1 Stramongate and 2 Kent Street Kendal Cumbria LA9 4BH

1 Stramongate and 2 Kent Street
Kendal
Cumbria
LA9 4BH

Freehold Retail Investment

Let to Johnson Cleaners Ltd, guaranteed by Johnson Service Group plc until 2021 (subject to option)
Nearby occupiers include Jules, Beales Department Store and Mountain Warehouse Outdoor Wear
Fixed minimum rental increases to the greater of Retail Price Index (RPI) or Open Market rental value
Six week completion

Lot
54
Auction
11th July 2013
Rent
£30,000 per Annum Exclusive
Status
Sold
Price
£195,000
Auction Venue
Millennium Hotel
44 Grosvenor Square
London W1K 2HP

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Freehold Retail Investment

Let to Johnson Cleaners Ltd, guaranteed by Johnson Service Group plc until 2021 (subject to option)
Nearby occupiers include Jules, Beales Department Store and Mountain Warehouse Outdoor Wear
Fixed minimum rental increases to the greater of Retail Price Index (RPI) or Open Market rental value
Six week completion

Lot 54
Auction 11th July 2013
Rent £30,000 per Annum Exclusive
Status Sold
Price £195,000
Sector
High Street Retail
Auction Venue
Millennium Hotel
44 Grosvenor Square
London W1K 2HP

Property Information

Location

Miles: 47 miles south of Carlisle, 70 miles north of Manchester, 8 miles east of Windermere
Roads: A6, A590, A684, M6 (Junction 36)
Rail: Kendal Rail Station
Air: Newcastle Airport

Situation

The property is situated on a prominent corner position in the attractive and affluent market town of Kendal. The town is a popular tourist destination within the Lake District National Park.

Tenure

Freehold.

Location

Miles: 47 miles south of Carlisle, 70 miles north of Manchester, 8 miles east of Windermere
Roads: A6, A590, A684, M6 (Junction 36)
Rail: Kendal Rail Station
Air: Newcastle Airport

Situation

The property is situated on a prominent corner position in the attractive and affluent market town of Kendal. The town is a popular tourist destination within the Lake District National Park.

Tenure

Freehold.

Description

The property is a building comprising ground floor retail accommodation with basement ancillary accommodation and self-contained office accommodation on the 1st and 2nd floors.

VAT

VAT is applicable to this lot.

EPC

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

Description

The property is a building comprising ground floor retail accommodation with basement ancillary accommodation and self-contained office accommodation on the 1st and 2nd floors.

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
Basement Ground First Second	Storage Retail Offices Offices	25.85 sq m 77.81 sq m 62.62 sq m 72.36 sq m	(278 sq ft) (838 sq ft) (674 sq ft) (779 sq ft)	JOHNSON CLEANERS UK LTD (1) Guaranteed by Johnson Service Group plc (4)	15 years from 24th June 2006 until 2021 (2) (3) on a full repairing and insuring lease	£30,000	24/06/2016 (3)
Totals		238.64 sq m	(2,569 sq ft)			£30,000

(1) For the year ending 31st December 2011, Johnson Cleaners UK Ltd reported pre-tax profits of £1,400,000 and a total net worth of £7,946,000 (https://my.riskdisk.com. Last accessed: 13/06/2013)
(2)The lease provides for a tenant option to determine the lease on 24th June 2016.
(3)The lease provides for the rent to be increased over every 5th year by the greater of the Open Market Rental value or increased in line with the Retail Prices Index (RPI).
(4) The Tenant is not currently in occupation