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35 Lowther St 581 SF Retail Building Whitehaven CA28 7JS $121,196 ($208.60/SF) 10% Cap Rate
INVESTMENT HIGHLIGHTS
- Lease expiry 2024, tenant option to break 2022
- Property positioned on busy shopping street in the town centre adjacent to ‘The Rum Story’
- Rent Deposit held on account of £2,100
EXECUTIVE SUMMARY
Freehold Shop Investment
VAT is NOT applicable to this property
Lease expiry 2024, tenant option to break 2022
The property comprises of one shop currently let as a hair salon. Also a sold off GF cafe and sold off upper office space on peppercorn rents.
Location Description:
The property lies in a busy shopping street in the town centre adjacent to ‘The Rum Story’, a popular visitor attraction. Major businesses in the town include Costa’s, TSB, Santander, Tesco’s, Dorothy Perkins, Superdrug, Boots, Dixons, Burtons, WH Smith and Sellafield Limited.
VAT is NOT applicable to this property
Lease expiry 2024, tenant option to break 2022
The property comprises of one shop currently let as a hair salon. Also a sold off GF cafe and sold off upper office space on peppercorn rents.
Location Description:
The property lies in a busy shopping street in the town centre adjacent to ‘The Rum Story’, a popular visitor attraction. Major businesses in the town include Costa’s, TSB, Santander, Tesco’s, Dorothy Perkins, Superdrug, Boots, Dixons, Burtons, WH Smith and Sellafield Limited.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Property Subtype
Storefront Retail/Office
Building Size
581 SF
Building Class
B
Year Built
1956
Price
$121,196
Price Per SF
$208.60
Cap Rate
10%
NOI
$12,120
Tenancy
Single
Building Height
2 Stories
Building FAR
0.67
Lot Size
0.02 AC
Frontage
32’ on Lowther Street
AMENITIES
- Storage Space
ABOUT 35 LOWTHER ST , WHITEHAVEN, CMA CA28 7JS
The property comprises of one shop currently let as a hair salon and two other commercial units sold off on long lease for peppercorn rents, which includes a ground floor cafe and upper floor office space. The shop is at present let to S. McCabe for a term of 5 years from 3rd April 2019 at a current rent of £7,000 per annum. The lease contains full repairing and insuring covenants and a tenant option to break in 2022. A rental deposit is held on account of £2,100. The tenant has rent free period until 3rd October 2019.
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE END
- S. McCabe
- Services
- 581 SF
- -
- Apr 2024
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE END | ||
| S. McCabe | Services | 581 SF | - | Apr 2024 |
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35 Lowther St
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