Summary - 1-2, QUEEN STREET CA11 7XE
1 bed 1 bath Retail Property (high street)
Town-centre retail let to a national occupier with medium-term expiry and asset-management upside.
- Prominent Queen Street town-centre retail frontage
- Let to Salvation Army Trading Company until 28/02/2031
- Tenant-only break date 01/03/2028 included in lease
- Current rent £16,500 per annum
- Total internal area approx. 2,551 sq ft over three floors
- EPC rating E; likely requires energy improvements
- No external amenity; small urban plot, no garden
- Sale at auction; sold subject to existing lease and Schedule of Condition
A prominent three-storey retail investment on Queen Street, Penrith, offering a town-centre trading position on the edge of the Lake District. The property is let to The Salvation Army Trading Company Limited on an FRI lease running to 28 February 2031 (tenant-only break 1 March 2028), producing a current rent of £16,500 pa. The unit includes ground-floor retail with two upper floors used as ancillary/storage and extends to approximately 2,551 sq ft.
This is a clear play for investors seeking a compact high-street asset with durable footfall from local shoppers and tourists. The building benefits from a prominent display frontage, good transport links (M6/J40, West Coast Main Line) and numerous nearby national and independent occupiers. Services appear connected and the property is not understood to be listed.
Be aware of material points: the lease is mid-term with a tenant break in 2028 and the EPC is rated E. The sale will proceed at auction and the town-centre plot is small with no external amenity. The area records higher local crime and the property is sold subject to the existing tenancy and a Schedule of Condition — upper floors may require refurbishment to suit alternative occupiers or uses after lease expiry or if vacant.
Suitable for investors targeting steady rental income and future asset-management opportunities in a market town that benefits from tourism. Prospective purchasers should verify planning and service details, and factor the auction process, tenant break option and EPC improvement needs into acquisition plans.
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