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1-2 Queen St 2,551 sq ft 100% Let Retail Property Penrith CA11 7XE £195,000 (£76.44/sq ft)
INVESTMENT HIGHLIGHTS
- Retail investment sale.
- Town centre location.
- Rental figure £16,500 pa.
- Let to Salvation Army Trading Company Limited until 28/02/2031.
- Edge of Lake District market town.
EXECUTIVE SUMMARY
The property comprises a three storey town centre retail shop.
The property is located on Queen Street in the centre of Penrith. Nearby occupiers include Poppins, Save the Children and the Alhambra Cinema.
Penrith is a market town, situated just to the north-east of the Lake District National Park, with a population of around 15,000. Traditionally a farming area, the town also has local and regional businesses and tourist trade throughout the year. It is at J40 of the M6, which links with the west-east A66 trunk road, and 20 miles south of Carlisle and has a railway station on the West Coast Main Line.
Local facilities include two secondary schools, a range of independent shops, pubs, cafes, a leisure centre and auction mart. Major retailers in the town include Argos, Peacocks, B&M, B&Q, Boots, Booths, Sainsburys, WH Smiths, Morrisons, Aldi and M&S Foodhall. The property is situated in a prime position on a main shopping street in the town centre.
The property has a ground floor retail sales area, with first and second floor storage and a staff WC on the first floor.
The Salvation Army occupy the premises under a lease dated 20th February 2025 which commenced on 1st March 2025 and expires 28th February 2031. There is a tenant only break on 1st March 2028. The lease is on standard FRI terms, but is subject to a Schedule of Condition.
Permitted use is as a retail shop within Use Class E(a)of the Town and Country Planning Use Classes Order 1987 (as amended at the date of grant).
The property is located on Queen Street in the centre of Penrith. Nearby occupiers include Poppins, Save the Children and the Alhambra Cinema.
Penrith is a market town, situated just to the north-east of the Lake District National Park, with a population of around 15,000. Traditionally a farming area, the town also has local and regional businesses and tourist trade throughout the year. It is at J40 of the M6, which links with the west-east A66 trunk road, and 20 miles south of Carlisle and has a railway station on the West Coast Main Line.
Local facilities include two secondary schools, a range of independent shops, pubs, cafes, a leisure centre and auction mart. Major retailers in the town include Argos, Peacocks, B&M, B&Q, Boots, Booths, Sainsburys, WH Smiths, Morrisons, Aldi and M&S Foodhall. The property is situated in a prime position on a main shopping street in the town centre.
The property has a ground floor retail sales area, with first and second floor storage and a staff WC on the first floor.
The Salvation Army occupy the premises under a lease dated 20th February 2025 which commenced on 1st March 2025 and expires 28th February 2031. There is a tenant only break on 1st March 2028. The lease is on standard FRI terms, but is subject to a Schedule of Condition.
Permitted use is as a retail shop within Use Class E(a)of the Town and Country Planning Use Classes Order 1987 (as amended at the date of grant).
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Property Size
2,551 sq ft
Costar Property Class
C
Year Built
1920
Price
£195,000
Price per sq ft
£76.44
Occupancy Rate
100%
Number of Floors
3
Plot ratio
3.64
Total Plot Size
0.02 ac
Frontage
40 ft on Queen Street
AMENITIES
- 24 Hour Access
- Security System
- Signage
- Storage Space
- Smoke Detector
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NEARBY MAJOR RETAILERS
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1-2 Queen St
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