Crescent Road, 31 - 33 Crescent Road, Windermere, Cumbria, LA23 1BL
- SIZE
Ask agent
- SECTOR
Hospitality facility for sale
Key features
- Investment Property
- Desirable Tourist Location
- Ground Floor Café and 2 Self-Contained Flats
- Gross Initial Yield: 7.3%
- Rental Income: £55,000 per annum
- Energy Rating C
- Christie & Co Ref: 6467082
Description
The property comprises ground floor cafe and two residential flats above, providing the following accommodation and dimensions:
Ground Floor: Cafe 216sq.m (2325sq.ft)
Areas include open plan service area, separate seating area, commercial grade kitchen, access to lower ground floor cellar, WCs, office and storage areas
First Floor Flat: 73sq.m (786sq.ft)
Two bedrooms (one with ensuite), lounge, kitchen diner, hallway, bathroom and terrace
Upper Floor Flat: 54 sqm (581sq.ft)
Two bedrooms, lounge, kitchen diner, hallway, bathroom
The property is located in the attractive and popular tourist town of Windermere, Cumbria, just over a mile away from Lake Windermere (England's largest lake) and the town of Bowness on Windermere.
The towns of Windermere and Bowness are at the heart of the Lake District, the perfect Lakeland destination all year round, and have been a magnet for visitors for centuries.
The property is located in a prominent position in the town centre. Occupiers close by include Co-op, Sainsbury's, Boots and many other amenities.
Ideally situated in the centre of the popular tourist town of Windermere, this is a rare opportunity to acquire a prime piece of real estate.
Please note: businesses not included or for sale.
The Cafe is at present let to Snookes Family Limited, trading as Brew Room Windermere (with a personal guarantee), for a term of 15 years from 24th August 2022 at a current rent of £30,000 per annum payable monthly in advance plus a Service Charge of £5720 pa (paid quarterly, in advance and reviewed annually.)
The first rent review will be due August 2025, then every three years thereafter - open market upward only.
Break clause after 7 years.
There is no VAT payable on the rent.
A Private Agreement lays out the responsibilities of both the cafe tenant and the landlord regarding insurance, repairs and maintenance, as well as the method of calculating the Annual Service Charge.
Both flats are occupied on AST's with rent reviewed annually:
Flat 1 Rent: £12,000 per annum
Flat 2 Rent: £7200 per annum
The Rateable Value as of 1 April 2023 is £23,000. Confirmation of actual rates payable can be obtained from the local Authority.
Energy Performance Certificates
EPC 1Brochures
Crescent Road, 31 - 33 Crescent Road, Windermere, Cumbria, LA23 1BL
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- Windermere Station0.2 miles
- Staveley Station3.5 miles
Notes
Disclaimer - Property reference 6467082-fh. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Christie & Co, Pubs & Restaurants. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.
Map data ©OpenStreetMap contributors.