Entirely let to Coral Racing Limited (not in occupation) until September 2031 (No breaks)
Ground floor former betting office with separately-accessed refurbished flat above (sublet)
VAT-free investment
Established commercial and residential location - 100m from Kendal Railway Station
Opposite newly-developed retirement scheme of 55 apartments.
Nearby occupiers include Lidl, Homebase, Bensons for Beds and a number of independent retailers and takeaways
Popular Lake District Centre
Lot 53
Auction 25th September 2024
Rent £18,528 per Annum Exclusive
Status Available
Guide* £150,000
Sector High Street Retail/Residential
Auction Venue Live Streamed Auction
Property Information
Location
Miles
47 miles south of Carlisle, 70 miles north of Manchester
Roads
A6, A590, A684, M6 (Junction 36)
Rail
Kendal Railway Station
Air
Newcastle Airport
Situation
The property is situated at the busy junction of the A6 and A685, some 100 metres from Kendal Railway Station and directly opposite a newly-developed retirement scheme providing 55 one and two bed apartments. Nearby occupiers include Lidl, Homebase, Bensons for Beds and a number of independent retailers and takeaways.
Tenure
Freehold.
Location
Miles
47 miles south of Carlisle, 70 miles north of Manchester
Roads
A6, A590, A684, M6 (Junction 36)
Rail
Kendal Railway Station
Air
Newcastle Airport
Situation
The property is situated at the busy junction of the A6 and A685, some 100 metres from Kendal Railway Station and directly opposite a newly-developed retirement scheme providing 55 one and two bed apartments. Nearby occupiers include Lidl, Homebase, Bensons for Beds and a number of independent retailers and takeaways.
Tenure
Freehold.
Description
The property comprises a shop arranged on the ground floor, with a separately-accessed and refurbished one-bed flat on the first floor.
VAT
VAT is not applicable to this lot.
Completion Period
Six Week Completion
EPC
Commercial - Band B
Residential - Band C
Description
The property comprises a shop arranged on the ground floor, with a separately-accessed and refurbished one-bed flat on the first floor.
VAT
VAT is not applicable to this lot.
Completion Period
Six Week Completion
EPC
Commercial - Band B
Residential - Band C
Tenancy & Accommodation
Floor
Use
Floor Areas Approx sq m
Floor Areas Approx sq ft
Tenant
Term
Rent p.a.x.
Rent Review
Ground First
Retail/Ancillary Residential - 1-bed flat with kitchen & bathroom
60.20 39.00
(648) (419)
CORAL RACING LIMITED (1)
20 years from 24/09/2011 on a full repairing and insuring lease
£18,528
24/09/2026
Total
99.20
(1,067) (2)
£18,528
(1)For the year ending 31/12/2022, Coral Racing Limited reported a Net Worth of £83,537,000 (Northrow 27/08/2024). The first floor flat is sublet on a 12-month AST. (2) Commercial floor areas provided by VOA (www.voa.gov.uk); residential floor areas provided by the EPC register.
If you are the successful bidder, Acuitus requires a separate payment of £1,500+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.
