BEST AND FINAL BIDS TO BE RECEIVED BY FRIDAY 20th JUNE 12 Noon. Offers in the region of £650,000 are invited for the freehold investment Best bids form (attached) to be completed and returned to this office by the above date The new University of Cumbria campus and Borderlands redevelopment of the Citadel Buildings, is in the pipeline and proposed plans accepted. Additionally, improvement pavement work has recently concluded on Devonshire Street, and this building lies within this development. Positioned on the corner of Lowther Street and Devonshire Street, in a popular daytime and evening area that provides a variety of local bar and restaurant operators; The Last Zebra, Thin White Duke, Le Gall and This Time Bar, as well as national occupiers Nando’s, Nationwide Building Society and Lloyds Bank. DESCRIPTION The property comprises a three storey corner building of limestone construction, under a flat roof. The property benefits from occupancy from national tenant, Pizza Express, within the ground floor and basement. The first and second floor has self-contained access to the vacant office accommodation, with the potential for these areas to be converted to residential use. Indicative plans are attached and the planning reference number is 22/0609, and expires 3 August 2025. This is to create 4 no. apartments/flats, which was granted in August 2022. The building is shown shaded red on the goad plan overleaf. AREA/ACCOMMODATION Ground Floor Restaurant 167.5 sq m (1,803 sq ft) Basement 80.45 sq m ( 866 sq ft) First Floor 92.72 sq m ( 998 sq ft) Second Floor 103.49 sq m (1,114 sq ft) TOTAL 444.16 sq m (4,781 sq ft) SERVICES We understand mains gas, water, electricity and drainage are connected. The upper floors are on separate electricity supplies and meters from the ground floor demise. TENANCY Pizza Express (Restaurants) Limited is the tenant of the ground floor and basement. The lease began in January 2000 for a term of 25 years and is currently in the process of being renewed until 2035 at a rent of £35,000 per annum exclusive. The tenant will have a break in 2031. The rent is subject to a fifth year upward-only rent review, and the lease is drafted on internal repairing and insuring terms by way of service charge. Further information is available by contacting the agent directly. SALE PRICE Offers in the region of £650,000 are invited for the freehold investment.