Main Road, Windermere, Cumbria, LA23

Windermere, the largest natural lake in England, is one of the principal tourist destinations of England's Lake District National Park, which is situated adjacent to the M6 some 80 miles north of
Manchester. The town of Windermere is situated on the eastern bank of the lake at the junction of the A591 and A592, a short distance to the north of Bowness on Windermere.

The Lake District is England's largest National Park and UNESCO World Heritage Site. Tourists from all over the world visit the Lake District National Park for its spectacular scenery, wildlife, history
and culture. There were 18.14 million tourists to the Lake District in 2022 with an estimated tourism revenue of £2.164 billion.

The property is situated in the heart of the town centre, occupying a very prominent position on Main Street at the junction with Crescent Road, the principal road through the town, along which all traffic
passes en route to the lake. Occupiers nearby include Greggs, Boots, and a host of independent
retailers and food outlets. The subject property is one of only three food stores in Windermere with the others being a Co-op convenience store on Crescent Road and Booths supermarket on Station Road. Given the planning restrictions in the National Park the development of further convenience stores or supermarkets is extremely unlikely.

The property is of steel portal frame construction with blockwork walls beneath a metal profile sheet roof and comprises a convenience store with a dedicated 16 space customer car park to the rear. The ground floor retail area is fitted out in the normal corporate style of Sainsbury's Local with storage to the rear and servicing via the car park. Customer access is also available from the car park directly into the store. The independently accessed first floor accommodation is not currently used by the tenant. A small section at the front of the building oversails the adjacent petrol station forecourt.

The entire property is let by way of a reversionary lease on full repairing and insuring terms to Sainsbury's Supermarkets Ltd until 24th October 2040 at a rent of £175,000 pa. The rent is subject to review in 2030 and 2035 to CPI, collared at 1% and capped at 4% per annum compounded. The rent in the current lease and rent free period in the reversionary lease will be
topped up by the vendor so that the income is £175,000 pa from completion of the freehold sale.

Tenure - Freehold

EPC - C72

Site Area: approx 0.49 acres

We are instructed to seek offers in excess of £3,000,000 subject to contract which show a net initial yield of 5.48% after purchaser's costs of 6.45%.