45/47 Murray Road & 51/53 Pow Street Workington Cumbria CA14 3AB

  • 45/47 Murray Road & 51/53 Pow Street<br>Workington<br>Cumbria<br>CA14 3AB

45/47 Murray Road & 51/53 Pow Street
Workington
Cumbria
CA14 3AB

Freehold Retail Parade Investment

  • Comprises an unbroken parade of four retail units
  • Let to retailers trading as Holland & Barrett, Ryman, Game and Greenwoods
  • Prominent town centre location close to the Washington Square Shopping Centre
  • Nearby occupiers include Debenhams, Marks & Spencer, Next, H&M, Boots, Superdrug and Costa
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot
    33
  • Auction
    25th May 2017
  • Rent
    £132,372 per Annum Exclusive
  • Status
    Sold Prior
  • Price
     
  • Sector
    High Street Retail
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • On Behalf of Moorfields Receivers
Important Update
  • Expand
  • Photos
  • Map

* More information on the term "price" can be found here

Freehold Retail Parade Investment

  • Comprises an unbroken parade of four retail units
  • Let to retailers trading as Holland & Barrett, Ryman, Game and Greenwoods
  • Prominent town centre location close to the Washington Square Shopping Centre
  • Nearby occupiers include Debenhams, Marks & Spencer, Next, H&M, Boots, Superdrug and Costa
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot 33
  • Auction 25th May 2017
  • Rent £132,372 per Annum Exclusive
  • Status Sold Prior
  • Price  
  • Sector
    High Street Retail
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • On Behalf of Moorfields Receivers

Property Information

Location
Miles
8 miles south-west of Cockermouth, 32 miles south-west of Carlisle
Roads
A66, A595, A596, M6
Rail
Workington Railway Station
Air
Newcastle Airport
Situation

Workington is a port town located on the west Cumbrian coast, a short distance from the Lake District National Park. The property is situated in a prominent corner location at the
junction of pedestrianised Pow Street and Murray Road in the heart of the town centre. The property is close to Washington Square Shopping Centre housing retailers including
Debenhams, Next, H&M, Pandora, Clarks and Costa. Other nearby occupiers include Marks & Spencer, Boots, Superdrug, Peacocks, Sports Direct and Iceland.

Tenure

Freehold.

Location
Miles
8 miles south-west of Cockermouth, 32 miles south-west of Carlisle
Roads
A66, A595, A596, M6
Rail
Workington Railway Station
Air
Newcastle Airport
Situation

Workington is a port town located on the west Cumbrian coast, a short distance from the Lake District National Park. The property is situated in a prominent corner location at the
junction of pedestrianised Pow Street and Murray Road in the heart of the town centre. The property is close to Washington Square Shopping Centre housing retailers including
Debenhams, Next, H&M, Pandora, Clarks and Costa. Other nearby occupiers include Marks & Spencer, Boots, Superdrug, Peacocks, Sports Direct and Iceland.

Tenure

Freehold.

Description

The property comprises an unbroken parade of four shops providing ground floor retail accommodation with ancillary accommodation on the first floor. The property benefits from
servicing to the rear.

VAT

VAT is applicable to this lot.

Note

This property is being marketed for sale on behalf of Fixed Charge Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Fixed Charge Receivers to the best of their knowledge, but the purchaser must rely solely upon their own enquiries. The Fixed Charge Receivers are not bound to accept the highest or any offer and are acting in respect of this sale without personal liability.

Completion Period

Six Week Completion

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

The property comprises an unbroken parade of four shops providing ground floor retail accommodation with ancillary accommodation on the first floor. The property benefits from
servicing to the rear.

VAT

VAT is applicable to this lot.

Note

This property is being marketed for sale on behalf of Fixed Charge Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Fixed Charge Receivers to the best of their knowledge, but the purchaser must rely solely upon their own enquiries. The Fixed Charge Receivers are not bound to accept the highest or any offer and are acting in respect of this sale without personal liability.

Completion Period

Six Week Completion

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

Unit Floor Use Floor Areas (Approx) Tenant Term Rent p.a.x Review/(Reversion)

45 Murray
Road
Ground
First
Retail/Ancillary Ancillary
144.28 sq m 106.84 sq m
(1,553 sq ft) (1,150 sq ft)
PARTNERS THE STATIONERS LIMITED
(1) t/a Ryman
5 years from
24/06/2015 (2)
£32,000
(23/06/2020)
47 Murray
Road
Ground
First
Retail/Ancillary Ancillary
74.32 sq m 66.80 sq m
(800 sq ft) (719 sq ft)
GREENWOODS MENSWEAR LIMITED
(3) t/a Greenwoods
10 years from
14/12/2007
£29,342
(13/12/2017)
51 Pow
Street
Ground
First
Retail/Ancillary Ancillary
93.18 sq m 77.95 sq m
(1,003 sq ft) (839 sq ft)
GAME RETAIL LIMITED (4)
15 years from 08/07/2003
£33,750
(07/07/2018)
53 Pow
Street
Ground
First
Retail/Ancillary Ancillary
122.35 sq m 109.44 sq m
(1,317 sq ft) (1,178 sq ft)
HOLLAND & BARRETT
INTERNATIONAL
LIMITED (5)
10 years from
06/11/2012
£37,280
06/11/2017
(05/11/2022)
Total
 
795.16 sq m
(8,559 sq ft)
    £132,372
 

(1) For the year ending 31st March 2016, Partners The Stationers Limited reported a total net worth of £1,808,000 (Source: Experian Group 01/05/2017).
(2) The lease is subject to a tenant option to determine on 23rd June 2018.
(3) Greenwoods is a men’s suit and fashion retailer with headquarters in Bradford and which began trading in 1860 (www.greenwoodsonline.com).
(4) For the year ending 30th July 2016, Game Retail Limited reported a turnover of £583,890,000, pre-tax profits of £6,868,000 and a total net worth of £72,104,000 (Source: Experian Group 01/05/2017).
(5) For the year ending 30th September 2015, Holland & Barrett International Limited reported pre-tax profits of £30,038,000 and a total net worth of £198,459,000 (Source: Experian Group 01/05/2017).

Property Documents

  • Catalogue Page
    Updated Date
    01.11.19
    File Size
    659 KB
    View PDF
  • Site Plan
    Updated Date
    01.11.19
    File Size
    2 MB
    View PDF
  • Common Auction conditions
    Updated Date
    10.06.21
    File Size
    168 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Associate Auctioneers
Dresler Smith Keneth Hodgson House, 18 Park Row
Leeds
LS1 5JA
0113 244 2828
David Dresler 0113 245 5599davidd@dreslersmith.co.uk
Seller's Solicitors
AMB Law 46 New Broad Street
London
EC2M 1JH
Stephen Carter 020 7329 4242scarter@amblaw.co.uk

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk

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