Part Tenanted Multi-Let Industrial/Trade Counter Investment (23,938 sq ft / 2,224 sq m) - currently producing £60,700 pa net with potential to increase

On behalf of LPA Receivers Colin Jennings and Matthew Hardy of Lambert Smith Hampton Part tenanted multi-let industrial/trade counter complex situated fronting onto Westgate, close to the roundabout junction with Lancaster Road (B5321) and Morecambe Road (A589), approximately 1 mile to the east of Morecambe Town Centre and convenient for the New Bay Gateway link road (A683). The property itself extends to approximately 23,938 sq ft (2,224 sq m) and currently produces £60,700 pa net with approximately 8,423 sq ft (782.5 sq m) currently vacant and approximately 3,860 sq ft (358.6 sq m) of communal areas. With the lettings of the currently vacant, mainly warehousing space, we are of the opinion that the total rental income could be increased to circa £80,000 pax.

Tenure

To Be Confirmed In Legal Pack

Accommodation & Tenancy Breakdown

Units 1 & 2 - Lakeland Flooring - 3,098 sq.ft - £12,000pa - 5 year lease from May 2016 Unit 3 - Vacant - 441 sq.ft Unit 4 - Vacant - 963 sq.ft Unit 4a - Cook Fire - 534 sq.ft – Currently occupied by Cook Fire Unit 5a - Vacant - 4,676 sq.ft Unit 5b - Vacant - 925 sq.ft Unit 5c - Vacant - 1,418 sq.ft - Former gym Unit 6 - PPG Architectural Coatings - 3,559 sq.ft - Let at £32,500pa - 10 year lease from March 2014 incorporating tenant break after 5 years (March 2019) First floor offices - Cook Fire - 4,464 sq.ft - £13,500pa - currently holding over Common areas - 3,860 sq.ft - includes corridors, kitchen & W.C

Viewing

Please contact Auction House North West Commercial on 0161 830 7477

Energy Efficiency Rating (EPC)

Current Rating D

Local Authority

Lancaster City Council

Solicitors

Dentons LLP, 6th Floor , Station Road, WATFORD WD18 1AF, Ref: Bill Ramsey, Tel: 01923 215 071

Additional Fees

Buyer's Premium - 1% + VAT of the sale price payable in addition to the Administration Charge

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.