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Crescent Road, 31 - 33 Crescent Road, Windermere, Cumbria, LA23 1BL

£750,000

Business rates & charges may apply

Christie & Co, Pubs & Restaurants
SIZE

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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

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

Location

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.

The Opportunity

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.

Tenancy

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

Regulatory

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 1

Brochures

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

About Christie & Co, Pubs & Restaurants

Whitefriars House, 6 Carmelite Street, London, EC4Y 0BS

We’re the leading specialist advisor for buying and selling businesses in our sectors - hotels, pubs, restaurants, childcare, healthcare, convenience retail, leisure and medical.

If you’re looking to buy or sell a business in our specialist sectors – from a pharmacy in Sussex to a hotel in Austria – our expert advice and collaborative support will help you achieve your goals. You may be an independent first-time buyer or a multinational adding to your portfolio; either way, you’ll discover that our personalised service is focused on helping you achieve your ambitions.

Clients have access to our carefully managed network of potential buyers. This unique database of contacts has been continually developed by our advanced IT capabilities and benefits from both our years of experience developing our network and our wide geographical coverage.

Where we work

We employ the largest team of sector specialists in the UK and the largest group of hotel specialists in Europe, providing professional brokerage and advisory services from offices in major cities across Britain and Europe. And because we’ve been doing this for over 80 years, we know our sectors and local markets inside out. We work closely with our clients to guide and conclude transactions of any size, covering hotels, restaurants and pubs, leisure, forecourts and convenience retail businesses, social care and elderly care, childcare & education facilities, dental practices and pharmacies.

Our professional services

We offer unrivalled insight, experience and expertise across your choice of services, including brokerage, consultancy, finance, development, investment, surveying, rent reviews, dispute resolution, corporate valuation, and turnaround & recovery. These services are all underpinned by our in-depth market intelligence and leading-edge technology. And we’re accredited by the Royal Institution of Chartered Surveyors (RICS), so you can trust in our professionalism.

What makes us tick

Businesses are about people, so relationships matter to us. We bring an integrity and transparency to business which can be all too rare – and that’s why people trust us. Our clients will attest to our genuine desire to help achieve their objectives, our attention to detail, and our tireless hard work on their behalf. We understand that buying a business can bring its own pressures and strains; needs can change, plans may need to be adjusted, and opportunities can come and go. But we’re always here, a constant, flexible and reliable force you can count on.

Our opening hours for all offices:

Mon – Fri, 9am – 5.30pm

Notes

These notes are private, only you can see them.

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.

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