Station Street, 30Keswick
Investment for Sale - Retail
* LAKE DISTRICT LOCATION *
* RARE SALE & LEASEBACK INVESTMENT OPPORTUNITY *
* NO VAT PAYABLE ON THE SALE PRICE *
30 Station Street is a two-storey property located in a good secondary trading location, conveniently nestled between Main Street and Fitz Park. The building is well positioned at the top end of Station Street.
Surrounding occupiers include a mixture of national companies and well established local independent retailers who have traded from Keswick for years.
The ground floor comprises a self contained commercial unit currently operating as the Cumberland Building Society Branch.
The first-floor accommodation is a self-contained first floor holiday flat sitting immediately above the Cumberland branch. The space comprises an entrance hallway, two double bedrooms, kitchen/diner, separate WC and cleaning room and is fitted out to a good standard throughout.
ACCOMMODATION AND AREAS
Ground Floor - Cumberland Branch
Branch: 106.97 sq m (1,151 sq ft)
First Floor - Holiday Accommodation
Kitchen/Diner: 28.54 sq m ( 307 sq ft)
Bedroom Master: 17.99 sq m ( 194 sq ft)
Bedroom Twin: 14.25 sq m ( 153 sq ft)
Cleaning Room: 5.72 sq m ( 62 sq ft)
WC
TENURE AND TENANCIES
Ground Floor - Cumberland Branch
(currently owner occupied)
On sale completion, the vendor agrees to enter in to a new lease on the following terms: -
• Term – 20 years with effect from sale completion
• Rent - £20,000 per annum exclusive
• Breaks – End of Years 5, 10 and 15
• Rent Reviews – End of Years 5, 10 and 15
• Repair – IRI
First Floor - Holiday Accommodation
The holiday accommodation is managed by a third party. The average net income after management costs and services for the 2022 and 2023 years is approximately £13,500 per annum.
SALE PRICE
Offers in the region of £575,000 are invited for the sale and leaseback freehold investment. At completion, the current owners, the Cumberland Building Society, will enter into a new lease with effect from sale completion. Other details on the proposed lease are available from the agent.
The holiday let accommodation above will continue as is, but could be converted to alternative uses or other forms of residential, subject to planning and discussion with the Local Planning Authority.
VAT
We understand the property is not elected for VAT and therefore VAT is not payable on the sale price.
Terms: Sale Price: £575,000
Size: 173.47 m² (1867 ft²)
