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53 King St

1,575 SF 100% Leased Retail Building Whitehaven CA28 7JH $226,447 CAD ($144 CAD/SF) 12% Cap Rate

Investment Highlights

  • Good level of passing trade
  • Whitehaven is one of the major commercial centres in West Cumbria
  • A number of established retailers

Executive Summary

Offers in the region of £125,000 are invited for the freehold interest. Let on an Internal Repairing and Insuring lease for 10 years from 25th June 2018. The passing rent is £12,000 per annum, rising to £15,000 pa from June 2021 and the inclusion of an upward only rent review at the end of year 5.

Property Facts

Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Property Subtype
Storefront
Building Size
1,575 SF
Building Class
B
Year Built
1934
Price
$226,447 CAD
Price Per SF
$144 CAD
Cap Rate
12%
NOI
$27,174 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
3 Stories

Amenities

  • 24 Hour Access
  • Storage Space

About 53 King St , Whitehaven, CMA CA28 7JH

INVESTMENT LET TO RAMSDENS RECOGNISED AS A TRUSTED NATIONAL HIGH STREET RETAILER Whitehaven is one of the major commercial centres in West Cumbria and is the administrative centre for Copeland Borough Council area. The property is located along the town's main shopping street and occupies a prime location next to a number of national high street operators, including Bodycare, Card Factory, Boots Opticians and Costa. Ramsdens currently has over 120 branches throughout Northern England, Scotland and Wales and was established in 1987. The company has developed into a recognised and trusted national high street retailer. Let to RAMSDENS FINANCIAL LTD on an Internal Repairing and Insuring lease for 10 years from 25th June 2018. the passing rent is £15,000 pa. Half of the first floor lies within the tenant’s demise and half is not, the second floor is not either. There is no self-contained access to the remaining un-let part. The Land Lord is liable with the rates on the unrented area. The remaining first and second floors are in shell condition and basic attic stores.

MAJOR TENANTS

  • Tenant
  • Industry
  • SF OCCUPIED
  • RENT/SF
  • Lease End
  • Donnan Quayside Fisheries
  • -
  • 1,290 SF
  • -
  • -
Tenant Industry SF OCCUPIED RENT/SF Lease End
Donnan Quayside Fisheries - 1,290 SF - -

Nearby Major Retailers

ALDI
Ww - Weight Watchers
Iceland
Morrisons
National Westminster Bank Plc
HSBC
Santander
Barclays
ASDA
Tesco Superstore
  • Listing ID: 17187075

  • Date on Market: 2019-09-13

  • Last Updated:

  • Address: 53 King St, Whitehaven CA28 7JH

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