(GROSS YIELD 11.2%)
APPROX 14 YEARS UNEXPIRED WITHOUT BREAKS
On this busy road close to the junction with Vulcans Lane near to a Co-Op Funeralcare, Job Centre Plus, Age UK, Swinton, Cumberland Building Society and a host of established traders, close to the town's bus station and County Library and being a short walk from the main shopping area of Murray Road.
Workington lies on the main A66 some 8 miles from Cockermouth, 22 miles from Keswick and 40 miles from the M6 (Junction 40) at Penrith.
A terraced building comprising a Ground Floor Double Restaurant/Take-Away with Basement Storage plus separate front access to 2 Self-Contained Flats above.
Ground Floor Double Restaurant/Take Away
Gross Frontage 33'0"
Internal Width 28'8'
Restaurant Depth 37'10" (max)
Built Depth 66'1"
Restaurant Area Approx 960 sq ft
Kitchen Area Approx 555 sq ft
plus Male & Female WCs
Area Approx 555 sq ft
Total Commercial Area Approx 2,070 sq ft
First & Second Floor Flat (above No 10)
3 Bedrooms, Living Room, Kitchen, Bathroom/WC
(GIA Approx 1,300 sq ft)
First & Second Floor Flat (above No 12)
2 Bedrooms, Living Room, Kitchen, Bathroom/WC
(GIA Approx 1,230 sq ft)
VAT is NOT applicable to this Lot
The entire property is let on a full repairing and insuring lease to Luqi Zhao as a Chinese Restaurant for a term of 20 years from 24th January 2011 at a current rent of £18,500 per annum exclusive.
Rent Reviews 2016 (Outstanding), 2021 and 2026
Note 1: No. 14 Oxford Street (Single Shop & Flat) was let at £16,200 p.a. and sold freehold for £130,000 in May 2015.
Note 2: 6 Week Completion