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Market Hall Shopping Centre, Market Hall, Carlisle

Retail for sale in Carlisle

£2,500,000 / 82,900 sq ft

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Highlights

Features

Retail location
District / local centre
Full address
Market Hall Shopping Centre, Scotch St, Market Hall, Carlisle CA3 8QX – Carlisle
Asking price
£2,500,000
Links
Pdf #1 marketing brochure/flyer

Sale details

There is 1 space available, measuring 82,900 sq ft.

Sale unit Available

Unit
Sale unit
Size
82,900 sq ft
Price
£2,500,000
Price per sq ft
£30.16
  • The property is held on a long leasehold from Carlisle City Council for a term of 99 years from 25 March 1991 expiring 24 March 2090. There is an option to renew for a further 51 years which can be exercised no sooner than 21 years prior to expiry.
  • This would improve the unexpired term to approximately 123 years.
  • The buyer will have a right of pre-emption in the event that the Council dispose of their freehold interest in the premises.
  • Offers for the long leasehold interest of the subject property are invited in excess of £4,000,000 reflecting a net initial yield of circa 9.3% and a capital value per sq ft of £47.50, allowing for graduated purchasers costs.
Sale type Investment
Tenure Long leasehold
More building details Less building details

Property facts for Market Hall Shopping Centre, Market Hall, Carlisle

The subject property is a substantial city centre site located towards the northern end of the pedestrianised Scotch Street and it borders with West Tower Street to the north, Market Street to the west and Fisher Street to the south. The property comprises a historic covered Victorian market hall, two large retail units and a retail arcade located at the entrance of the market hall. The market hall is one of the few covered Victorian Markets remaining in the UK. The market is run by Carlisle City Council and is occupied by a host of local independent retailers including greengrocers, florists, cards, stationery, pet supplies and several cafés. It is open from Monday to Saturday from 8am until 5pm. The market has public entrances on Scotch Street and West Tower Street, where a number of bus stops are located servicing local bus routes to Morton, Kingstown, Houghton and Blackwell. The Eden Centre comprises two large anchor store retail units currently let to TK Maxx and Wilko. TK Maxx trade from first floor only while Wilko trade from ground floor. The subject property is Grade II listed.

Number of storeys
2
Total building area
82,900 sq ft
Rentable building area
82,900 sq ft
Lot size
1.65 acres
Construction material
Masonry
Year built
1830
Parking
Surface, Surface tandem, Covered, Covered tandem, Reserved

Major tenants

Name Description Size Move in date Locations
TK Maxx Description Discount Store Size 27,000 sq ft Move in date - Locations 350 (International) International
Wilko Description Department Store Size 33,914 sq ft Move in date - Locations 446 (National) National

Map & nearby

Market Hall Shopping Centre, Market Hall, Carlisle

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Meet the team

Green & Partners LLP

  • A profile photo of David Freeman David Freeman
  • A profile photo of Ed Smith Ed Smith
  • A profile photo of Patrick Over Patrick Over

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Disclaimer. Property descriptions, images and related information displayed on this page are based on marketing materials found on the website registered to Green & Partners LLP. Realla does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions or related information provided here and they do not constitute property particulars. Please contact Green & Partners LLP for full details and further information. 8464856