5 Cornmarket, Penrith, Cumbria CA11 7DA
- PROPERTY TYPE
Commercial Property
- SIZE
Ask agent
Key features
- To be offered on Wednesday 5 November
- A mid terrace ground floor lock up shop
- Tenant trading as Dog Groomers on lease expiring 2032
- Total GIA: 56 sq m (602 sq ft)
- VAT is NOT applicable to this property
- Situated in the heart of Penrith, with occupiers nearby including Domino’s, Betfred and more.
- Investment let at £8,500 per annum (12.1% GIY on guide price).
Description
StrapLine
Auction Sale - 05/11/2025 - To book viewings, view the legal pack and register to bid please refer to the full sales particulars on the Savills Auctions websiteThe property comprises a ground floor retail shop with ancillary accommodation at basement
Investment let at £8,500 per annum (12.1% GIY on guide price).
Description
The property comprises a ground floor retail shop trading as a dog groomers with ancillary accommodation at basement
investment let at £8,500 per annum (12.1% GIY on guide price).
Located in Penrith, Cumbria
Location
Penrith is a popular market town on the fringe of the Lake District National Park adjacent to junction 40 of the M6 motorway, and the A66 Trans Pennine Trunk Road interchange; has a railway station serving the main West Coast Line between London and Scotland. The town is 20 miles south of Carlisle and 28 miles north of Kendal, the nearest competitive retail centres. Penrith has a resident population circa 16,000 with a local authority catchment in the region of 50,000. Cornmarket has a good trading position in the town and benefits from a range of national occupiers having a presence in the immediate vicinity including Domino’s, Betfred and Vision Express.
Tenancy
5 Cornmarket
The property is let to an Individual t/a Dog Groomer for a term of 6 years 11 months from 9th May 2025 at current rent of £8,500 p.a. and the lease contains full repairing and insuring covenants. Review rent on 3rd anniversary linked to RPI with 1% collar and 3% cap per annum. Tenant has right to determine lease on 9th May 2027. Rent deposit is held of £2,125.
Accommodation
Ground Floor: 40 sq m (430 sq ft) Open plan retail, Storage, Kitchenette, WC
Basement: 16 sq m (172 sq ft) Open plan storage
Total: 56 sq m (602 sq ft)
5 Cornmarket, Penrith, Cumbria CA11 7DA
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- Penrith Station0.2 miles
- Langwathby Station4.1 miles
Notes
Disclaimer - Property reference 196-19359. 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 Savills Auctions, London. 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.
Auction Fees: The purchase of this property may include associated fees not listed here, as it is to be sold via auction. To find out more about the fees associated with this property please call Savills Auctions, London on 020 3909 6715.
*Guide Price: An indication of a seller's minimum expectation at auction and given as a “Guide Price” or a range of “Guide Prices”. This is not necessarily the figure a property will sell for and is subject to change prior to the auction.
Reserve Price: Each auction property will be subject to a “Reserve Price” below which the property cannot be sold at auction. Normally the “Reserve Price” will be set within the range of “Guide Prices” or no more than 10% above a single “Guide Price.”
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