5 Cornmarket, Penrith, Cumbria, CA11
Size
602
Tenure
Leasehold
EPC
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Parking
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- Primary use
- High street retail
- Frontage
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No floor / site plan
Key features
- Rental Income: £8,500 p.a.
- Gross Initial Yield: 8.95%
- Comprises ground floor retail shop with ancillary accommodation at basement
- Tenant trading as Dog Groomers on lease expiring 2032
Description
Gross Initial Yield: 8.95%
Rental Income: £8,500 p.a.
VAT is NOT applicable to this property
Comprises ground floor retail shop with ancillary accommodation at basement
Tenant trading as Dog Groomers on lease expiring 2032
Review rent on 3rd anniversary linked to RPI with 1% collar and 3% cap per annum
Situated in the heart of Penrith, with occupiers nearby including Domino's, Betfred and more.
Property Description:
Comprises ground floor retail shop trading as a dog groomers with ancillary accommodation at basement, providing the following accommodation and dimensions:
Ground Floor: 40 sq m (430 sq ft)
Open plan retail, Storage, Kitchenette, WC
Basement: 16 sq m (172 sq ft)
Open plan storage
Tenancy:
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 with 6 months' notice. Deposit held of £2,125.
Tenure:
Long leasehold. To be held on a 999 year lease from completion at a ground rent of peppercorn.
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.
- Service charge
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- Business rates
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- Use class
- E
- Listed building
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- Floors in building
- 2
- Tenure
- Leasehold
- Length of lease
- 999 years left
An Energy Performance certificate helps you understand the current energy efficiency of a property.
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- BREEAM rating
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- Environmental description
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Brochure
5 Cornmarket, Penrith, Cumbria, CA11
About BLUE ALPINE PARTNERS LIMITED, London
Blue Alpine is a UK-wide property consultancy based in central London, focusing on commercial property, developments and residential blocks. Our services include disposals, acquisitions, lettings, auction advice, planning and architecture, dilapidations, and surrenders of leases.
Blue Alpine plans and delivers solutions that manage risk, optimise benefits, and expand the power of capital to protect and strengthen portfolios. By employing a transparent and consultative approach, we can assess and manage your current portfolio to devise a forward-looking investment plan and, if necessary, an exit strategy.
We are dedicated to disrupting the commercial property industry by delivering exceptional solutions that prioritise honesty, transparency, integrity, and providing an unparalleled client experience. Our team consists of knowledgeable professionals with a strong background in commercial property, enabling us to help clients around the world turn property into a path for growth.
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Disclaimer - Property reference 5cornmarketlh. 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 BLUE ALPINE PARTNERS LIMITED, 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.