£35,000 pa
(£6.14/sq. ft. pa)
Retail premises to letMarket Square, Penrith CA11
5,697 sq. ft
About this property
An excellently positioned return frontage former banking hall.
Market Square is the heart of Penrith’s retail core.
The property provides an architecturally significant building.
Neighbouring occupiers include Natwest and Devonshire Arcade retail scheme.
The property extends to an overall approximate Net Internal Area of 5,697 sq ft.
Available at a rental of £35,000 per annum, exclusive.
Location
The subject property is located on Market Square the main retailing pitch in the market town of Penrith, Cumbria in the North West England.
Penrith is an attractive and affluent market town situated just 3 miles to the north east fringe of the Lake District. It is well located being on Junction 40 of the M6 motorway network providing direct access north and south and to the A66 which leads west to the Lake District National Park and east to Scotch Corner and the A1(M).
Penrith has a resident population of approximately 16,701 (2021 Census) and is located within Eden District with a District population of over 54,700 (2021 Census). Carlisle is approximately 20 miles to the north, Kendal 32 miles to the south and Keswick 18 miles to the west. Penrith has a train station on the main West Coast Line with direct services north to Carlisle and Glasgow and South to London Euston with a journey time of around 3 hours.
The town is a popular tourist destination due to its proximity to the Lake District National Park, Yorkshire Dales and ease of accessibility. Penrith is a stopping point on a number of the Coast to Coast routes and is supported by good retail and leisure facilities including Sainsbury's, Booths, Morrisons and Aldi Supermarkets as well as Boots, M&S Food, Argos and T G Jones.
Market Square forms part of the A6, the main route into Penrith town centre leading from Middlegate, a short distance to the northwest. The A6/Market Square links with King Street to the south which connects with Kemplay Roundabout and the A66 approximately 1 mile away. The heart of the town centre provides a range of local, regional and national retail occupiers as well as leisure facilities, national supermarket brands and Penrith Railway Station is around 800 metres to the south west of the property.
Description
The property comprises an attractive Grade ll Listed former banking hall within the heart of Penrith town centre occupying a prominent corner position with significant return frontage. The accommodation is arranged as two open plan retail/trading areas at ground floor together with a series of interlinked trading areas, offices, meeting rooms and WC facilities at first floor plus further offices, storage and ancillary accommodation at second floor and at basement level there are storage rooms and in situ former bank vaults.
Ground Floor
Retail Areas – the ground floor retail space is divided into two distinct trading areas, a larger area to the front and a smaller but interlinked trading area to the side, alongside former consultation rooms to the front. The accommodation provides high ceilings, bespoke timber cladding, exposed dressed stone detail, and is accessed via double doors from the corner of the building benefitting from a ramped entrance.
First Floor
The first floor is accessed via a central staircase and also benefits from a stock lift, up to a central hallway with doors through to the additional accommodation.
Potential Retail Areas – the first floor accommodation comprises a mixture of former meeting rooms, staff room, kitchen, offices, and WC facilities offering various options for occupier requirements.
In the main, the space provides carpeted/vinyl flooring, suspended lighting, plaster painted walls and ceilings, kitchen facilities and WC accommodation.
Second Floor
The second floor is accessed via two staircases to a series of office/storage rooms, previously in residential use and open plan former services room and former kitchen.
Basement
The basement is accessed via a rear staircase and provides unique accommodation benefiting from a stock lift and original bank vaults.
Accommodation
The property has the following approximate floor areas:
Net Internal Areas
Ground Floor 181.45m2 (1,953 sq ft)
First Floor 131.45m2 (1,415 sq ft)
Second Floor 139.29m2 (1,499 sq ft)
Basement 77.10m2 (830 sq ft)
Total Approximate gia 529.29m2 (5,697 sq ft)
Services
The land and building are connected to mains electricity, gas (capped), water and the mains drainage/sewage system.
It should be noted that services have not been tested and therefore should not be relied upon on.
Rateable value
The property is assessed with a Rateable Value of £26,250 and is described as a shop and premises.
Prospective tenants should check the exact rates payable with Westmorland & Furness Council.
Energy performance certificate
The property has an Energy Asset Rating of D78.
A copy of the Energy Performance Certificate is available to download from the Edwin Thompson website or upon request.
Lease terms
The property is available by way of a Full Repairing & Insuring lease agreement for a term to be agreed and at a rental of £35,000 per annum exclusive.
The landlord is willing to discuss bespoke fit-out options by way of potential landlord works, capital contribution structures, or rental incentive packages.
Money laundering regulations
The successful tenant(s) should be aware that they will be required to provide the letting agent with documents in relation to Money Laundering Regulations. Further details are available upon request.
VAT
All figures quoted are exclusive of VAT where applicable.
Legal costs
Each party to bear their own legal costs in the preparation and settlement of the lease documentation together with any VAT thereon.
Viewing
The property is available to view strictly by appointment with Edwin Thompson, contact:
Joe Ellis – at our Windermere office.
Ruth Richardson – at our Carlisle office.
Important notice
Edwin Thompson for themselves and for the Vendor/Landlord of this property, whose Agents they are, give notice that:
1. The particulars are set out as a general outline only for the guidance of intending purchasers and do not constitute, nor constitute part of, any offer or contract.
2. All descriptions, dimensions, plans, reference to condition and necessary conditions for use and occupation and other details are given in good faith and are believed to be correct, but any intending purchasers should not rely on them as statements or representations of fact but must satisfy themselves by inspection or otherwise as to their correctness.
3. No person in the employment of Edwin Thompson has any authority to make or give any representation or warranty whatsoever in relation to this property or these particulars, nor to enter into any contract relating to the property on behalf of the Agents, nor into any contract on behalf of the Vendor.
