57/60 King Street Whitehaven Cumbria CA28 7JH

57/60 King Street
Whitehaven
Cumbria
CA28 7JH

Freehold Retail and Residential Ground Rent Investment

  • Majority let to Mackays Stores Limited (t/a M&Co) on a new 10 year lease (1)
  • Prominent pedestrianised town centre location
  • Adjacent to Greggs and opposite Boots and The Money Shop
  • M&Co in occupation since 1982
  • Lot
    42
  • Auction
    11th July 2018
  • Rent
    £40,500 per Annum Exclusive
  • Status
    Sold
  • Price
    £380,000
  • Sector
    High Street Retail
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • On the Instructions of M&Co.
  • Expand
  • Photos
  • Map

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

Freehold Retail and Residential Ground Rent Investment

  • Majority let to Mackays Stores Limited (t/a M&Co) on a new 10 year lease (1)
  • Prominent pedestrianised town centre location
  • Adjacent to Greggs and opposite Boots and The Money Shop
  • M&Co in occupation since 1982
  • Lot 42
  • Auction 11th July 2018
  • Rent
  • Status Sold
  • Price £380,000
  • Sector
    High Street Retail
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • On the Instructions of M&Co.

Property Information

Location
Miles
8 miles south of Workington
38 miles south of Carlisle
50 miles east of Windermere
Roads
A595, A596
Rail
Whitehaven Railway Station
Air
Newcastle Airport
Situation

The historic town and port of Whitehaven, close to the Lake District National Park, is 38 miles south of Carlisle and 35 miles east of Penrith. The property is located in the town centre on the pedestrianised King Street, close to its junction with Lowther Street. Whitehaven Marina is 80 metres to the east and Whitehaven railway station 450 metres to the north. Occupiers nearby include Greggs (adjacent), Boots (opposite), The Money Shop, Santander, Costa, Clintons, Superdrug, Subway, Betfred and Heron Foods.

Tenure

Freehold.

Location
Miles
8 miles south of Workington
38 miles south of Carlisle
50 miles east of Windermere
Roads
A595, A596
Rail
Whitehaven Railway Station
Air
Newcastle Airport
Situation

The historic town and port of Whitehaven, close to the Lake District National Park, is 38 miles south of Carlisle and 35 miles east of Penrith. The property is located in the town centre on the pedestrianised King Street, close to its junction with Lowther Street. Whitehaven Marina is 80 metres to the east and Whitehaven railway station 450 metres to the north. Occupiers nearby include Greggs (adjacent), Boots (opposite), The Money Shop, Santander, Costa, Clintons, Superdrug, Subway, Betfred and Heron Foods.

Tenure

Freehold.

Description

The property comprises a ground floor shop with ancillary accommodation on part first floor. The basement is void and not currently used. The remainder of the first, second and third floors are let on a long lease and are used as residential accommodation.

VAT

VAT is 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

The property comprises a ground floor shop with ancillary accommodation on part first floor. The basement is void and not currently used. The remainder of the first, second and third floors are let on a long lease and are used as residential accommodation.

VAT

VAT is 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

Floor Use Floor Areas (Approx) Tenant Term Rent p.a.x Review
Ground
First part
Basement
Retail
Ancillary
Void
396 sq m
90 sq m
(4,262 sq ft)
(969 sq ft)
MACKAYS
STORES
LIMITED
t/a M&Co (2)
10 years from completion on
a full repairing and insuring
lease (1)
£40,000 2023
First part
Second
Third
Residential
Residential
Residential
Not measured
MEC
PROPERTIES
LIMITED
199 years from 01/01/2018 £500  
Total Commercial
486 sq m
(5,231 sq ft)
    £40,500  

(1) Tenant’s option to determine in the fifth year.
(2) For the year ended 24th February 2017, Mackays Stores Limited reported a turnover of £165,611,000, pre-tax profits of £1,100,000 and a total net worth of £36,441,000 (Source: Experian Group 12/06/2018). Mackays Stores Limited is one of the largest privately owned fashion retailers in the UK. Since inception in the 1960s, M&Co now trades from over 300 stores nationwide with a further 22 stores overseas.

Property Documents

  • Catalogue Page
    Updated Date
    03.03.22
    File Size
    919 KB
    View PDF
  • Site Plan
    Updated Date
    03.03.22
    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
Fawcett Mead 37/38 Margaret Street
London
W1G 0JF
Joe Baio 020 7182 7480 07807 182 7489joe@fawcettmead.co.uk
Seller's Solicitors
Keystone Law 48 Chancery Lane
London
WC2A 1JF
Stephen Kingsley 0203 319 3700stephen.kingsley@keystonelaw.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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