For sale in English Street, Carlisle, Cumbria, CA3

LOCATION
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 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.

DESCRIPTION
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.

ACCOMMODATION
Ground Floor
Sales 102.40 sq m (1102 sq ft)
Storage 2.00 sq m (22 sq ft

First floor
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 (No access - Not measured)

Total 192.00 sq m (2,067 sq ft)

TERMS
THE INVESTMENT

Tenure
The property is held freehold. Part of the upper floors to the building at the front forms a flying freehold over the public footpath at the side of the shop.

Lease Terms
The whole building is 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.

Tenant Profile
The Works Stores Limited, incorporated April 2008, is the UK’s leading family friendly value retailer of arts, crafts, toys, books and stationery, with 525 stores nationwide. According to the company’s annual report and financial statement for the period ending 2 May 2022, the company had a revenue of £264.6m with profit before tax of £12.9m.

OUTGOINGS
The property has a Rateable Value of £23,750.

LEGAL COSTS
Each party to bear its own legal costs in connection with the sale. It is assumed that the sale would be treated as a Transfer of a Going Concern.

VIEWING
Strictly by appointment through the sole agents, YoungsRPS

Contact Michael Blake or Paul Fairlamb