Retail premises for sale

Cumbria House, Murray Road, Workington, Cumbria CA14

Cumbria House is a two storey corner building let to four separate occupiers, and is fully let. To the rear is an enclosed car park of 6 no. Spaces. The construction is concrete frame with brick infill walls rendered externally under a flat assumed mineralised felt covered roof. The building is divided into four self-contained occupations, two fronting Murray Road, and two accessed from New Oxford Street. The accommodation is arranged over ground and first floors.

Age UK Carlisle and Eden leases the whole of the former building society branch unit fronting Murray Road with the charity occupying the ground-floor, and subletting the first floor to Cumbrian Gateway. Images Hair Salon occupies an adjacent ground-floor retail unit. Groundwork North East occupies the ground-floor office premises with frontage and access from New Oxford Street. Cumbria Gateway occupies first-floor offices accessed from a New Oxford Street entrance; this occupier has now reinstated a separate former opening between these offices and those first-floor offices above Age UK.

Gf Retail Unit - Images (Workington) Ltd
5 years wef 1 June 2022; reversionary lease agreed extending lease term to 31 May 2032;
Rent £7,800 pax rising to £8,400 pax wef 1 June 2027; iri; Break 1 June 2030

gf Offices - Groundwork North East
7 years wef 31 March 2021; expiry 30 March 2028; Rent £15,914 pax; iri

gf & ff Retail Unit - Age UK Carlisle and Eden
5 years wef 28 May 2025; expiry 27 May 2030; Rent £17,500 pax; iri subject to a Schedule of Condition; Break 28 May 2028; ff subject to a Licence to Occupy granted to Cumbria Gateway.

Ff Offices - Cumbria Gateway
5 years wef 11 January 2024; expiry 10 January 2029; Rent £10,000 pax; iri subject to a
Schedule of Condition; Break 10 January 2027

Location

Workington is a coastal town situated in west Cumbria with a resident population of approximately 25,000 but draws on a wider catchment incorporating surrounding towns and villages, such as Seaton, Maryport and High Harrington. Workington is the dominant retail centre for west Cumbria and is situated approximately 7 miles north of Whitehaven, 23 miles south west of Carlisle and 10 miles west of Cockermouth. The subject property is situated on the corner of Murray Road and New Oxford Street on the edge of the central retailing area, in a prominent position parade and the Washington Square Shopping Centre. The town's bus station sits immediately opposite, and jd Wetherspoon is adjacent. Other nearby operators include Heron Foods, Subway and Greggs.

Accommodation

This property has been measured and extends to the following approximate areas:

Terms

£450,000 for the freehold investment

Services

We understand mains water, gas, electricity and drainage are connected to
the property.

Business Rates

The Valuation Office Agency website identifies the 2023 Rateable Values for the property as
follows:

Ground Floor Offices, New Oxford Street: Offices and Premises - rv £10,500
Ground Floor Retail Unit, Murray Road, : Shop and Premises - rv £10,000
First Floor Offices, New Oxford Street: Offices and Premises - rv £13,250
Cumbria House, Ground & First Floor, Murray Road: Shop and Premises - rv £14,000

The Small Business Non-Domestic multiplier for the 2025/2026 rate year is 49.9p in the £.

EPC

The property holds a current Energy Performance Certificate rating of E (120)

VAT

We are advised that the property is not VAT elected, and therefore no VAT is payable on the
sale price.