Pub/bar for sale

Investment And Development Opportunity, 8-14 Queen Street, Blackpool, Lancashire FY1

Entire Freehold Investment & Development Opportunity

An opportunity to acquire the entire freehold interest in a substantial mixed-use property in Blackpool town centre, comprising two ground-floor commercial units and extensive upper-floor accommodation with planning permission for 18 serviced apartments. The property provides an existing commercial income stream alongside significant development potential.

The ground-floor accommodation comprises:
Unit 1 - The Growth Company
Currently let to The Growth Company on a 5 year lease at a passing rent of £25,000 per annum. Lease expires 26/9/2029.

Unit 2 - Former Slug & Lettuce
Terms agreed for a new 15-year lease, subject to contract, at a headline rent of £45,000 per annum, incorporating the following stepped rental structure:
Year 1: £35,000 per annum
Year 2: £38,000 per annum
Year 3: £40,000 per annum
Year 4: £40,000 per annum
Year 5 onwards: £45,000 per annum, subject to lease terms and future rent reviews.

Upon completion of the proposed letting, the property would provide an initial combined rental income of £60,000 per annum, increasing to £70,000 per annum from year five, before any future rent reviews.

Part 3 - Upper floors with the benefit of planning permission for 18 serviced apartments
The upper floors benefit from planning permission for 18 serviced apartments, together with ancillary accommodation at lower-ground-floor level.