0 Bed Commercial Property For Sale

StrapLine

The property comprises a ground floor retail shop with ancillary accommodation at basement

Investment let at £8,500 per annum (12.1% GIY on guide price).

Description

The property comprises a ground floor retail shop trading as a dog groomers with ancillary accommodation at basement

investment let at £8,500 per annum (12.1% GIY on guide price).

Located in Penrith, Cumbria

Location

Penrith is a popular market town on the fringe of the Lake District National Park adjacent to junction 40 of the M6 motorway, and the A66 Trans Pennine Trunk Road interchange; has a railway station serving the main West Coast Line between London and Scotland. The town is 20 miles south of Carlisle and 28 miles north of Kendal, the nearest competitive retail centres. Penrith has a resident population circa 16,000 with a local authority catchment in the region of 50,000. Cornmarket has a good trading position in the town and benefits from a range of national occupiers having a presence in the immediate vicinity including Domino’s, Betfred and Vision Express.

Tenancy

5 Cornmarket

The property is let to an Individual t/a Dog Groomer for a term of 6 years 11 months from 9th May 2025 at current rent of £8,500 p.a. and the lease contains full repairing and insuring covenants. Review rent on 3rd anniversary linked to RPI with 1% collar and 3% cap per annum. Tenant has right to determine lease on 9th May 2027. Rent deposit is held of £2,125.

Accommodation

Ground Floor: 40 sq m (430 sq ft) Open plan retail, Storage, Kitchenette, WC

Basement: 16 sq m (172 sq ft) Open plan storage

Total: 56 sq m (602 sq ft)