Leisure/hospitality for sale in Market Square, Aspatria CA7

Investment Consideration:
Gross Initial Yield: 7.78%
Rental Income: £14,400 p.a.
VAT is not applicable to this property
Comprises detached former church building currently operating as a gymnasium
Total gross internal area 404.59 sq m (4,355 sq ft)
Future residential development potential, subject to planning and vacant possession
Nearby occupiers include Boots Pharmacy and Co-Op Food, amongst other retailers.

Property Description:
The property comprises detached former church building currently operating as a gymnasium, providing the following accommodation and dimensions:
Ground Floor: 228.52 sq m (2,460 sq ft)
Open plan gym area, Changing Rooms, Office, Reception
First Floor: 106.54 sq m (1,147 sq ft)
Open plan gym area, Changing Rooms
Second Floor: 69.53 sq m (748 sq ft)
Open plan gym area
Total gross internal area: 404.59 sq m (4,355 sq ft)

Tenancy:
The property is at present let to an Individual t/a Yates Evolution Gym for a term of 5 years from 18th October 2019 at a current rent of £14,400 per annum and the lease contains full repairing and insuring covenants. No breaks.

Location:
Aspatria is a market town in west Cumbria, some 15 miles southwest of Carlisle and J43 and J44 of the M6 motorway. The property is located at the heart of the town centre and fronts prominently onto the A596 connecting Carlisle to Workington via Maryport with nearby occupiers include Boots Pharmacy and Co-Op Food, amongst other local retailers.