Business Premises - Property Detail

The Crux of Ambleside

Central Buildings, Ambleside, Cumbria, LA22 9BS
Location: Google Maps

Unit Types: Businesses for Sale, Office, Retail

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Prominently placed and offering a superbly adaptable array of income stream options including a wonderful dual fronted Retail Shop, Post Office, Tourist Information Centre, 2 bedroomed apartment (for own occupation, long term or holiday letting) plus two offices (currently let as serviced units), The Crux is as unique in the opportunities it provides as it is in the quality of its location.

Available by assignment of the existing 15 year lease from March 2019 at a rent of £28,133 pa from the highly regarded Herd Lawson and Muriel Lawson Trust.

Lease assignment 15 years from 2019 Rent £28,133 paSuperb array of income streams.Bright 2 bedroomed Living AccommodationWonderful setting in the heart of Ambleside
Location Prominently situated at the heart of the busy market town of Ambleside, an ever popular tourist destination in the Lake District National Park, this superb property occupies a central main road position immediately opposite the Market Cross Shopping Development and is only a short stroll from the main public car parking areas.

Description At its heart, The Crux is a wonderful lifestyle-change opportunity – whether you are looking for a new start in the most beautiful surroundings or simply a genuinely exciting business opening, The Crux is certainly worth more than a casual glance.

It would be easy to become bogged down in the numerous options and income streams on offer and lose sight of the superb location and accommodation provided. As a simple starting point, the current owners pay £28,133 pa in rent to the highly regarded local charitable trust, The Herd Lawson and Muriel Lawson Trust who own the freehold of the building. By letting the apartment on an assured shorthold tenancy (at an incoming rent of £15,000 pa gross – utilities paid by landlord) and two of the first floor rooms as serviced offices (with a combined incoming rent of £8,000 pa), all but around £5,000 of the outgoing annual rent is already pretty much covered before you even start trading.

And what a trading opportunity is offered here! The Post Office contract runs until September 2022, but as things stand this can readily be continued (Ambleside has to have a post office) although it should be noted that new applicants to the role of Postmaster are appointed at the discretion of Post Office Ltd (http://www.postoffice.co.uk). The Post Office not only produces a healthy income in itself, serving the thriving local population and visitors alike, but naturally provides a key draw into the property, particularly as Ambleside now lacks any other banking premises. Part and parcel (if you will excuse the pun) of the Post Office arrangement is that it includes two outreach branches (Troutbeck and Chapel Stile) operated over two days per week – providing yet further income sources. Not everyone might wish to operate a Post Office however, and you are certainly not obliged to here, leaving the option to fill the excellent ground floor space with whatever retail delights take your fancy. The already bright and very well proportioned retail gift shop area, with its large display windows enjoying primary frontage onto the main road through the centre of this popular market town and flank frontage onto North Road, could be further expanded by the simple removal of the well proportioned designated Post Office section at the far end. Retention of the Tourist Information Centre aspect remains an option for those who want it, as it goes without saying that this again draws significant numbers of visitors through the doors on a daily basis.

The two serviced offices, should you prefer to utilise the space rather than the income, could provide very useful storage or distribution hubs for those who perhaps have, or envisage having a thriving online presence once the existing sub-leases run out. The rooms could alternatively potentially provide yet further retail space, supplemented by excellent storage and staff facilities. The apartment could continue being a long term let (the existing lease runs until June 2022), has holiday letting potential, and of course would also make anyone a wonderful home should you so wish. The apartment has its own external access at the rear and includes a splendid living room, a fitted kitchen, two double bedrooms, a modern bathroom and two attic rooms plus ample storage (please note that the lease prohibits letting to students).

Centrally placed, Ambleside is undoubtedly the hub of the wonderful Lake District National Park, a Unesco World Heritage Site which attracts around 50 million visitors spending some £3 billion annually. Not a bad start? Why not make the start on a new life by coming to see exactly what is on offer at The Crux, it won’t disappoint.

Full copies of the leases and profit and loss accounts are available from our Ambleside Office to genuinely interested parties.

The property is held on a 15 year lease from 15th March 2019 with rent reviews on a three yearly basis. The tenant is responsible for internal repair and enjoys a break clause at any stage with 12 months notice. The current rent passing is £28,133 pa. The current owners have sub-let the apartment until 19th June 2022 at a rent of £1,250 pcm (NB the apartment cannot be let to students). The two first floor offices are also sub-let as serviced units, Swaledale Suite at a rent of £3,500 pa until 6th October 2022 and Herdwick Suite at a rent of £4,500 pa also until 6th October 2022.

The asking price is plus SAV. There are currently five members of staff including the current owners (who only work 2 to 3 days per week), and we understand that 3 experienced members of staff may transfer over under TUPE.

Size: 780 sq ft + 3 attic rooms

Size Band: Under 2,500 sq ft / 250 sq m

Leasehold Price: £28,133 p/a

Freehold Price: £159,995

For more information please contact the agent: