Mixed Use Investment Opportunity Ground Floor Retail Unit and Self-Contained 6 bed flat
Substantial three storey mid-terrace property briefly comprising vacant ground floor self-contained retail unit with basement storage, together with self-contained residential upper floors, accessed directly from Penny Street, providing six bedrooms, lounge, kitchen and two bathrooms. The upper floors are currently let to LUSU Housing limited (Lancaster Universtiy) for the 2019 - 2020 University year (commencing mid September 2019) at a rental of £19,500 per annum (subject to confirmation and verification - please refer to the lease contained within the legal pack). We have been provided with the following approximate floor areas: Ground Floor Retail Unit - 45.85 sq m (494 sq ft). Basement Storage - 32.9 sq m (354sq ft) First and Second Floor Residential - 131.4sq m (1,415 sq ft) The property is prominently situated in the centre of Lancaster, on one of the main pedestrian thoroughfares in the city with many national retailers and the Marketgate Shopping Centre all in close proximity. NOTE: The ground floor retail unit was previously let at a rent of £15,500 pa, therefore the property has a rental potentail when fully let of approx £35,000 pa.
See Legal Pack
Energy Efficiency Rating (EPC)
Current Rating C,D
Lancaster City Council
Buyer's Premium - £900 inc VAT payable on exchange of contracts.
Administration Charge - 0.9% inc VAT of the purchase price, subject to a minimum of £1080 inc VAT, payable on exchange of contracts.
Disbursements - Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.