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Freehold Retail Investment Let to Poundstretcher Properties Ltd at 8 Finkle Street & 7 Brow Top, Workington,, Cumbria

Offers in Excess of 9,150 sq. ft. | £375,000

Property Description

Commercial information

  • 9,150 sq ft (850 sq m)

Key features

  • Entirely let to Poundstretcher Properties Ltd and guaranteed by Instore Ltd
  • Comprising a total of 9,150 sq ft, Rent Review 2018
  • Town centre location

Full description

ADDRESS: 8 Finkle Street & 7 Brow Top, Workington,, Cumbria, CA14 2AY
Entirely let to Poundstretcher Properties Ltd and guaranteed by Instore Ltd
Comprising a total of 9,150 sq ft, Rent Review 2018 Town centre location
LOCATION
Workington, with a population of some 25,000, is located on the Cumbrian coast and is served by the A66 and A596. Carlisle is some 35 miles north-east, Whitehaven 8 miles to the south whilst Penrith and the M6 (Junction 40) are 40 miles to the east.
SITUATION:
The property is situated on the north side of Finkle Street which joins directly with the pedestrianised Pow Street in the heart of Workington town centre. The road leads some 200 yards east to link directly with the A596 and A66. Workington Railway Station lies some 0.5 miles west of the property. Occupiers close by include Peacocks, William Hill, Barclays Bank, Holland & Barrett, Poundworld, Ryman, Clydesdale Bank, Halifax, Iceland and Sports Direct amongst many others.
DESCRIPTION
The property is arranged on basement, ground and two upper floors to provide a ground floor shop with ancillary accommodation arranged over basement, first and second floors
ACCOMMODATION:
Gross Frontage 47' 3", Net Frontage 40' 10", Shop Depth 85' 9", Built Depth 87' 7"
Basement 1,262 sq ft, Ground Floor 3,415 sq ft, First Floor 3,179 sq ft,
Second Floor 1,294 sq ft., Total 9,150 sq. ft.
TENANCY:
The entire property is at present let to POUNDSTRETCHER PROPERTIES LTD (guaranteed by Instore Ltd) for a term of 25 years from 30th January 1998 at a current rent of 41,000 per annum. The lease provides for rent reviews every fifth year of the term and contains full repairing and insuring covenants. There is a tenant's option to determine the lease in January 2018.
TENANT INFORMATION:
Poundstretcher were established in 1981 and currently trade from over 400 stores nationwide. Instore Limited is the parent company.
Website Address: www.poundstretcher.co.uk For the year ended 31st March 2014, Instore Ltd reported a net worth of 96.562m.

RENT: 41,000 p.a. TENURE: Freehold VAT: Applicable

PRICE: Offers in excess of 375, 000 - 10.6% Net


More information from this agent

Nearest stations

  • Workington (0.5 mi)
  • Harrington (2.3 mi)
  • Flimby (3.3 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Suttons, London

100 Pall Mall London SW1Y 5NQ

020 8012 3073 Local call rate

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Floorplans


To view this property or request more details, contact:

Suttons, London

100 Pall Mall London SW1Y 5NQ

020 8012 3073 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Map & Street View

Nearest stations

  • Workington (0.5 mi)
  • Harrington (2.3 mi)
  • Flimby (3.3 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Suttons, London

100 Pall Mall London SW1Y 5NQ

020 8012 3073 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

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