Retail premises for sale

Stramongate 1 & Kent Street, 2, Kendal LA9

* prime freehold retail investment ** only subway within kendal town centre ** WAULT of approximately 14.75 years** position for subway in kendal since 2014**potential to increase rent regularly *LOCATIONThe property is located on the corner of Stramongate and Kent Street, which is adjacent to Finkle Street and Market Place, the pedestrianised shopping streets for the town.DESCRIPTIONThe three storey corner building has prominent frontage onto Stramongate and Kent Street with convenient vehicle access available. The building has been operational as a subway for many years, and remains the only one in Kendal town centre. The tenant rents the whole of the property comprising basement stores, ground floor shop, first floor customer seating and office, plus second floor storage areas.ACCOMMODATIONSales itza: 60.85 sq m ( 655 sq ft)Disabled WCFirst floor customer seating: 34.10 sq m ( 367 sq ft)First floor storage: 29.36 sq m (0,316 sq ft)Second floor: 78.87 sq m (0,849 sq ft)Basement: 25.02 sq m ( 269 sq ft)SERVICESWe understand mains water, electricity and drainage are connected. Air conditioning has also been installed. The tenant is responsible for paying the various suppliers in respect of each of the services.TENANCYThe premises are let on a 15 year Fri lease, with no tenant break, from February 2025.The passing rent is £21,000 per annum exclusive.The building is let to Vaah Ltd (company number Redthorn Grove, Birmingham B33 8BE.Security against the lease is provided by way of personal guarantors from the company directors.The rent can be reviewed on an upwards only basis in the 5th and 10th years of the lease.