Summary - 9-10, MIDDLEGATE CA11 7PG
1 bed 1 bath Retail Property (high street)
Large freehold retail with immediate income and short lease profile.
- Freehold town-centre retail unit, prominent double-fronted frontage
- Let to B&M Retail Ltd; tenant over 10 years in occupation
- Passing rent £50,000 pa (recently rebased from £75,500)
- Substantial overall size with rear access via Bluebell Lane
- Five years remaining on lease; limited lease term noted
- Mortgage lenders likely to refuse due to short lease length
- VAT applicable to the sale; EPC in legal pack
- Higher local crime levels; auction sale, cash or specialist finance advised
A rare town-centre freehold retail investment on Middlegate, Penrith, offered at auction on 30 October 2025. The double-fronted, two-storey unit is let to national retailer B&M Retail Ltd, in occupation for over ten years, producing a current passing rent of £50,000 per annum following a recent rebasing from £75,500. The building benefits from substantial overall floorspace, rear access via Bluebell Lane and proximity to major town-centre footfall and car parking.
This lot suits an investor seeking immediate income and a prominent high‑street presence. The freehold sale includes both ground-floor retail and first-floor ancillary accommodation, with VAT applicable and an EPC available in the legal pack. The tenant holds a five‑year lease with no breaks, providing term certainty but limited long-term lease length.
Buyers should note material considerations: only five years remain on the lease, which may deter mainstream mortgage lenders and could restrict purchaser pool to cash buyers or specialist commercial financiers. The rent was recently reduced to £50,000 pa, reflecting rebasement; potential for future re‑letting or rent renegotiation exists but carries occupational and market risk in the town-centre retail sector. The area records higher-than-average crime and VAT is applicable to the sale.
Overall, the property offers sizeable town-centre retail real estate with immediate rental income and redevelopment or re-letting potential at lease expiry. Investors comfortable with short lease profiles, auction purchase protocols and commercial-market risk will find this a clear, well-located opportunity with visible drawbacks disclosed.
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