House For Sale £240,000
101 Highgate, Kendal, Cumbria LA9
previous price £250,000

*valuable commercial investment* Excellent 999 year leasehold restaurant premises let on the residue of a 15 year lease, producing £19,000 per annum reflecting a yield of just under 7%. Prominent high street position in Kendal town centre. A superb investment.
Description

The property comprises ground, lower ground floor and first floor restaurant premises forming part of a stone and slate built building which also comprises residential apartments.

The premises were comprehensively refurbished, upgraded and improved by our clients in around 2005. After initially running a restaurant business themselves our clients let the property to an individual in 2009, trading as the well run and highly popular Jintana Thai Restaurant. The owner of Jintana runs two other restaurants under the same names, one in Ambleside, the other in Bowness-on-Windermere. Further details, can be found by visiting .

Location
The premises are located on Highgate in the centre of the historic market town of Kendal, renowned as the gateway to the Lake District. Highgate is the main thoroughfare leading through the town centre and the premises occupy a prominent position at the crown of a slight hill, more or less opposite the entrance to the renowned Brewery Arts Centre. It is an excellent trading position for a restaurant.

Kendal which has a growing population of around 30,000, provides a comprehensive range of shopping, leisure, cultural and educational amenities. The town enjoys a thriving tourist trade and is popular with visitors all year round.

Kendal is located just outside the Lake District National Park and is convenient for junctions 36 to 38 of the M6 motorway and for Oxenholme Railway Station on the London to Glasgow main west coast line.

Ground Floor

Bar Lounge:30'4" x 14' (9.25m x 4.27m).

Restaurant:51'10" x 14'6" (15.8m x 4.42m).

Staff Toilet:

Lower Ground Floor

Kitchen/Preparation Room:48'1" x 13'3" (14.66m x 4.04m).

Storage Area:11'2" x 3'11" (3.4m x 1.2m).

Chill Store:8'4" x 7'6" (2.54m x 2.29m).

Basement Store:21' x 13'11" (6.4m x 4.24m).

First Floor Customer Ladies and Gents w.C. Facilities.

Services
Price

£275,000
Rent received

£19,000 per annum exclusive.
Tenant

A private individual.
Lease terms

The premises are let for a 15 year term from 2nd December 2009 on effectively full repairing and insuring terms.
Tenure

Leasehold for a 999 year term from 1st February 2003.
VAT

The price is not subject to VAT.
Services

All mains services are available and connected. Gas fired central heating.
Energy rating

'D'.

Fixtures, furnishings and effects
The furnishings and effects, together with the kitchen fittings and equipment, belong to the tenant.
Rateable value

£14,750