- Lease assignment 15 years from 2019 Rent £28,133 pa
- Superb array of income streams.
- Bright 2 bedroomed Living Accommodation
- Wonderful setting in the heart of Ambleside
Location Prominently situated at the heart of the busy market town of Ambleside, an ever popular tourist destination in the Lake District National Park, this superb property occupies a central main road position immediately opposite the Market Cross Shopping Development and is only a short stroll from the main public car parking areas.
Description At its heart, The Crux is a wonderful lifestyle-change opportunity – whether you are looking for a new start in the most beautiful surroundings or simply a genuinely exciting business opening, The Crux is certainly worth more than a casual glance.
It would be easy to become bogged down in the numerous options and income streams on offer and lose sight of the superb location and accommodation provided. As a simple starting point, the current owners pay £28,133 pa in rent to the highly regarded local charitable trust, The Herd Lawson and Muriel Lawson Trust who own the freehold of the building. By letting the apartment on an assured shorthold tenancy (at an incoming rent of £15,000 pa gross – utilities paid by landlord) and two of the first floor rooms as serviced offices (with a combined incoming rent of £8,000 pa), all but around £5,000 of the outgoing annual rent is already pretty much covered before you even start trading.
And what a trading opportunity is offered here! The Post Office contract runs until September 2022, but as things stand this can readily be continued (Ambleside has to have a post office) although it should be noted that new applicants to the role of Postmaster are appointed at the discretion of Post Office Ltd (http://www.postoffice.co.uk). The Post Office not only produces a healthy income in itself, serving the thriving local population and visitors alike, but naturally provides a key draw into the property, particularly as Ambleside now lacks any other banking premises. Part and parcel (if you will excuse the pun) of the Post Office arrangement is that it includes two outreach branches (Troutbeck and Chapel Stile) operated over two days per week – providing yet further income sources. Not everyone might wish to operate a Post Office however, and you are certainly not obliged to here, leaving the option to fill the excellent ground floor space with whatever retail delights take your fancy. The already bright and very well proportioned retail gift shop area, with its large display windows enjoying primary frontage onto the main road through the centre of this popular market town and flank frontage onto North Road, could be further expanded by the simple removal of the well proportioned designated Post Office section at the far end. Retention of the Tourist Information Centre aspect remains an option for those who want it, as it goes without saying that this again draws significant numbers of visitors through the doors on a daily basis.
The two serviced offices, should you prefer to utilise the space rather than the income, could provide very useful storage or distribution hubs for those who perhaps have, or envisage having a thriving online presence once the existing sub-leases run out. The rooms could alternatively potentially provide yet further retail space, supplemented by excellent storage and staff facilities. The apartment could continue being a long term let (the existing lease runs until June 2022), has holiday letting potential, and of course would also make anyone a wonderful home should you so wish. The apartment has its own external access at the rear and includes a splendid living room, a fitted kitchen, two double bedrooms, a modern bathroom and two attic rooms plus ample storage (please note that the lease prohibits letting to students).
Centrally placed, Ambleside is undoubtedly the hub of the wonderful Lake District National Park, a Unesco World Heritage Site which attracts around 50 million visitors spending some £3 billion annually. Not a bad start? Why not make the start on a new life by coming to see exactly what is on offer at The Crux, it won’t disappoint.
Full copies of the leases and profit and loss accounts are available from our Ambleside Office to genuinely interested parties.
Accommodation (with approximate dimensions)
Retail Area 44′ 10" x 24′ 0" (13.69m x 7.32m) A lovely bright and light open dual aspect space with three large display windows, and excellent frontages onto both the main road and North Road. There are an array of shelving and display units, and having two serving counters, one of which is currently dedicated specifically for Post Office customers. There is a Dimplex curtain air heater over the main external door, a further external door to the side which is covered by a shelving unit, an internal door, and light panels.
Internal Hallway With stairs leading to the first floor, external door and having an under stair storage area.
Cloakroom 8′ 6" x 2′ 11" (2.60m x 0.90m) With space for coats and having shelves providing additional storage.
Rear Post Office "Fortress" 18′ 8" x 10′ 11" (5.69m max x 3.33m) With office equipment, cupboards and drawers, 3 safes and a secure window.
First floor entance Having a Creda night storage heater and an external door giving access to the apartment independent from the retail area..
