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35 Lowther St 581 sq ft Retail Property Whitehaven CA28 7JS £90,000 (£154.91/sq ft) 10% Net Initial Yield
INVESTMENT HIGHLIGHTS
- Lease expiry 2024, tenant option to break 2022
- Property positioned on busy shopping street in the town centre adjacent to ‘The Rum Story’
- Rent Deposit held on account of £2,100
EXECUTIVE SUMMARY
Freehold Shop Investment
VAT is NOT applicable to this property
Lease expiry 2024, tenant option to break 2022
The property comprises of one shop currently let as a hair salon. Also a sold off GF cafe and sold off upper office space on peppercorn rents.
Location Description:
The property lies in a busy shopping street in the town centre adjacent to ‘The Rum Story’, a popular visitor attraction. Major businesses in the town include Costa’s, TSB, Santander, Tesco’s, Dorothy Perkins, Superdrug, Boots, Dixons, Burtons, WH Smith and Sellafield Limited.
VAT is NOT applicable to this property
Lease expiry 2024, tenant option to break 2022
The property comprises of one shop currently let as a hair salon. Also a sold off GF cafe and sold off upper office space on peppercorn rents.
Location Description:
The property lies in a busy shopping street in the town centre adjacent to ‘The Rum Story’, a popular visitor attraction. Major businesses in the town include Costa’s, TSB, Santander, Tesco’s, Dorothy Perkins, Superdrug, Boots, Dixons, Burtons, WH Smith and Sellafield Limited.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Property Subtype
Shopfront Retail / Office
Property Size
581 sq ft
Costar Property Class
B
Year Built
1956
Price
£90,000
Price per sq ft
£154.91
Yield
10%
NOI
£9,000
Tenancy
Single
Number of Floors
2
Plot ratio
0.67
Total Plot Size
0.02 ac
Frontage
32 ft on Lowther Street
AMENITIES
- Storage Space
ABOUT 35 LOWTHER ST , WHITEHAVEN, CMA CA28 7JS
The property comprises of one shop currently let as a hair salon and two other commercial units sold off on long lease for peppercorn rents, which includes a ground floor cafe and upper floor office space. The shop is at present let to S. McCabe for a term of 5 years from 3rd April 2019 at a current rent of £7,000 per annum. The lease contains full repairing and insuring covenants and a tenant option to break in 2022. A rental deposit is held on account of £2,100. The tenant has rent free period until 3rd October 2019.
MAJOR TENANTS
- TENANT
- INDUSTRY
- sq ft OCCUPIED
- RENT/sq ft
- LEASE END
- S. McCabe
- Service type
- 581 sq ft
- -
- Apr 2024
| TENANT | INDUSTRY | sq ft OCCUPIED | RENT/sq ft | LEASE END | ||
| S. McCabe | Service type | 581 sq ft | - | Apr 2024 |
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35 Lowther St
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