Retail premises for sale

Middlegate, Market Square, 4 & 5, Penrith CA11

* long leasehold investment for sale ** investment highlights *-Prime town centre location in Penrith-Passing rent: £20,500 per annum exclusive -No VAT payable on sale price-100% Business Rate Relief Attainable for Tenants LOCATIONThe subject property is in a prime position for Penrith town centre and lies on the intersection of Market Square and King Street. Rear access is provided from St Andrews Churchyard. Description of UNITSUnit 4 comprises a ground floor commercial shop unit let to a local covenant, with an attractive glazed window frontage, currently operating as a café / coffee shop. The unit has the benefit of a rectangular shape and integral wc. The interior is modern and well fitted out.Unit 5 also comprises a modern ground floor commercial shop unit let to a local covenant, with an attractive glazed window frontage, and is currently operating as a barber shop. The unit has the benefit of a rectangular shape recess access door and integral wc. In the event of the units becoming vacant, due to their size, configuration and rates relief being attainable, they are likely to be attractive for similar uses and other local new start operators for re-occupation.tenancy SCHEDULE4 Market Square5 years from 1 November 2024; expiry 31 October 2029Rent: £10,500Rent Review in November 2027Internal Repairing and Insuring LeaseBreak Clause End of Year 35 Market Square7 years from 24 July 2024; expiry 23 July 2031Rent: £10,000Rent Review in July 2027 and 2030Internal Repairing and Insuring LeaseNo Break ClauseSALE PRICEThe long leasehold investment is available for sale at a sale price of £275,000VATNo VAT is payable on the sale price.