36-38 Botchergate 8,556 SF 100% Leased Retail Building Carlisle CA1 1QS $288,653 ($33.74/SF) 8% Cap Rate

Investment Consideration:
VAT is NOT applicable to this property
Comprises large ground floor public house t/a Brewdog
First/second floor vacant commercial premises has been sold-off on long leasehold
Located in the town centre within walking distance to Carlisle Train Station
Nearby occupiers include Vue Cinema, Ibis Hotel, Snap Fitness and more.
Property Description:
Comprises large ground floor public house let to Brewdog. The property includes vacant commercial accommodation at first/second floor which has been sold-off on long leasehold, providing the following accommodation and dimensions:
Ground Floor: Open plan bar & restaurant, storage, customer wc`s
First/Second Floor: Sold-off
Total GIA: 332 sq m (3,574 sq ft)
Tenancy:
The ground floor public house is at present let to Brewdog Retail Limited for a term of 15 Years from 20th September 2018 at a current rent of £20,000 p.a. and the lease provides full repairing and insuring covenants. Rent review on 20.09.28 open market upward only. Tenant break option to determine on 20.09.28 with min 6 months notice. Break option in 2023 NOT exercised.
The first/second floor commercial premises has been sold-off on long leasehold to an Individual for a term of 999 Years from 2024 at a ground rent of peppercorn.
Location:
Carlisle is a border city and the county town of Cumbria, as well as the administrative centre of the City of Carlisle district in North West England. Carlisle is located 8 miles south of the Scottish border at the confluence of the rivers Eden, Caldew and Petteril. Carlisle is the only city in Cumbria. The city centre is largely pedestrianised and the Lanes shopping centre is home to around 75 shops. Carlisle is linked to the rest of England via the M6 motorway to the south, and to Scotland via the M74/A74 towards Glasgow and the north. Located in the town centre within walking distance to Carlisle Train Station. Nearby occupiers include Vue Cinema, Ibis Hotel, Snap Fitness and more.