2/18 Lowther Arcade Carlisle Cumbria CA3 8LX

2/18 Lowther Arcade
Carlisle
Cumbria
CA3 8LX

Freehold Shopping Arcade Investment

Five Retail Units in Attractive Covered Arcade
Located in Heart of Carlisle Town Centre
Access from both English Street and Lowther Street
Nearby occupiers include Nando’s, Pizza Express, Santander and B&M Bargains
For the Seller's Legal Pack, please click the Property Documents tab below

Lot
70
Auction
13th October 2016
Rent
£60,500 per Annum Exclusive
Status
Sold
Price
£435,000
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Squafre
London W1H 7BG

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Freehold Shopping Arcade Investment

Five Retail Units in Attractive Covered Arcade
Located in Heart of Carlisle Town Centre
Access from both English Street and Lowther Street
Nearby occupiers include Nando’s, Pizza Express, Santander and B&M Bargains
For the Seller's Legal Pack, please click the Property Documents tab below

Lot 70
Auction 13th October 2016
Rent £60,500 per Annum Exclusive
Status Sold
Price £435,000
Sector
High Street Retail
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Squafre
London W1H 7BG

Property Information

Location

Miles: 12 miles north of the Lake District, 60 miles west of Newcastle upon Tyne
Roads: A7, A69, A595, A689, M6 (Junction 43)
Rail: Carlisle Rail
Air: Newcastle International Airport

Situation

Lowther Arcade is situated in the heart of Carlisle Centre with frontage onto Lowther Street. The property also benefits from access onto English Street, the town's principle retailing thoroughfare. Nearby occupiers include Nando's, Pizza Express, Santander and B&M Bargains.

Tenure

Freehold.

Location

Miles: 12 miles north of the Lake District, 60 miles west of Newcastle upon Tyne
Roads: A7, A69, A595, A689, M6 (Junction 43)
Rail: Carlisle Rail
Air: Newcastle International Airport

Situation

Tenure

Freehold.

Description

The property, an attractive covered shopping arcade, comprises five retail units over ground and first floors, two of which benefit from frontage onto Lowther Street with access also off English Street.

VAT

VAT is not applicable to this lot.

Completion Period

Six Week Completion

EPC

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

Description

VAT

VAT is not applicable to this lot.

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)
2-4	Ground and First	Bar/Retail	73.86 sq m	(795 sq ft)	RETRO BARS (CARLISLE) LIMITED t/a Molly’s Bar	6 years from 08/09/2015 (1)	£8,000	08/09/2018 (07/09/2021)
5-10	Ground and First	Bar/Retail	142.33 sq m	(1,532 sq ft)	NPC CAFE BAR LIMITED t/a Circle Café Bar	10 years from 13/05/2011	£24,000	13/05/2016 (12/05/2021)
14-16	Ground and First	Retail	97.36 sq m	(1,048 sq ft)	INDIVIDUAL t/a Glam Tan	5 years from 05/10/2012	£11,000	(04/10/2017)
15	Ground	Retail	44.59 sq m	(480 sq ft)	INDIVIDUAL t/a Boo Hair	5 years from 13/03/2012	£7,000	(12/03/2017)
17	Ground	Bar/Retail	44.59 sq m	(480 sq ft)	BOCATA CARLISLE LIMITED t/a Bocata Bar	6 years from 05/08/2016 (2)	£10,500	05/08/2019 (04/08/2022)
	First	Office	204.39 sq m	(2,200 sq ft)	VACANT POSSESSION
Totals			607.12 sq m	(6,535 sq ft)			£60,500