Summary - Flat Kendal Liberal Club, 2, Stricklandgate LA9 4ND
1 bed 1 bath Commercial Property
**Standout Features:**
- Newly refurbished, prime town center commercial unit
- Total area of 1,632 sq ft, strategically located on Stricklandgate, Kendal
- Currently leased to Greggs PLC until April 2029, generating a passing rent of £42,500 per annum
- Freehold tenure with a favorable Net Initial Yield of 6.80%
- Outstanding upwards-only rent review scheduled for April 2024
This exceptional commercial property at 8 Stricklandgate offers a prime investment opportunity in the heart of Kendal, a bustling town known for its vibrant retail scene. With a modern facade and extensive refurbishment, this 1,632 sq ft unit is currently leased to the reputable Greggs PLC for a term expiring in 2029, ensuring a steady rental income of £42,500 per annum. Positioned in a high-traffic area surrounded by renowned retailers such as TK Maxx and Boots, it benefits from strong footfall and visibility. The unexpired lease term of approximately 4.5 years along with the promising upwards-only rent review in April 2024 enhances the property's allure for savvy investors.
However, potential buyers should note that with only four years left on the lease, mortgage lenders may exercise caution. Despite this concern, the opportunity for future growth and the strategic location near Lake District tourism make this property a compelling investment. Kendal consistently attracts visitors and residents alike, thanks to its rich history and community spirit, making this an attractive prospect for anyone looking to capitalize on a well-established retail environment. Don’t miss your chance to secure this prime commercial asset, poised for long-term success!
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