9 Oxford St
Workington CA14 2AL

Investment Consideration:
Gross Initial Yield: 8.00%
Rental Income: £4,800 p.a.
Shop under rented. ERV: £6,000 p.a. GIY: 10.00%
VAT is NOT applicable to this property
Comprises ground floor retail shop t/a deserts parlour
Situated on a main arterial route within short distance from the pedestrianised area of Pow Street, Washington Square and Ivison Lane
Occupiers close by include Peacocks, Holland & Barrett, Lloyds Bank, Superdrug, Argos, Savers and Specsavers amongst others.
Property Description:
Comprises ground floor shop (Class E), providing the following accommodation and dimensions:
Ground Floor: 50 sq m (538 sq ft)
open plan retail, storage, kitchen, wc
Tenancy:
The shop is at present let to an Individual for a term of 5 Years from 1st September 2023 at a current rent of £4,800 p.a. and the lease contains full repairing and insuring covenants. Rent review in September 2026 open market upward only. Tenant option to determine at any time with minimum 3 months notice. Deposit held of £400. Shop under rented. ERV: £6,000 p.a.
Tenure:
Long leasehold. To be held on a 999 year lease from completion at a ground rent of peppercorn.
Location:
Workington, with a population of some 25,000, is located on the Cumbrian coast and is served by the A66 and A596. Carlisle is some 35 miles north-east, Whitehaven 8 miles to the south, whilst Penrith and the M6 Motorway (Junction 40) are 40 miles to the east. The property is situated on a main arterial route within short distance from the pedestrianised area of Pow Street, Washington Square and Ivison Lane. Occupiers close by include Peacocks, Holland & Barrett, Lloyds Bank, Superdrug, Argos, Savers and Specsavers amongst others.