Landing Having a small store cupboard.
Staff Kitchen 14′ 4" x 11′ 10" (4.37m max x 3.61m) Bright and airy, having base units with complementary work surfaces and an integrated stainless steel sink and drainer, space to dine, and a Sunhouse night storage heater.
Store Room 13′ 1" x 8′ 9" (4.01m x 2.67m) A useful store room having a window, and a Sunhouse night storage heater.
Cloakroom With WC, wash hand basin, Vent Axia extractor fan and an opaque window.
Office Suite – Herdwick 17′ 1" x 9′ 1" (5.23m x 2.79m min) A dual aspect bright room with power and light with a Sunhouse night storage heater.
Office Suite – Swaledale 13′ 8" x 10′ 7" (4.17m x 3.23m) With a lovely large window, and having a Sunhouse night storage heater.
Apartment – Yan, Tan Tethera
Landing Having a stained glass window, Dimplex night storage heater, and having an understair storage cupboard, and door leading to the attic rooms.
Living Room 18′ 4" x 13′ 10" (5.59m x 4.22m max) A light and airy dual aspect living room enjoying views over Ambleside, with picture rail and coving adding to the feeling of style and spaciousness, and an ornate fireplace (no longer in use) providing a real focal point. This is a lovely room in which to gather and relax with family and friends. With 2 Dimplex night storage heaters.
Bedroom 2 13′ 5" x 10′ 7" (4.09m x 3.23m) A lovely bright double bedroom, with picture rail and coving adding to the sense of spaciousness. Having a cast iron open fireplace (no longer in use) and a Dimplex night storage heater for those cooler evenings.
Kitchen 13′ 1" x 8′ 3" (4.01m x 2.54m) Lovely and light with views and a high ceiling, part tiled and having wall and base units with complementary work surfaces and integrated stainless steel sink and drainer with mixer tap. Integrated appliances include a Hotpoint ceramic hob set above a separate Hotpoint double oven, and an Indesit slimline dishwasher. With plumbing for an automatic washing machine. Also having space to dine.
Bedroom 1 13′ 8" x 11′ 8" (4.17m x 3.56m max) A double bedroom enjoying views to the fells with the high ceiling and picture rail adding to the sense of spaciousness. With an ornate open fire place (no longer in use) and a Dimplex night storage heater.
Bathroom Part tiled with a modern three piece suite comprising a panel bath with Mira rainfall shower over, a wash hand basin and a WC. Also with a heated ladder style towel rail/radiator and a window with views.
Attic Rooms Steep stairs lead to the attic rooms (please take care when using these stairs).
Please also note that whilst the two lower rooms have boarded floors, the third at the slightly higher level isn’t boarded and should not be entered.
Attic Room 1 Boarded and insulated, with a sloping ceiling, Velux window, shelves, power and light.
Attic Room 2 Boarded and insulated with good head height this being the bigger of the three, also with Velux windows.
Attic Room 3 Situated in the upper gable, this room is insulated but not boarded, ideal for loft storage.
Services This property is connected to mains water, drainage and electricity.
Rates Apartment – Council Tax Band b payable to South Lakeland District Council
Business Rates are applicable to the commercial part of the property, which has a rateable value of £23,470 with the amount payable to South Lakeland District Council for 2020/21 being £12,100 with a retail discount.
Viewings Strictly by appointment with Hackney & Leigh Ambleside Office.
Energy Performance Certificate The full Energy Performance Certificate is available on our website and also at any of our offices.
Tenure and supplementray information The property is held on a 15 year lease from 15th March 2019 with rent reviews on a three yearly basis. We understand that there was no rental increase in the 2022 review.The tenant is responsible for internal repair and enjoys a break clause at any stage with 12 months notice. The current rent passing is £28,133 pa. The current owners have sub-let the apartment until 19th June 2022 at a rent of £1,250 pcm (NB the apartment cannot be let to students). The two first floor offices are also sub-let as serviced units, Swaledale Suite at a rent of £3,500 pa until 6th October 2022 and Herdwick Suite at a rent of £4,500 pa also until 6th October 2022.
The asking price is plus SAV. There are currently five members of staff including the current owners (who only work 2 to 3 days per week), and we understand that 3 experienced members of staff may transfer over under TUPE.
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