55 High Street, Cleator Moor, Cumbria, CA25

Investment Consideration:
Gross Initial Yield: 9.23%
Rental Income: £6,000 p.a.
VAT is NOT applicable to this property
Completely refurbished in 2024 to a high standard
Comprises corner ground floor shop with ancillary accommodation at basement
Located in the heart of the town centre with occupiers nearby including Greggs, Age UK and more.

Property Description:
Comprises corner ground floor shop with ancillary accommodation at basement. The property has been completely refurbished in 2024 and provides the following accommodation and dimensions:
Ground Floor/Basement Shop:
Main Shop - 45 sq m (484 sq ft)
Rear Store - 12 sq m (129 sq ft)
Basement - 40 sq m (430 sq ft)
Total area size: 97 sq m (1,043 sq ft)

Tenancy:
The shop is at present let to an Individual t/a Hair Salon for a term of 5 years from 10th March 2025 at a current rent of £6,000 p.a. and the lease contains full repairing and insuring covenants. Rent review on 10.03.28 linked to RPI. Tenant option to determine on 10.08.27 with min 3 months notice. Deposit held of £1,500. Lease within Landlord & Tenant Act 1954. Tenant has paid 1st Year rent in advance. Vendor will top up rent until 10.03.26 so the buyer receives the equivalent to £6,000 p.a. from completion.

Tenure:
Long Leasehold. To be held on a 999 Year lease from completion at a ground rent of peppercorn.

Location:
Cleator Moor is a town, civil parish and two electoral wards in the English county of Cumbria and within the boundaries of the historic county of Cumberland. The area offers a wide range of public transport choices and there are ample public parking spaces in the vicinity. There are bus stops located near to the site, the closest being approximately 98ft from the site. Bus service 30 route is Maryport to Thornhill/Frizington and service SX9 is Asby to Workington. Occupiers nearby including Greggs, Age UK, Opticians, Butchers, Restaurants and more.