Cornmarket, Unit 5
Penrith
About this property:
GOING TO AUCTION 18TH JULY
https://www.auctionhouse.co.uk/cumbria/auction/lot/130558
5 Cornmarket is an attractive mid-terraced three storey property comprising a mixed use building.
The ground floor comprises a retail unit, currently occupied by a long established hair salon with basement, whilst the upper floors provide a self-contained large and spacious three bedroom flat.
TENANCY & LEASE
Ground Floor Commercial
Let to Unique Hair on a 6 year lease expiring on 4th December 2026 at a passing rent of £7,200 per annum exclusive.
Upper Floor Residential
Let on a 6 month assured shorthold tenancy at a rent of £5,100 per annum exclusive. The landlord has confirmed the current tenant has been in occupation for 3 years and is very settled and sees this property as long-term accommodation
The combined rent for the property currently sits at £12,300 per annum however, there may be scope to increase the rental on the residential element.
VAT
We understand the property is not elected for VAT and VAT will not be payable on the sale price.
Terms: Freehold Investment For Sale
Size: 0.00 m² (0 ft²)
Postcode: CA11 7DA
Ref:BB/5963
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