1, 2 and 3 Market Street, Carlisle, Cumbria CA3 8QJ
- PROPERTY TYPE
Commercial Property
- SIZE
Ask agent
Key features
- To be offered on Wednesday 5 November
- Retail Investment
- Comprises 3 retail ground floor shops t/a Cafe and Bicycle Retailer (double unit)
- Total GIA: 156.46 sq m (1,684 sq ft)
- VAT is NOT applicable to this property
- Occupiers nearby include The Market Hall Shopping Centre, TK Maxx, Barbers and more
- Investment let at £14,000 per annum (11.2% 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 websiteA retail investment opportunity. Comprising 3 retail stores trading as a Café and Bicycle Retailer (double unit) at ground floor.
Investment fully let at £14,000 per annum
(11.2% GIY on guide price).
Located in Carlisle, Cumbria
Description
Comprises 3 retail ground floor shops t/a Bicycle Retailer (No.1-2) and a Cafe (No.3),
investment let at £14,000 per annum (11.2% GIY on guide price).
Location
Carlisle is a border city and the county town of Cumbria. The town is located 8 miles south of the Scottish border at the confluence of the rivers Eden, Caldew and Petteril. Carlisle is the only city in Cumbria. The city centre is largely pedestrianised and the Lanes shopping centre is home to around 75 shops. Carlisle is linked to the rest of England via the M6 motorway to the south, and to Scotland via the M74/A74 towards Glasgow and the north. The property is located in the town centre with occupiers nearby include The Market Hall Shopping Centre, TK Maxx, Restaurants, Barbers and more
Tenancy
Ground floor shop No. 1-2 is let to Long May You Ride Ltd for a term of 6 years from 1st October 2024 at current rent of £8,500 p.a. and the lease contains full repairing and insuring covenants. Fixed increase of rent to £9,000 p.a. on the 4th anniversary of the lease. Tenant has right to determine lease on the 3rd anniversary with 6 months' notice.
Ground floor shop No. 3 is let to Crème Cafe Cycles Ltd for a term of 6 years from 1st October 2024 at current rent of £5,500 p.a. and the lease contains full repairing and insuring covenants. Fixed increase of rent to £6,000 p.a. on the 4th anniversary of the lease. Tenant has right to determine lease on the 3rd anniversary with 6 months' notice.
Accommodation
Shop No. 1-2:
Ground Floor Sales 94.4 sq m (1,016 sq ft)
Rear Store 13.5 sq m (146 sq ft)
Kitchen 2.6 sq m (28 sq ft)
Total: 110.5 sq m (1,190 sq ft)
Shop No.3:
Ground Floor Sales/Café 32.54 sq m (350 sq ft)
Kitchen and Storage 13.42 sq m (144 sq ft)
Total: 45.96 sq m (494 sq ft)
Total GIA: 156.46 sq m (1,684 sq ft)
1, 2 and 3 Market Street, Carlisle, Cumbria CA3 8QJ
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- Carlisle Station0.4 miles
- Dalston Station4.0 miles
- Wetheral Station4.3 miles
Notes
Disclaimer - Property reference 196-19356. 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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