This is a rare opportunity to acquire an investment property in this popular market town. The property is Grade II Listed and comprises ground floor retail premises with WC and kitchenette facilities at the rear and basement retail area accessible via stairs leading down from the front of the shop. The shop sits behind an attractive full width glazed frontage with recessed access door. The freehold on the sale includes includes two long leasehold to the upper floors. Please note, the flats do not pay a regular rent, other than annual ground rent, if demanded. The leaseholder do contribute towards the cost of building repairs. *The leaseholders do cover all the costs of the building repairs, maintenance and annual service costs.*
Location
The property occupies a prime trading position on Main Street, nestling amidst other local individual shops, selling Jewellery, Homewares, Food and Restaurant outlets and also high-end public houses. Kirkby Lonsdale is a traditional Cumbria Market town and is a very popular tourist destination located between the popular Lake District and Yorkshire Dales National Parks. Kirkby Lonsdale is also a highly desirable residential location with excellent communication links.
Accommodation
Ground Floor - 421 sq ft (39.11 sq m)
Basement - 426 sq ft (39.58 sq m)
Total - 1,014 sq ft (94.2 sq m)
Terms
Services - We understand the property is connected with main water, electricity and gas.
EPC - Energy Performance Asset Rating: Band D
Terms - The property is available to purchase freehold at an asking price of £159,950, subject to the existing occupational lease and two long leasehold interests. The leases do allow the purchaser to put the property under a management company.
Business Rates - The ground floor and basement retail premises have been assessed to have a rateable value of £8,800 per annum. Rates Payable on the current 2022/23 multiplier are £4391.20.
Legal Costs - Each party will be responsible for their own legal costs incurred in the transaction.
VAT - All reference to price, premium or rent are deemed to be exclusive of VAT unless expressly stated.
Specification
- Prime Location
- Ground floor and basement retail areas
- Current Rental Income £12,000
- £159,950 For the Investment