1 Stramongate, Kendal, Cumbria, LA9 4BH

LOCATION
The subject property is located on the corner of Stramongate and Kent Street, which is adjacent to Finkle Street and Market Place, the pedestrianized shopping streets for the town.

DESCRIPTION
The three-storey corner building has prominent frontage onto Stramongate and Kent Street, with convenient vehicle access available. The building has been operational as a SUBWAY for many years and remains the only one in Kendal town centre.

The tenant rents the whole of the property comprising basement stores, ground floor shop, first floor customer seating and office, plus second floor storage areas.

TENANCY SCHEDULE
The premises are let on a 15-year FRI lease, with no tenant break, from February 2025.
The passing rent is £21,000 per annum exclusive.

The building is let to Vaah Ltd (company number 15014740), 12 Redthorn Grove, Birmingham B33 8BE. Security against the lease is provided by way of personal guarantors from the company directors.

The rent can be reviewed on an upward-only basis in the 5th and 10th years of the lease.

SALE PRICE
This is an attractive freehold investment given the length of lease, security and potential to review the rent regularly. Offers in the region of £350,000 + vat are invited for the freehold investment.