Withdrawn
Withdrawn Prior
Sold
Sold Prior
Sold Post
The property comprises a high yielding mixed use investment let to an established convenience store operator.
Arranged across ground, first and second floors, the property is let to Morrisons Daily on a new 10 year lease expiring November 2033 and paying a rent of £15,000 per annum.
The majority of the upper parts are vacant and benefit from a separate access. We understand this was formerly used as residential accommodation and includes nine rooms. It is considered the property may be suitable for conversion to provide multiple residential units (subject to obtaining the requisite consents).
Milnthorpe is a popular market town on the border of the Lake District. The property offers some of the only grocery retail amenity in the town and sits with a prominent frontage to the central square.
Tenure
Freehold
Tenancy
The ground and part of the first floor is let to Alliance Property Holdings Limited (t/a Morrisons Daily). The tenant was formerly McColl's but was purchased and is now part of the Morrisons group of companies.
The lease is for a term of 10 years expiring 15/11/2033 and paying a rent of £15,000 per annum. The lease is on full repairing and insuring terms and includes a tenants break option in the 5th year.
Alliance Property Holdings Limited
Turnover (2022) - £463,013,000
Total Assets (2022) - £320,900,000
Alliance Property Holdings is the holding company for the former 1,100 convenience stores purchased by the Morrisons Group of companies.
Rent