14a Station Street, Keswick

Description

DESCRIPTION

The building is a four storey, end of terrace, of traditional stone and slate construction. There are four floors with one property on each. The properties are self-contained but do not include the structure.

Full details are contained within the leases, copies of which can be made available upon request.

The principal access to the ground floor is from Station Street. The flats are accessible from a common staircase, the entrance to which is from a side door in the building.

The property to be sold is the sum of the freehold entitlements to the ground rents currently receivable at 14a Station Street, Keswick and more particularly:

Ground Floor: Commercial premises (occupied by Chisholm Bookmakers) Rent: £nil

First Floor: Residential flat known as Bag End. Rent: £302.74 per annum

Second Floor: Residential premises known as Grandy Nook Rent: £nil

Third Floor: Residential premises known as Grand View. Rent: £302.74

RENT

Currently £605.48 per annum, subject to review.

RENT REVIEWS

There are rent reviews applicable to the flats on the first and third floors as follows:

1st January 2019 and every fifth anniversary of that date. The rents are to be increased on the rent review dates by 2.5% per annum compound.

LEASES

Ground floor: 999 years from 07/12/2009

First floor: 999 years from 07.12.2009

Second floor: 999 years from 07.12.2009

Third floor: 999 years from 7.12.2009

TITLE NUMBERS

Ground floor: CU288935

First floor: CU288517

Second floor: CU252348

Third floor: CU296461

LOCATION

Located in a good secondary trading position, Station Street is a bustling area, popular with both local people and tourists alike, and benefits from a good mix of shops, offices, restaurants and bars.

Keswick is the principal town for the northern Lake District, attracting large numbers of visitors throughout the year, benefitting from 7 day seasonal trading and extended hours.

PROPOSAL

The freehold of the building, subject to the leases referred to herein, and currently producing a rent of £605.48 per annum is offered for the sum of £12,100

LEGAL COSTS

Each party to bear their own legal and professional costs incurred in the transaction.

VAT

Rent quoted is exclusive of VAT if applicable

FURTHER INFORMATION

Please contact Keith Mitchell in our Keswick Office.