unit provides an attractive triple fronted shop front providing an extensive glazed frontage to Main Street with double personnel access doors and meets DDA requirements due to the street level access.
Internally, the accommodation provides a large open-plan sales area, which has been fitted out by the tenant, Fat Face.
The unit is relatively regular in shape. An integral staircase provides access to the first floor storage area and WC.
In addition, the unit benefits from an extensive storeroom area with rear access, staff ancillary areas and WCs at ground floor level also.
Given the size of unit and position along Main Street, in the event of the building becoming vacant, demand is likely to be high.
The space could lend itself to a variety of retailers including food and beverage operators.
ACCOMMODATION
Ground Floor 301 sq m (3,240 sq ft)
First Floor 68 sq m ( 732 sq ft)
SALE PRICE
The property is available FOR SALE as an investment with a sale price of £1,595,000.00
VAT
VAT is not payable on the sale price.
Terms: Sale Price: £1,595,000.00
Size: 3972.00 m² (42754 ft²)
Postcode: CA12 5DS
Ref:BB/7881
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