Summary - 114-116, STRICKLANDGATE LA9 4QA
1 bed 1 bath Office
**Standout Features:**
- Freehold town center investment located in desirable Kendal.
- Attractive stone and slate traditional building with three spacious floors.
- Strong tenant with a long-term lease offering a passing rent of £57,000 per annum.
- Recent renovations including a new roof and modern fixtures.
- Large internal area of approximately 5,843 sq ft.
- Competitive sale price of £675,000 reflecting a net initial yield of 8.02%.
**Potential Concerns:**
- Lease has approximately 4 years remaining, which may deter mortgage lenders.
- High crime rate in the local area should be considered.
- Limited outdoor space as the property does not include a garden.
This substantial freehold office property is ideally situated in the heart of Kendal, a popular market town just on the outskirts of the scenic Lake District. With an impressive 5,843 sq ft of versatile space spread across three floors, this newly renovated stone building offers an excellent investment opportunity. It is already let to a well-established law firm with over 25 years of occupancy, ensuring a steady income. Additionally, the potential for a new 10-year lease on favorable terms enhances its appeal for long-term investors.
Kendal’s vibrant town center, featuring a mix of retail and commercial offerings, adds to its allure for both tenants and visitors alike. While the property does come with some considerations, such as the remaining lease duration and local crime statistics, the robust net yield and location provide a solid foundation for future growth. Act quickly to secure this exceptional investment opportunity in a thriving community.
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