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    Key features

    • To be offered on Tuesday 3 September
    • High Yielding Retail Investment
    • Two Retail Units and Upper Parts
    • Fully Let to Two Tenants - Producing £59,316 per annum
    • Tenant in Occupation for 25+ Years
    • Asset Management Potential
    • 9,748 sq ft (905.5 sq m)
    • Prominent Corner Pitch
    • Established and Popular Location
    • Guide Price Reflects 59.3% Gross Yield

    Description

    The property comprises a high yielding retail investment opportunity occupying a prominent corner pitch in the heart of Whitehaven.

    Arranged across ground, first and second floors, the property is principally let to The Haven Homes Centre, a longstanding tenant of over 25 years, paying a rent of £58,236 per annum. We understand no formal lease agreement exists however the tenant has served a Section 26 notice requesting a new 10 year lease of the ground and first floors at £40,000 per annum.

    74 Market Place is arranged across ground floor only and is let to a tenant trading as Baccy Bird and paying £1,080 per annum. We understand no formal lease agreement exists however the tenant has been in occupation for over 10 years.

    The property therefore presents an evident asset management opportunity via formalisation of the current occupancy, which is on an informal basis. There may also be further opportunities to obtain vacant possession of upper parts in order to potentially convert to alternative uses (subject to obtaining any requisite consents).

    The property occupies a prominent corner pitch fronting both the partially-pedestrianised Market Place, the Market Square and Whitehaven Waterfront. Nearby occupiers include Costa, Greggs and Newlook

    Additional information

    Tenure

    Freehold

    Rent

    £59,316 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. Some of the photos are historic and are for illustrative purposes.


    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.

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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.

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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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