45/47 Murray Road & 51/53 Pow Street Workington Cumbria CA14 3AB

45/47 Murray Road & 51/53 Pow Street
Workington
Cumbria
CA14 3AB

Freehold Retail Parade Investment

Comprises an unbroken parade of four retail units
Let to retailers trading as Holland & Barrett, Ryman, Game and Greenwoods
Prominent town centre location close to the Washington Square Shopping Centre
Nearby occupiers include Debenhams, Marks & Spencer, Next, H&M, Boots, Superdrug and Costa
For the Seller's Legal Pack, please click the Property Documents tab below

Lot
33
Auction
25th May 2017
Rent
£132,372 per Annum Exclusive
Status
Sold Prior
Price
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG
On Behalf of Moorfields Receivers

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Freehold Retail Parade Investment

Comprises an unbroken parade of four retail units
Let to retailers trading as Holland & Barrett, Ryman, Game and Greenwoods
Prominent town centre location close to the Washington Square Shopping Centre
Nearby occupiers include Debenhams, Marks & Spencer, Next, H&M, Boots, Superdrug and Costa
For the Seller's Legal Pack, please click the Property Documents tab below

Lot 33
Auction 25th May 2017
Rent £132,372 per Annum Exclusive
Status Sold Prior
Price
Sector
High Street Retail
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG
On Behalf of Moorfields Receivers

Property Information

Location

Miles: 8 miles south-west of Cockermouth, 32 miles south-west of Carlisle
Roads: A66, A595, A596, M6
Rail: Workington Railway Station
Air: Newcastle Airport

Situation

Workington is a port town located on the west Cumbrian coast, a short distance from the Lake District National Park. The property is situated in a prominent corner location at the
junction of pedestrianised Pow Street and Murray Road in the heart of the town centre. The property is close to Washington Square Shopping Centre housing retailers including
Debenhams, Next, H&M, Pandora, Clarks and Costa. Other nearby occupiers include Marks & Spencer, Boots, Superdrug, Peacocks, Sports Direct and Iceland.

Tenure

Freehold.

Location

Miles: 8 miles south-west of Cockermouth, 32 miles south-west of Carlisle
Roads: A66, A595, A596, M6
Rail: Workington Railway Station
Air: Newcastle Airport

Situation

Tenure

Freehold.

Description

The property comprises an unbroken parade of four shops providing ground floor retail accommodation with ancillary accommodation on the first floor. The property benefits from
servicing to the rear.

VAT

VAT is applicable to this lot.

Note

This property is being marketed for sale on behalf of Fixed Charge Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Fixed Charge Receivers to the best of their knowledge, but the purchaser must rely solely upon their own enquiries. The Fixed Charge Receivers are not bound to accept the highest or any offer and are acting in respect of this sale without personal liability.

Completion Period

Six Week Completion

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

The property comprises an unbroken parade of four shops providing ground floor retail accommodation with ancillary accommodation on the first floor. The property benefits from
servicing to the rear.

VAT

VAT is applicable to this lot.

Note

Completion Period

Six Week Completion

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

Unit	Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Review/(Reversion)
45 Murray Road	Ground First	Retail/Ancillary Ancillary	144.28 sq m 106.84 sq m	(1,553 sq ft) (1,150 sq ft)	PARTNERS THE STATIONERS LIMITED (1) t/a Ryman	5 years from 24/06/2015 (2)	£32,000	(23/06/2020)
47 Murray Road	Ground First	Retail/Ancillary Ancillary	74.32 sq m 66.80 sq m	(800 sq ft) (719 sq ft)	GREENWOODS MENSWEAR LIMITED (3) t/a Greenwoods	10 years from 14/12/2007	£29,342	(13/12/2017)
51 Pow Street	Ground First	Retail/Ancillary Ancillary	93.18 sq m 77.95 sq m	(1,003 sq ft) (839 sq ft)	GAME RETAIL LIMITED (4)	15 years from 08/07/2003	£33,750	(07/07/2018)
53 Pow Street	Ground First	Retail/Ancillary Ancillary	122.35 sq m 109.44 sq m	(1,317 sq ft) (1,178 sq ft)	HOLLAND & BARRETT INTERNATIONAL LIMITED (5)	10 years from 06/11/2012	£37,280	06/11/2017 (05/11/2022)
Total			795.16 sq m	(8,559 sq ft)			£132,372

(1) For the year ending 31st March 2016, Partners The Stationers Limited reported a total net worth of £1,808,000 (Source: Experian Group 01/05/2017).
(2) The lease is subject to a tenant option to determine on 23rd June 2018.
(3) Greenwoods is a men’s suit and fashion retailer with headquarters in Bradford and which began trading in 1860 (www.greenwoodsonline.com).
(4) For the year ending 30th July 2016, Game Retail Limited reported a turnover of £583,890,000, pre-tax profits of £6,868,000 and a total net worth of £72,104,000 (Source: Experian Group 01/05/2017).
(5) For the year ending 30th September 2015, Holland & Barrett International Limited reported pre-tax profits of £30,038,000 and a total net worth of £198,459,000 (Source: Experian Group 01/05/2017).