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    Key features

    • High Yielding Retail Investment
    • Let on a Lease Expiring 11/08/2026 Producing £24,000 per annum
    • Significant Upper Parts
    • 6,443 sq ft (598.6 sq m)
    • Prominent Frontage on Popular Street
    • Established Tourist Location
    • Development/Conversion Potential (subject to planning)
    • Guide Price Reflects Gross Yield of 12%
    • No VAT

    Description

    The property comprises a large prominent building located on one of the principal tourist street in Kendal.

    Arranged across ground, first and second floors, the property is let in its entirety to the Kendal Bed Centre Limited paying a rent of £24,000 per annum on a lease that expires 11/08/2026.

    The tenant is currently holding over and there is therefore an opportunity to explore development/conversion of the upper parts to alternative uses, including residential (subject to obtaining the requisite consents). Draft plans have been drawn up for a conversion to provide 2 x flats and can be provided upon request.

    Situated on Stramongate, the property occupies a prominent position on one of the principal tourist and retail streets in Kendal. The property is adjacent to Stramongate Bridge, which is the principal pedestrian crossing of the River Kent and also the main pedestrian access to Central Kendal from the station. Kendal is considered the gateway to the Lake District National Park and sees high volumes of footfall throughout the year.

    Additional information

    Tenure

    Freehold

    Tenancy

    The property is let in its entirety to the Kendal Bed Centre Limited on a lease which expires 11/08/2026. The lease is on full repairing and insuring terms paying a rent of £24,000 per annum.


    The lease is within the Security of Tenure provisions of the Landlord and Tenant 1954 Act.

    Planning

    Whilst there are no extant planning consents, the upper parts of the property may be suitable for conversion to alternative uses, including residential.


    Draft plans have been drawn up for a potential conversion to provide 2 x two bedroom flats in addition to 3 two bedroom cottages in place of the rear ground and first floor showroom  (subject to obtaining the requisite consents).

    Rent

    £24,000 per annum
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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.

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      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.

      There are no formal viewings for this property. You can visit during commercial trading hours as a customer.

      Local information

      • Kendal Station - 0.2 miles
      • Pedestrianised Retail Area - 0.2 miles

      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.

      Addendums