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The property comprises a high yielding retail investment opportunity situated in the centre of a popular tourist town.
Arranged across basement, ground, first and second floors, the property is let in its entirety to Cancer Research UK; one of the UKs most well known charities. The lease is for a term of 10 years expiring 15/12/2029 and is currently paying £30,000 per annum.
The property is located in the centre of Kendal, an affluent and desirable town that is both an administrative centre for Cumbria and the gateway to the Lake District. The property therefore benefits from excellent footfall, particularly from tourists and walkers, throughout the year. Nearby occupiers include Edinburgh Woollen Mill, Greggs, and TK Maxx.
Tenure
Leasehold - 999 Years from 25/09/2014 at a Peppercorn Rent
Tenancy
The property is let in its entirety to Cancer Research UK; one of the UKs best known and established charities. The lease is for a term of 10 years expiring 15/12/2029 and paying a rent of £30,000 per annum.
The lease is on full repairing and insuring terms and includes an upward only, open market, rent review in 2024. There is also a tenants break option on this date.
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