Multi-Let Retail & Office Investment Currently Producing £41,200 pa increasing to £43,200 pa – Potential To Increase To £48,400 pa When Fully Let
Multi-let retail and office investment property, briefly comprising three retail units, cafe (all let) plus vacant upper floor offices. The upper floor offices may lend themselves to residential conversion subject to the required consents being obtained. Externally there are 3 car parking spaces Location Occupying a prime location in the centre of Cleveleys with nearby occupiers including M&S Foodhall, Poundland and Wilko’s. Tenancy Schedule 63 Victoria Road West – holding over by way of 6 year lease which expired November 2020 at £12,000 pa 65 Victoria Road West – holding over by way of expired 6 year lease at £13,200 pa 65a Victoria Road West – vacant upper floor offices (4x offices, kitchen & WC) approximately 630 sqft / 58.5 m2 1a Nutter Road – 7 year lease from April 2019 at £8,000 pa. Tenant break November 2021, rent review April 2022. 1b Nutter Road – 3 year lease from May 2021 at £8,00 pa Year 1, £9,000 pa Year 2 & £10,000 pa Year 3. Total Rent £41,200 rising to £43,200 pa ERV when fully let £46,400 pa rising to £48,400 pa We are informed that all tenants pay a proportion of insurance in addition to usual outgoings ie business rates etc. Please refer to legal pack for additional fees and the Auction Information document for guidance prior to bidding.
See Legal Pack
Energy Efficiency Rating (EPC)
Current Rating C, D,D,D,F
Fylde Borough Council
Administration Charge - 1.5% inc VAT of the purchase price, subject to a minimum of £1500 inc VAT, payable on exchange of contracts.
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Disbursements - Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.