30 Station St 1,151 SF Retail Building Keswick CA12 5HF £575,000 (£499.57/SF) 3.48% Net Initial Yield
INVESTMENT HIGHLIGHTS
- Surrounding occupiers include a mixture of national companies and well established local independent retailers who have traded from Keswick for years.
- Good level of passing trade being in a secondary trading location.
- The building is well positioned at the top end of Station Street.
EXECUTIVE SUMMARY
Offers in the region of £575,000 are invited for the sale and leaseback freehold investment.
*** LAKE DISTRICT LOCATION ***
*** RARE SALE & LEASEBACK INVESTMENT OPPORTUNITY ***
Station Street is a good secondary trading location for Keswick conveniently nestled between Main Street and Fitz Park. The building is well positioned at the top end of Station Street. Surrounding occupiers include a mixture of national companies and well established local independent retailers who have traded from Keswick for years.
DESCRIPTION
The building comprises a two-storey property of brick construction with rendered finish under a pitched slate roof. The ground floor comprises a self contained commercial unit currently operating as the Cumberland Building Society Branch.
The first-floor accommodation is a self-contained first floor holiday flat sitting immediately above the Cumberland branch. The space comprises an entrance hallway, two double bedrooms, kitchen/diner, separate WC and cleaning room and is fitted out to a good standard throughout.
ACCOMMODATION AND AREAS
Ground Floor - Cumberland Branch
Branch 106.97 sq m (1,151 sq ft)
First Floor - Holiday Accommodation
Kitchen/Diner 28.54 sq m ( 307 sq ft)
Bedroom Master 17.99 sq m ( 194 sq ft)
Bedroom Twin 14.25 sq m ( 153 sq ft)
Cleaning Room 5.72 sq m ( 62 sq ft)
WC
TENURE AND TENANCIES
Ground Floor - Cumberland Branch (currently owner occupied)
On sale completion, the vendor agrees to enter in to a new lease on the following terms: -
• Term – 20 years with effect from sale completion
• Rent - £20,000 per annum exclusive
• Breaks – End of Years 5, 10 and 15
• Rent Reviews – End of Years 5, 10 and 15
• Repair – IRI
First Floor - Holiday Accommodation
The holiday accommodation is managed by a third party. The average net income after management costs and services for the 2022 and 2023 years is approximately £13,500 per annum.
SERVICES
We understand mains water, gas, electricity and drainage are connected to the property. Heating is provided by way of a gas Combi boiler feeding panel radiators throughout the accommodation.
*** LAKE DISTRICT LOCATION ***
*** RARE SALE & LEASEBACK INVESTMENT OPPORTUNITY ***
Station Street is a good secondary trading location for Keswick conveniently nestled between Main Street and Fitz Park. The building is well positioned at the top end of Station Street. Surrounding occupiers include a mixture of national companies and well established local independent retailers who have traded from Keswick for years.
DESCRIPTION
The building comprises a two-storey property of brick construction with rendered finish under a pitched slate roof. The ground floor comprises a self contained commercial unit currently operating as the Cumberland Building Society Branch.
The first-floor accommodation is a self-contained first floor holiday flat sitting immediately above the Cumberland branch. The space comprises an entrance hallway, two double bedrooms, kitchen/diner, separate WC and cleaning room and is fitted out to a good standard throughout.
ACCOMMODATION AND AREAS
Ground Floor - Cumberland Branch
Branch 106.97 sq m (1,151 sq ft)
First Floor - Holiday Accommodation
Kitchen/Diner 28.54 sq m ( 307 sq ft)
Bedroom Master 17.99 sq m ( 194 sq ft)
Bedroom Twin 14.25 sq m ( 153 sq ft)
Cleaning Room 5.72 sq m ( 62 sq ft)
WC
TENURE AND TENANCIES
Ground Floor - Cumberland Branch (currently owner occupied)
On sale completion, the vendor agrees to enter in to a new lease on the following terms: -
• Term – 20 years with effect from sale completion
• Rent - £20,000 per annum exclusive
• Breaks – End of Years 5, 10 and 15
• Rent Reviews – End of Years 5, 10 and 15
• Repair – IRI
First Floor - Holiday Accommodation
The holiday accommodation is managed by a third party. The average net income after management costs and services for the 2022 and 2023 years is approximately £13,500 per annum.
SERVICES
We understand mains water, gas, electricity and drainage are connected to the property. Heating is provided by way of a gas Combi boiler feeding panel radiators throughout the accommodation.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Property Subtype
Storefront Retail/Residential
Building Size
1,151 SF
Building Class
B
Year Built
1975
Price
£575,000
Price Per SF
£499.57
Net Initial Yield
3.48%
NOI
£20,000
Tenancy
Single
Number of Floors
2
Building FAR
0.64
Lot Size
0.04 AC
Frontage
23 ft on Station Street
AMENITIES
- 24 Hour Access
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NEARBY MAJOR RETAILERS
