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20 May 2026 20 May 2026 - 9:00am >
Lot 109
20 May 2026: Wednesday 20 May 2026 - 9:00am
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TBA
Hammer price
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Key features
- Prominent Grade II Listed City Centre Leasehold Shopping Centre Investment
- Well positioned in the citys key shopping area
- Comprising shops, offices and a substantial food hall
- Arranged over 7,907 sq m (85,110 sq ft)
- Tenants include B&M, TK Maxx and local occupiers
- Recently undergone a major refurbishment
- VAT is applicable (TOGC intended)
- Total Current Gross Rents £394,500 per annum (reflecting 14.34% GIY)
Description
The Grade II listed property comprises a historic covered Victorian market hall, two large retail units and a retail arcade located at the entrance of the market hall.
The market hall is one of the few covered Victorian Markets remaining in the UK.
The Eden Centre comprises two large anchor store retail units currently let to TK Maxx and B&M. TK Maxx trade from first floor only while B&M trade from ground floor.
The market has public entrances on Scotch Street and West Tower Street, where a number of bus stops are located servicing local bus routes to Morton, Kingstown,Houghton and Blackwell.
Additional information
Tenure
Leasehold. The property is held on a long lease from Carlisle City Council for a term of 99 years from 25 March 1991 expiring 24 March 2090 (thus having approximately 66 years unexpired) The head rent equates to 20% of the net rents received for the property per annum.
There is an option to renew for a further 51 years which can be exercised no sooner than 21 years prior to expiry which if actioned would improve the unexpired term to 117 years.
The buyer would also benefit from a pre-emptive right in the event that the council dispose of their freehold interest in the premises.
Accommodation
Please see the below schedule of accommodation and tenancies;
Total area: 7,907 sq m (85,110 sq ft)
Tenancy
Please see the below schedule of accommodation and tenancies
Rent
£394,500 per annum
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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