1 Bed Retail Property (high Street) For Sale

LOCATION

Keswick is one of the largest and main Lake District towns, drawing in visitors most of the year round.



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.



DESCRIPTION

The building comprises a two-storey property of brick construction with rendered finish under a pitched slate roof. 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, a kitchen/diner, separate WC and cleaning room and is fitted out to a good standard throughout.



ACCOMMODATION SQ M SQ FT



Ground Floor - Cumberland Branch Branch 106.97 1,151

First Floor - Holiday Accommodation

Kitchen/Diner 28.54 307

Bedroom Master 17.99 194

Bedroom Twin 14.25 153

Cleaning Room 5.72 62

WC



TENURE AND TENANCIES

Ground Floor - Cumberland Branch (currently owner occupied)

On sale completion, the vendor agrees to enter into 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.



SERVICES

We understand mains water; gas, electricity and drainage are connected to the property. Heating is provided by way of a gas combi boiler feeding panel radiators throughout the accommodation.



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 the 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.



COSTS

Both parties will bear their own legal and professional costs in respect of any transaction.



VAT

No VAT is payable on the sale price.