ADDRESS78 King Street, Whitehaven, Cumbria, CA28 7LE
TYPEHotel, Retail, General Retail, Retail - High Street, Mixed Use, Other Property Types & Opportunities
TENUREInvestment Opportunity, For Sale Freehold
POSTED ON17th August 2024
Description
Investment Consideration: Rental Income: £200 p.a. ERV: £6,700 p.a. GIY: 12.18% VAT is NOT applicable to this property Comprises vacant ground floor shop with ancillary at basement and part first floor Includes 3 residential flats at part first and second floor, which have been sold-off Located in the heart of the town centre next to Whitehaven Marina with occupiers nearby including Halifax, Subway, Cinema, Hotels and many more.
Property Description: Comprises ground floor shop with ancillary accommodation at part first floor and basement. The property includes 3 residential flats at part first and second floor, accessed from the rear which have been sold-off on long leaseholds. Ground Floor Shop: 101 sq m (1,085 sq ft) Open plan retail, storage Part First Floor: 8 sq m (85 sq ft) Ancillary, 2 WCs Basement: Not inspected Part First/Second Floor: 3 Flats (sold-off) Total Retail GIA: 109 sq m (1,170 sq ft)
Tenancy: The retail shop is at present vacant. ERV: £6,500 p.a. The 3 residential flats have been sold-off for on long leaseholds for a term of 999 Years from 1st January 2007 at a ground rent of £200 p.a.
Location: Whitehaven is equidistant between Carlisle and Barrow-in-Furness and serves as a retail, service and employment centre to the outlying rural areas. The A595 lies parallel to the town which leads in turn to the M6 at both Carlisle and Kendal. The property is situated in the heart of the town centre next to Whitehaven Marina with occupiers nearby including Halifax, Subway, Cinema, Hotels and many more.
