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4 Station St 3,329 sq ft 100% Let Retail Property Cockermouth CA13 9QW £375,000 (£112.65/sq ft) 7.31% Net Initial Yield
INVESTMENT HIGHLIGHTS
- Station Street is prominently positioned in a prime location in the town centre.
- There are currently two food festivals a year - the Taste Cumbria and the Christmas festival attracting many thousands of visitors to each.
- The unit neighbours many strong local retailers and benefits from the recent arrival of Costa and Dominos to the street.
EXECUTIVE SUMMARY
Offers in the region of £375,000 are invited for the long leasehold interest.
4 is currently let to Memoscan Ltd t/a Mama Mia on a new 25 year lease with effect from December 2023 at a rent of £14,400 per annum with rent reviews 5th yearly. There are tenant only breaks in December 2038 and 2043. The tenant is currently in the process of fitting out the unit ready for opening their hot food takeaway.
4d is currently let to Fyne Fish on new 10 year lease with effect from November 2021 at a rent of £13,000 per annum with rent reviews in 2024, 2027 and 2030. There are tenant-only breaks in April 2028 and 2030.
FOR A FULL DESCRIPTION CLICK ONTO THE MARKETING DETAILS ATTACHED
4 is currently let to Memoscan Ltd t/a Mama Mia on a new 25 year lease with effect from December 2023 at a rent of £14,400 per annum with rent reviews 5th yearly. There are tenant only breaks in December 2038 and 2043. The tenant is currently in the process of fitting out the unit ready for opening their hot food takeaway.
4d is currently let to Fyne Fish on new 10 year lease with effect from November 2021 at a rent of £13,000 per annum with rent reviews in 2024, 2027 and 2030. There are tenant-only breaks in April 2028 and 2030.
FOR A FULL DESCRIPTION CLICK ONTO THE MARKETING DETAILS ATTACHED
PROPERTY FACTS Sale Pending
Sale Type
Investment
Property Type
Retail
Tenure
Long Leasehold
Property Subtype
Shopfront Retail / Residential
Property Size
3,329 sq ft
Costar Property Class
B
Year Built
1955
Price
£375,000
Price per sq ft
£112.65
Yield
7.31%
NOI
£27,400
Occupancy Rate
100%
Tenancy
Multiple
Number of Floors
3
Plot ratio
0.85
Total Plot Size
0.09 ac
Parking
1 Spaces (0.3 Spaces per 1,000 sq ft Leased)
Frontage
16 ft on Station Street
AMENITIES
- 24 Hour Access
- Storage Space
1 1
NEARBY MAJOR RETAILERS
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VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
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4 Station St
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