Call the team on 0161 830 7477 for more information
Retail & Residential Investment (3 retail units, 3 flats) Currently prod. £26,900pa. ERV when fully let £31,400pa
Substantial two storey detached corner building situated in Fleetwood town centre, briefly provides three self contained ground floor retail units, together with three self contained one-bed flats. The property is currently tenanted and producing an income of £26,900 pa with one ground floor retail unit vacant, which, when let would increase the income to £31,400 pa. A purchase at the guide price equates to a Net Yield of 13.28% and a reversionary yield of 15.5%. Brief summary of the tenancies is as follows (further details available in the legal pack):
Tenure
To be Confirmed in Legal Pack
Ground Floor:
31 Lord Street - let to hairdressers by way of a 6 yr FRI lease to expire 25.03.2022 at a current passing rental of £5,500 pax 33 Lord Street - currently vacant and marketed at a rental of £4,500 pax 35/37 Lord Street - fabric shop, tenanted by way of a3 yr FRI lease to expire 14.05.19 at a rental of £10,000 pax
First Floor
Flat 1 - 1 bed flat let to YMCA until 24.04.2020 - rental of £2,760 Flat 2 - 1 bed flat let to private individual - rental £4,320 Flat 3 - 1 bed flat let to private individual - rental £4,320 All the flat are separately metered and fitted with gas fired central heating.
EPC readings are as follows:
Ground Floor: No. 31 Lord Street - D - 86 No. 33 Lord Street - C - 59 No. 35 - 37 Lord Street - F - 149 . Flat 1 43 Church Street - D - 57 Flat 2 43 Church Street - D - 66 Flat 3 43 Church Street - E - 50
Viewing
Please contact Auction House North West Commercial on 0161 830 7477
Energy Efficiency Rating (EPC)
Current Rating Ground Floor D, C & F First Floor D, D & E
Local Authority
Fylde Borough Council
Solicitors
HRC Law LLP, Acresfield, 8-10 Exchange Street, MANCHESTER M2 7HA, Ref: Helen Marsh, Tel: 0161 358 0544
Important Notice to Prospective Buyers:
We draw your attention to the Special Conditions of Sale within the Legal Pack, referring to other charges in addition to the purchase price which may become payable. Such costs may include Search Fees, reimbursement of Sellers costs and Legal Fees, and Transfer Fees amongst others.
Additional Fees
Buyer's Premium - £900.00 including VAT payable in addition to the Administration Fee
Administration Charge - 0.9% including VAT subject to a minimum of £900.00 including VAT
Disbursements - Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.