Retail premises for sale in Market Street, Morecambe LA4

Fixed price £300,000 (£69.16/sq. ft)
Retail premises for sale 4,338 sq. ft*

Start photo slideshow

1 of 2

Lunedale House, Unit 4, Market Street, Morecambe La4 5Dw

Interested in this property? Call +44 20 3641 9157 * or Request Details

* Calls to this number will be recorded for quality, compliance and training purposes.

Property features

  • Freehold Bank Investment
  • Comprising ground floor bank with ancillary accommodation on the first floor
  • Rent review in 2021
  • Development potential subject to obtaining the necessary planning consents
  • VAT is applicable to this property
  • Occupiers nearby include Barclays Bank, Ladbrokes, Home Bargains, jd Wetherspoon

Property description

Investment Consideration:
Gross Initial Yield: 6.83%
Rental Income: £20,500 p.a.
VAT is applicable to this property
Comprising ground floor bank with ancillary accommodation on the first floor
Rent review in 2021
Development potential subject to obtaining the necessary planning consents
Pedestrianised town centre location
Occupiers nearby include Barclays Bank, Ladbrokes, Home Bargains, jd Wetherspoons, Peacocks, Holland & Barrett, Subway and Nationwide, amongst many more.

Property Description:
The property is arranged as a ground floor bank with ancillary accommodation on the first floor. The property benefits from service access to the rear.

The property provides the following accommodation and dimensions:
Gross Frontage: 6.25m (20` 6``)
Net Frontage: 5.60m (18` 5``)
Splay: 2.10m (6` 10``)
Shop Depth: 30.90m (101` 5``)
Built Depth: 30.20m (108` 11``)
First Floor Rear: 89.50 sq m (960 sq ft)
First Floor Front: 144.83 sq m (1,559 sq ft)

Tenancy:
The property is at present let to tsb Bank plc for a term of 10 years from 29th September 2016 at a current rent of £20,500 per annum and the lease contains full repairing and insuring covenants. The lease provides for rent review on 28.09.2021. Break clause in 2021 removed in exchange for 9 months rent free period, which will be topped up from completion so that the buyer effectively receives £20,500 p.a. From completion.

EPC:
The property benefits from a D Rating. Certificate and further details available on request.

Location:
Morecambe is a popular coastal town with a population of approximately 51,000. The town benefits from good road communications, with the M6 (Junction 34) being 6 miles to the east. Morecambe overlooks Morecambe Bay and is 4 miles north-west of Lancaster, 31 miles north-west of Preston and 42 miles north of Blackpool. The property is situated on the west side of Euston Road at the junction with Market Street, close to an entrance to the Arndale Centre within the pedestrianised central shopping area. Occupiers close by include Barclays Bank, Ladbrokes, Home Bargains, jd Wetherspoons, Peacocks, Holland & Barrett, Subway and Nationwide, amongst many more.

Property info

* Sizes listed are approximate. Please contact the agent to confirm actual size.

Arrange Viewing

For more information about this property, please contact
Blue Alpine Partners, SW1P on +44 20 3641 9157 * (local rate)

Contact Blue Alpine Partners about this property

Enter details
    Morning (8am-noon)
    Afternoon (noon-5pm)
    Evening (5pm-9pm)
  1. Characters remaining: 500

By submitting this form, you accept our Terms of Use and Privacy Policy. When you click 'Send message''Request valuation', we will pass your personal data to the selected estate agents so that those agents can respond to your request for information or to arrange a viewing. valuation request.

Disclaimer

Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by Blue Alpine Partners, and do not constitute property particulars. Please contact Blue Alpine Partners for full details and further information. The Running Costs data displayed on this page are provided by PrimeLocation to give an indication of potential running costs based on various data sources. PrimeLocation does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions, related information or Running Costs data provided here.

Properties on the market nearby

16 more properties like this

View all Market Street commercial properties for sale