5-7A King Street (also known as 17-21 New Street) Whitehaven Cumbria CA28 7LA

5-7A King Street (also known as 17-21 New Street)
Whitehaven
Cumbria
CA28 7LA

Freehold Retail Investment

Entirely let to Peacocks Stores Limited
Pedestrianised Town Centre Location
Nearby occupiers include The Carphone Warehouse, WH Smith, Clarks, Boots the Chemist and Costa
For the Seller's Legal Pack, please click the Property Documents tab below
For a Buyer's Legal Report please click <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>

Lot
66
Auction
11th February 2016
Rent
£51,000 per Annum Exclusive
Status
Sold
Price
£430,000
Auction Venue
Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG
On behalf of Receivers, CBRE

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Freehold Retail Investment

Entirely let to Peacocks Stores Limited
Pedestrianised Town Centre Location
Nearby occupiers include The Carphone Warehouse, WH Smith, Clarks, Boots the Chemist and Costa
For the Seller's Legal Pack, please click the Property Documents tab below
For a Buyer's Legal Report please click <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>

Lot 66
Auction 11th February 2016
Rent £51,000 per Annum Exclusive
Status Sold
Price £430,000
Sector
High Street Retail
Auction Venue
Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG
On behalf of Receivers, CBRE

Property Information

Location

Miles: 38 miles south-west of Carlisle, 46 miles north-west of Kendal
Roads: A595, A66, M6 (Junction 40)
Rail: Whitehaven Railway Station
Air: Newcastle International

Situation

Whitehaven is located on the West Cumbrian coast and within close proximity to the Lake District National Park. The property is situated on the east side of pedestrianised King Street in the heart of the town centre. Nearby occupiers include The Carphone Warehouse, WH Smith, Clarks, Boots the Chemist and Costa.

Tenure

Freehold.

Location

Miles: 38 miles south-west of Carlisle, 46 miles north-west of Kendal
Roads: A595, A66, M6 (Junction 40)
Rail: Whitehaven Railway Station
Air: Newcastle International

Situation

Tenure

Freehold.

Description

The property comprises ground floor retail accommodation with staff and ancillary accommodation on the first floor. The property benefits from rear access via New Street.

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.

Buyer's Legal Report
For the ease and convenience of prospective buyers, to speed up the process of investigating a possible purchase and to minimise the legal costs an independent legal title report is available here.

VAT

VAT is applicable to this lot.

EPC

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

Description

VAT

VAT is applicable to this lot.

EPC

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

Tenancy & Accommodation

Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Review
Ground First	Retail Ancillary	366.90 sq m 287.30 sq m	(3,949 sq ft) (3,092 sq ft)	PEACOCKS STORES LIMITED (1)	10 years from 24/09/2012 until 23/09/2022 (2)	£51,000	24/09/2017
Totals		654.20 sq m	(7,041 sq ft)			£51,000

(1) For the year ending 28th February 2015, Peacocks Stores Limited reported a turnover of £351,680,000, pre-tax profits of £67,042,000 and a total net worth of £133,220,000. (Source: Experian Group 11/01/2016)
(2) The lease provides for a tenant option to determine on 24th September 2017, with no less than 6 months’ prior written notice.