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The property comprises a high yielding retail investment let to one of the UKs best known retailers and occupying a prime pitch on a pedestrianised street in Kendal, a popular tourist destination.
Arranged across ground, first and second floors, the property is fully let to WH Smith Retail Holdings Limited on a five year lease expiring 09.12.2027 and paying £55,000 per annum. The tenant is a long standing occupier having been in occupation prior to 2017 and renewing their lease in 2022.
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 is situated in the heart of Kendal, with frontages to Sricklandgate and the pedestrianised market place, the property therefore benefits from high levels of footfall and enjoys low levels of vacancy. Nearby occupiers include Holland & Barrett, TK Maxx, Pizza Express, Costa and Waterstones.
Tenure
Freehold
Tenancy
The property is fully let to WH Smith Retail Holdings Limited on a five year lease expiring 09.12.2027 and paying £55,000 per annum. The tenant is a long standing occupier having been in occupation prior to 2017 and renewing their lease in 2022 at a rebased rent, displaying confidence in the location.
The lease is on full repairing and insuring terms and includes a tenants break option in 2026.
Rent