FREEHOLD RETAIL INVESTMENT

A modern convenience store with 3 first floor flats situated in a residential area about 1.5 miles west of the City centre. The property is fully let to Martin McColl Ltd until 2029 with no break. The current rent is £47,067 per annum with 3% pa fixed increases in 2019 and 2024 when the rent will be £63,253 pa.

Tenure

Freehold

SITUATION

The property is situated approximately 1.5 miles west of the City centre in a residential area.

ACCOMMODATION

Ground Floor:- Modern shop/convenience store approx 2,205 sq ft/ 205 sq m First Floor:- (Not inspected) Residential comprising 3 flats.

COVENANT

The property is fully let to Martin McColl Limited Registered Co. Number 00298945 for 20 years from September 2009. Current rent £47,067 Rent from 2019 £54,563 Rent from 2024 £63,253

VAT

The sale of the property will be a TOGC in which case if the buyer registers for VAT and opts to tax then no VAT will be payable. Please refer to the special conditions of sale.

PLEASE NOTE

Services, apparatus and equipment have not been tested by Auction House Cumbria and therefore cannot be verified as being in working order. The buyer is advised to obtain verification from their Solicitor/Surveyor.

VIEWING

To view please call 01228 510552

Energy Efficiency Rating (EPC)

Current Rating D

Services

Interested parties are invited to make their own enquiries to the relevant authorities as to the availability of the services.

Local Authority

Carlisle City Council

Solicitors

Fox Williams LLP, 10 Dominion Street, London, EC2M 2EE, Ref: Simon Smith, Tel: 020 7614 2513

Additional Fees

Administration Charge - Purchasers will be required to pay an administration fee of £720 inc VAT

Disbursements - Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.