Mixed use for sale
Property description & features
- Mixed retail/ residential investment
- Rare investment opportunity
- Good secondary retail pitch
- 2 x retail + 4 x residential flats
- Located in central Keswick
- Traditional Stone Construction
Mixed retail/ residential investment for sale in central Keswick.
24 St John's Street, Keswick, Cumbria, CA12 5AS
• Fully let mixed use investment
• Passing rent £43,844 per annum exclusive
• Good secondary retail pitch
• 2 x retail + 4 x residential flats
• No local occupancy restrictions
Guide price - £750,000
LOCATION
The property is located in central Keswick, fronting St John’s Street, which is a busy, one-way street of mixed retail, offices, leisure and residential. No. 24 is close to the junction with Main Street and Market Square, the prime retail area. Keswick is a thriving market town in the northern region of the Lake District National Park. The Town lies around 17 miles to the west of Penrith and 28 miles South West of Carlisle and is a bustling tourist destination with a seasonally fluctuating population.
Keswick is one of the ‘honey-pot’ towns of the Lake District and is busy throughout the year during an increasingly long season and has an excellent range of local, regional and national occupiers including most of the big names in outdoor retail; Cotswold, Blacks, Mountain Warehouse, Trespass and the renowned outdoor clothing specialist George Fisher together with a host of local traders, restaurants, tearooms in addition to a thriving open air Market in the Square.
The retail vacancy rate in Keswick is less than 1%.
DESCRIPTION
The building is of traditional architecture and stone and slate construction and arranged over three floors. The ground floor comprises two lock-up retail units with two flats on each of the first and second floors.
The entrance to the flats is separate and between the two shop frontages into a shared staircase and communal hallway. Three of the flats have an open plan living area, with flat 3 having a separate sitting room and kitchen. Each has 1 bedroom and a bathroom/ shower room. The flats are moments away from the town centre and its range of leisure facilities.
ACCOMMODATION
24a St John’s Street – Café and premises trading as Chinty’s Café 11m x 3.6m
WC with wash hand basin
Gross Internal Area 41 sq.m / 441 sq.ft
24b St John’s Street – Retail, trading as Viewpoints (Gallery) 3.5m x 10.7m
WC with wash hand basin
Gross Internal Area 39 sq.m / 420 sq.ft
Flat 1, Second floor 40 sq.m / 430 sq.ft
Open Plan Living Area
Bedroom
Shower Room
Flat 2, Top floor 40 sq.m / 430 sq.ft
Open Plan Living Area
Bedroom
Shower Room
Flat 3, First floor 43 sq.m / 463 sq.ft
Sitting Room
Kitchen
Bedroom
Bathroom
Flat 4, First floor 43 sq.m / 463 sq.ft
Open Plan Living Area
Bedroom
Bathroom
TENURE
The property is held on a single freehold title, number CU247661.
PRICE
Guide price £750,000 (Seven Hundred and Fifty Thousand pounds).
TENANCIES
1. 24a St John’s Street
Trading as Chinty’s (Café) for 6 years from 16th January 2020 at current annual rent of £11,000. Existing lease end date/ rent review 16th January 2026.
2. 24b St John’s Street
Trading as Viewpoints Gallery since 2009 at current rent of £8,400 per annum. Existing lease end date/ rent review 16th June 2025.
Flats 1 to 4 fully occupied on ASTs
Total rent from residential = £24,444 per annum
Total rent from commercial = £19,400 per annum
Combined Total Rents = £43,844 per annum
SERVICES
All mains services are connected/available to the property.
VALUATION LIST 2023 RATEABLE VALUES
24a St John’s Street - £9,100
24b St John’s Street - £9,000
Flats 1 & 3 have been assessed for council tax in Band A.
Flats 2 & 4 have been assessed for council tax in Band B.
EPC
Energy performance certificates are available to download.
COSTS
Each party will bear their own costs incurred in the transaction.
VAT
VAT is not applicable.
VIEWINGS
The property is available to view by prior appointment through the Keswick office of Edwin Thompson LLP.
Contact Keith Mitchell in our Keswick office.
Website:
REF: K3337052
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Energy Performance data and Internal floor area
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