About this property
The property is situated on English Street, the prime shopping street in Carlisle. Nearby national retailers include Marks & Spencer, House of Fraser, Boots, W H Smith, River Island and Tesco. Carlisle is a City situated in north Cumbria and is the main retail centre for the region. The resident population of Carlisle is approximately 80,000 and there is an estimated population in excess of 150,000 within a 30 minute drive.
The City has a main line railway station on the West Coast Main Line and the City centre lies approximately 2 miles west of the M6 Motorway.
The premises are arranged over ground and first floors. The staircase to the second floor has been removed.
The shop benefits from a traditional modern timber shop front. With the exception of the loading doors and small storage area to the rear of the ground floor, the remainder of the ground floor is in retail use and fitted out in “The Works” standard shop fit.
The current tenant also trades from part of the first floor of the building, with the remaining parts of the first floor comprising storage, staff room and toilets. There is redundant space at second floor level, which is only accessible via a ladder and hatch.
Sales 102.40 sq m (1102 sq ft)
Storage 2.00 sq m (22 sq ft
Retail area 36.20 sq m (390 sq ft)
Internal storage 40.80 sq m (439 sq ft)
Staff room 10.60 sq m (114 sq ft)
Second floor (Not measured)
Total 192.00 sq m (2,067 sq ft)
The premises are let on a full repairing and insuring basis to The Works Stores Limited by way of a lease for a term of 3 years from 1 May 2022 at a rent of £22,500 per annum.
The lease is contracted out of the Security of Tenure provisions of the Landlord & Tenant Act 1954 Sections 24-28.
The Works Stores Limited, incorporated April 2008, is the UK’s leading family friendly value retailer of arts, crafts, toys, books and stationery, with 527 stores nationwide. According to the company’s annual report and financial statement for the period ending 2 May 2021, the company had a revenue of £180,680,000. This accounting period was disrupted due to the Covid-19 restrictions. For the previous year ending May 2020, the company reported an operating profit of £3,720,000.
Offers are invited over £250,000, reflecting a net of purchaser’s costs yield of 8.78%.
The property has a Rateable Value of £38,500.
Each party to bear its own legal costs in connection with the purchase. It is assumed that the sale would be treated as a Transfer of a Going Concern.
Strictly by appointment through the sole agents, YoungsRPS
Contact Michael Blake or Paul Fairlamb
Stamp Duty Due
Based on a sale price of £250,000 the total amount of stamp duty payable will be:
Last updated: The calculator has been updated to reflect changes in stamp duty following the Mini Budget on 23rd September 2022.
* This value is based on the standard rate and not applicable to first-time buyers or buy-to-let / second home buyers.