4. No responsibility can be accepted for loss or expense incurred in viewing the property or in any other way in the event of the property being sold or withdrawn.
5. These particulars were prepared in June 2026.
The subject property is located on Market Square the main retailing pitch in the market town of Penrith, Cumbria in the North West England.
Penrith is an attractive and affluent market town situated just 3 miles to the north east fringe of the Lake District. It is well located being on Junction 40 of the M6 motorway network providing direct access north and south and to the A66 which leads west to the Lake District National Park and east to Scotch Corner and the A1(M).
Penrith has a resident population of approximately 16,701 (2021 Census) and is located within Eden District with a District population of over 54,700 (2021 Census). Carlisle is approximately 20 miles to the north, Kendal 32 miles to the south and Keswick 18 miles to the west. Penrith has a train station on the main West Coast Line with direct services north to Carlisle and Glasgow and South to London Euston with a journey time of around 3 hours.
The town is a popular tourist destination due to its proximity to the Lake District National Park, Yorkshire Dales and ease of accessibility. Penrith is a stopping point on a number of the Coast to Coast routes and is supported by good retail and leisure facilities including Sainsbury's, Booths, Morrisons and Aldi Supermarkets as well as Boots, M&S Food, Argos and T G Jones.
Market Square forms part of the A6, the main route into Penrith town centre leading from Middlegate, a short distance to the northwest. The A6/Market Square links with King Street to the south which connects with Kemplay Roundabout and the A66 approximately 1 mile away. The heart of the town centre provides a range of local, regional and national retail occupiers as well as leisure facilities, national supermarket brands and Penrith Railway Station is around 800 metres to the south west of the property.
Description
The property comprises an attractive Grade ll Listed former banking hall within the heart of Penrith town centre occupying a prominent corner position with significant return frontage. The accommodation is arranged as two open plan retail/trading areas at ground floor together with a series of interlinked trading areas, offices, meeting rooms and WC facilities at first floor plus further offices, storage and ancillary accommodation at second floor and at basement level there are storage rooms and in situ former bank vaults.
Ground Floor
Retail Areas – the ground floor retail space is divided into two distinct trading areas, a larger area to the front and a smaller but interlinked trading area to the side, alongside former consultation rooms to the front. The accommodation provides high ceilings, bespoke timber cladding, exposed dressed stone detail, and is accessed via double doors from the corner of the building benefitting from a ramped entrance.
First Floor
The first floor is accessed via a central staircase and also benefits from a stock lift, up to a central hallway with doors through to the additional accommodation.
Potential Retail Areas – the first floor accommodation comprises a mixture of former meeting rooms, staff room, kitchen, offices, and WC facilities offering various options for occupier requirements.
In the main, the space provides carpeted/vinyl flooring, suspended lighting, plaster painted walls and ceilings, kitchen facilities and WC accommodation.
Second Floor
The second floor is accessed via two staircases to a series of office/storage rooms, previously in residential use and open plan former services room and former kitchen.
Basement
The basement is accessed via a rear staircase and provides unique accommodation benefiting from a stock lift and original bank vaults.
Accommodation
The property has the following approximate floor areas:
Net Internal Areas
Ground Floor 181.45m2 (1,953 sq ft)
First Floor 131.45m2 (1,415 sq ft)
Second Floor 139.29m2 (1,499 sq ft)
Basement 77.10m2 (830 sq ft)
Total Approximate gia 529.29m2 (5,697 sq ft)
Services
The land and building are connected to mains electricity, gas (capped), water and the mains drainage/sewage system.
It should be noted that services have not been tested and therefore should not be relied upon on.
Rateable value
The property is assessed with a Rateable Value of £26,250 and is described as a shop and premises.
Prospective tenants should check the exact rates payable with Westmorland & Furness Council.
Energy performance certificate
The property has an Energy Asset Rating of D78.
A copy of the Energy Performance Certificate is available to download from the Edwin Thompson website or upon request.
Lease terms
The property is available by way of a Full Repairing & Insuring lease agreement for a term to be agreed and at a rental of £35,000 per annum exclusive.
The landlord is willing to discuss bespoke fit-out options by way of potential landlord works, capital contribution structures, or rental incentive packages.
Money laundering regulations
The successful tenant(s) should be aware that they will be required to provide the letting agent with documents in relation to Money Laundering Regulations. Further details are available upon request.
VAT
All figures quoted are exclusive of VAT where applicable.
Legal costs
Each party to bear their own legal costs in the preparation and settlement of the lease documentation together with any VAT thereon.
Viewing
The property is available to view strictly by appointment with Edwin Thompson, contact:
Joe Ellis – at our Windermere office.
Ruth Richardson – at our Carlisle office.
Important notice
Edwin Thompson for themselves and for the Vendor/Landlord of this property, whose Agents they are, give notice that:
1. The particulars are set out as a general outline only for the guidance of intending purchasers and do not constitute, nor constitute part of, any offer or contract.
2. All descriptions, dimensions, plans, reference to condition and necessary conditions for use and occupation and other details are given in good faith and are believed to be correct, but any intending purchasers should not rely on them as statements or representations of fact but must satisfy themselves by inspection or otherwise as to their correctness.
3. No person in the employment of Edwin Thompson has any authority to make or give any representation or warranty whatsoever in relation to this property or these particulars, nor to enter into any contract relating to the property on behalf of the Agents, nor into any contract on behalf of the Vendor.
4. No responsibility can be accepted for loss or expense incurred in viewing the property or in any other way in the event of the property being sold or withdrawn.
5. These particulars were prepared in June 2026.
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