Town Centre Commercial Investment Cumbria CA28

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Auction date: Wed, 17/07/2024 - 08:00

Guide Price £125,000 - £150,000. A high yielding town centre commercial investment comprising two adjoining properties (mid and end terrace) with separate accommodation. No.75 is arranged over three storeys and is let in full to an established DIY / Hardware tenant at £58,236 per annum whilst No.74, ground floor only, is let at £1,080. Collectively they currently produce a rental income of £59,316 which represents a yield well in excess of 30% (if purchased at auctioneer's quoted guide price). No.75 Market Place requires considerable remedial works to the external fascia, principally the frontage, and condition reports are included within the legal pack. The current tenants have also has served a section 26 notice for a new 10 year business tenancy at £40,000 per annum effective November 24. This is reflective of the inconvenience of the repair works required.

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