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.
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Property facts for Market Hall Shopping Centre, 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.
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