Home > Auctions > 18 & 19 March 2025 18 March 2025 - 9:00am > Lot 202

18 & 19 March 2025: Tuesday 18 March 2025 - 9:00am
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    Key features

    • To be offered on Tuesday 8th April
    • Current tenants include the Beggars Theatre, mind charity shop, Lyns Hairdressing Salon, Curry Spice Indian restaurant and takeaway, two spacious one bed flats and four medium to large storage units
    • The property is arranged with Curry Spice, Lyns Hairdressing Salon and Mind Charity Shop on the ground floor, and upper floors with separate entrances, Beggars Theatre, and flats one and two
    • Prime town centre location with available parking
    • VAT not applicable
    • High Yielding Investment (13.19% on Guide Price)
    • Investment let at £34,788 p.a.

    Description

    A mixed commercial and residential investment located in the main town of Millom with available parking at the front and within easy reach of various schools and supermarkets.


    The property is arranged with Curry Spice, Lyns Hairdressing Salon and Mind Charity Shop on the Ground Floor, and Upper Floors with separate entrances, beggars theatre and flats one and two


    Two storage units are available to rent and a third will be coming available which would provide £60 per week income


    Flat two is due for an increase from £338 a month to approx £450 giving a potential increase £4420

    Flat one is due to be relet at approx £450 per month


    The 3,000 sq ft theatre may be suitable for potential residential development, with the possibility of converting it into 5 to 6 flats, subject to the existing leases and necessary consents, which would boost income and property value considerably

    Additional information

    Tenure

    Freehold.

    Accommodation

    Please refer to Accommodation and Tenancy schedule

    Tenancy

    Please refer to Accommodation and Tenancy schedule

    Planning

    The theatre may be suitable for potential redevelopment to residential development, subject to the leases in place and subject to consents.


    All enquiries in this regard should be directed towards the local authority: The Copeland Borough Council


    Website: https://www.copeland.gov.uk/


    Tel: 01946 598300

    Rent

    £34,788 p.a.

    Notes

    Please note the areas provided are approximate. The photos and any drawings are for illustrative purposes only and may not reflect the exact boundary of the property.


    The property has not been internally inspected by Savills. Prospective purchasers must rely upon their own enquiries in this regard.


    Please refer to the legal pack. Additional charges and fees might be charged by the seller and/or other third parties. You are strongly advised to read the Special Conditions of Sale for the Lot prior to bidding to check for any additional charges and fees.

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        All viewings at this property have now taken place prior to the auction. For further information on the property please download the legal pack or email the property contact.

        Savills are not holding any viewings for this property. For further information please download the legal pack or email the relevant Savills Contact directly.

        Viewings are in the process of being finalised and will be online shortly, please click here for a notification when they go online.

        No set viewings will be available on this property prior to auction due to the tenants in situ. Please refer to the legal pack for further information.

        No set viewings will be available on this property prior to auction due to safety concerns within the property. Please refer to the legal pack for further information.

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        Accommodation / Tenancy Schedule

        Local information

        • The property is located in the coastal town of Millom, a picturesque area on the edge of the Lake District, near a beach, with established camp sites close by, and within easy reach of various schools and supermarkets
        • It benefits from proximity to major employers, including British Aerospace and the Sellafield nuclear processing plant, as well as a strong tourist trade supported by large, established campsites.
        • Millom is approximately 23 miles north of Barrow-in-Furness and 32 miles south of Whitehaven, in southwest Cumbria, on the edge of the Lake District.
        • The property itself is prominently positioned just 0.2 miles from Millom Railway Station.
        Transport

        Road -

        Connected to the A5093 leading to Barrow-in-Furness (about 23 miles to the southwest)


        Railway -

        0.1 miles from Millom Station

        2.6 miles from Green Road Station

        2.9 miles from Silecroft Station

        Legal documents

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        EPC rating

        If no EPC rating appears please refer to the legal pack.

        Guide prices and common auction conditions

        •Guide prices given are indications within 10% upwards or downwards of where the reserve price may be set at the time of going to print. Please note they are not an indication of the anticipated sale price or a valuation.

        •The reserve price is the minimum price at which the property can be sold.

        •Both the guide price and reserve price may be subject to change up to and including the day of the auction.

        •For unsold properties after an auction an Available price may be listed. This is the price that the seller(s) are looking for post auction, subject to contract and no higher offers, and has no relation to the guide prices listed prior to the auction sale.

        Please note that all prices listed, whether prior to or post auction, are subject to contract.

        The Auctioneers and sellers accept no responsibility for any loss, cost or damage that a buyer may incur as a result of relying on any guide price. It is the buyer's responsibility to decide how much they should bid for any lot. Please check with us for regular updates as guide prices are subject to change prior to the auction.

        The guide price does not include the buyer's fee charged by the auctioneer or VAT which may apply to the sale or other amounts the seller may charge. The seller's Special Conditions of Sale will state whether there are other seller's charges and whether the seller has elected to charge VAT on the sale price.

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