28 Portland Square, Carlisle
Cumbria, CA1 1PE
INVESTMENT OPPORTUNITY IN ATTRACTIVE LOCATION ADJACENT TO PORTLAND SQUARE GARDENS
- CLOSE TO CARLISLE CITY CENTRE WITHIN CHATSWORTH SQUARE AND PORTLAND SQUARE CONSERVATION AREA
- ATTRACTIVE PROPERTY RETAINING MANY ORIGINAL FEATURES, WITH ON SITE PARKING
- CURRENTLY LET TO LONG STANDING TENANT AND USED AS A DAY NURSERY AT A RENT OF £17,500 PER ANNUM FOR 15 YEARS FROM FEB 2023, WITHOUT BREAKS AND FIXED RENT INCREASE IN 2028
- TENANT BUSINESS NOT AFFECTED
Location
The property is situated close to the junction of Brunswick Street and Warwick Road (A69) in a popular mixed commercial and residential location adjacent to Portland Square. Other occupiers nearby include medical practices, Robson Medical & Mobility, Lancaster Accountants and a mix of other local occupiers. Opposite the property is Portland Square North being Phase 1 of the high quality refurbishment of former County Council offices, creating 1/2 bed luxury apartments and 5/6 bed town houses. Phase 1 has all sold and with Phase 2, Portland Square South available in 2023.
Floor Plans & EPC
DESCRIPTION
The property comprises a Grade II Listed 3-storey mid-terraced building with cellar of brick construction beneath a multi-pitch, largely slate covered roof.
Originally a town house and previously used as offices, the property, retains many attractive period features. It has been run as a children’s day nursery by the current tenant since 2006 and now operates as Little Owls.
LOCATION
The property is situated close to the junction of Brunswick Street and close to Warwick Road (A69) in a popular mixed commercial and residential location adjacent to Portland Square.
Other occupiers nearby include medical practices, Robson Medical & Mobility, Lancaster Accountants and a mix of other local occupiers.
Opposite the property is Portland Square North being Phase 1 of the high quality refurbishment of former County Council offices, creating 1/2 bed luxury apartments and 5/6 bed town houses. Phase 1 has all sold and with Phase 2, Portland Square South available in 2023.
A number of other properties in the vicinity are undergoing high quality residential conversion.
ACCOMMODATION (Net Internal Area)
GROUND FLOOR: 784 sq. ft. (73 sq. m.) (3 main rooms plus ancillary)
FIRST FLOOR: 853 sq. ft. (78 sq. m.) (4 main rooms plus ancillary)
SECOND FLOOR: 483 sq. ft. (45 sq. m.)
CELLAR: 212 sq. ft. (20 sq. m.)
ACCOMMODATION CONT...
EXTERNAL:
To the front is a small forecourt with main entrance. To the rear is a fenced play area plus car parking for 4-6 vehicles accessed from Wilfred Street and Cecil Street.
SERVICES
Mains electricity, water and drainage are connected to the property.
RATEABLE VALUE
Description: Day Nursery and Premises
£14,400 (2017 listing)
£20,750 (2023 listing)
TENURE
Freehold, subject to a lease to Little Owls Nursery (Carlisle) Limited guaranteed by Samantha Mills for a term of 15 years from January 2023, without break options at a rent of £17,500 per annum. There is a fixed rental increase in 2028 to £20,000 per annum and an upward only rent review in 2033. The lease is drawn on full repairing and insuring terms.
PRICE
£225,000 for the freehold interest in the property, subject to the lease detailed above.
ENERGY PERFORMANCE CERTIFICATE (EPC)
The property is a listed building.
VAT
The property has not been opted to tax.
VIEWINGS
No direct approach should be made to the tenants, all access and viewings must be arranged via Walton Goodland.
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Last updated: 24th February 2023 - 5:07 pm