14a Station Street, Keswick, CA12

Property Details: • Type: Mixed Use • Tenure: N/A • Floor Area: N/A

Key Features: • Freehold ground rent investment • Highly secure income • 5% gross initial yield

Location: • Nearest Station: Aspatria Station • Distance to Station: 13.5 miles

Agent Information: • Address: 28, St. Johns Street, Keswick, CA12 5AF

Full Description: DESCRIPTIONThe building is a four storey, end of terrace, of traditional stone and slate construction. There are four floors with one property on each. The properties are self-contained but do not include the structure.Full details are contained within the leases, copies of which can be made available upon request.The principal access to the ground floor is from Station Street. The flats are accessible from a common staircase, the entrance to which is from a side door in the building.The property to be sold is the sum of the freehold entitlements to the ground rents currently receivable at 14a Station Street, Keswick and more particularly:Ground Floor: Commercial premises (occupied by Chisholm Bookmakers) Rent: £nilFirst Floor: Residential flat known as Bag End. Rent: £302.74 per annumSecond Floor: Residential premises known as Grandy Nook Rent: £nilThird Floor: Residential premises known as Grand View. Rent: £302.74RENTCurrently £605.48 per annum, subject to review.RENT REVIEWSThere are rent reviews applicable to the flats on the first and third floors as follows:1st January 2019 and every fifth anniversary of that date. The rents are to be increased on the rent review dates by 2.5% per annum compound.LEASESGround floor: 999 years from 07/12/2009First floor: 999 years from 07.12.2009Second floor: 999 years from 07.12.2009Third floor: 999 years from 7.12.2009TITLE NUMBERSGround floor: CU288935First floor: CU288517Second floor: CU252348Third floor: CU296461LOCATIONLocated in a good secondary trading position, Station Street is a bustling area, popular with both local people and tourists alike, and benefits from a good mix of shops, offices, restaurants and bars.Keswick is the principal town for the northern Lake District, attracting large numbers of visitors throughout the year, benefitting from 7 day seasonal trading and extended hours.PROPOSALThe freehold of the building, subject to the leases referred to herein, and currently producing a rent of £605.48 per annum is offered for the sum of £12,100LEGAL COSTSEach party to bear their own legal and professional costs incurred in the transaction.VATRent quoted is exclusive of VAT if applicableFURTHER INFORMATIONPlease contact Keith Mitchell in our Keswick Office.