FOR SALE BY AUCTION - LOT 7
INDUSTRIAL TRADE COUNTER INVESTMENT
A trade counter unit arranged over the ground floor, totalling 16,049 sq ft (1,491.00 sq m). The property sits on a large site area of 0.606 acres (0.245 hectares) with good yard space.
Location
Lytham St Annes is an attractive coastal town and is home to the world famous Royal Lytham St Annes Golf Club. It is located 4 miles (6 km) south of Blackpool, 14 miles (22 km) west of Preston and 24 miles (39 km) west of Blackburn. It benefits from excellent road links via the B5261, A5230 and the M55 (Junction4) which connects to the M6. The property is situated on the eastern side of Scaffell Road in the well established Queesnsway Industrial Estate to the north west of the town centre. The estate is accessed off Queesnsway (the B5261) which provides a direct route into Blackpool. Nearby occupiers include Unipart Automotive, and Graham Plumbers Merchants.
Accommodation
Ground Floor Trade Counter - 16,049 sq ft**
Tenancy in place to Howden Joinery Properties Limited¹ (Guaranteed by Howden Joinery Ltd)² for a term of 20 years from 11 June 2001 expiry 10 June 2021
Current Rent - £XXX (£XXX per sq ft)
Reversion - June 2021
¹ For the year ended 26 December 2015, Howden Joinery Properties Ltd, reported a turnover of £XXX with a pre-tax profit of £XXX
² For the year ended 26 December 2015, Howden Joinery Ltd, reported a turnover of £XXXb with a pre-tax profit of £XXXm.(Source: Experian)
** Property not inspected by Telsar Auctions
Terms
EPC: Refer to Legal pack
VAT payable
PRICE INFORMATION
*Guide Price: This is an indication of the seller's current minimum acceptable price at Auction. The guide price is given to assist prospective buyers in deciding whether or not to pursue a purchase. It is usual, but not always the case, that a provisional reserve range is agreed between the seller and the Auctioneer at the start of marketing. As the reserve is not fixed at this stage and can be adjusted by the seller at any time up to the day of the Auction in the light of interest shown during the marketing period, a guide price is issued. This guide price can be shown in the form of a minimum and maximum price range within which an acceptable sale price (reserve) would fall, or as a single price figure within 10% of which the minimum acceptable price (reserve) would fall. A guide price is different to a reserve price (see separate definition). Both the guide price and the reserve price can be subject to change up to and including the day of the Auction. *Reserve Price: The seller's minimum acceptable price at Auction and the figure below which the Auctioneer cannot sell. The reserve price is not disclosed and remains confidential between the seller and the Auctioneer. Both the guide price and the reserve price can be subject to change up to and including the day of the Auction.
ADDITIONAL COSTS
*Please note that the following additional fees will apply to the purchase of your property: 1. A successful purchaser will have to pay a buyer's premium of £XXX plus VAT directly to the Auctioneer 2. Other fees as listed within the Special Conditions of Sale that form part of the legal pack which is made available to prospective buyers prior to Auction. Buyers will be will be expected to sign this document as well as the Sales Memorandum at the time of purchase. 3. Stamp Duty will have to be paid in addition to the sale price. Stamp Duty rates are available online 4. Prospective buyers must factor in solicitor fees and any survey fees 5. Insurance - it is the responsibility of the buyer to insure the property purchased from the date of exchange.
Specification
- Gross Income: £XXX
- Gross Yield: £XXX%
- 12 week completion
- Asset management potential
- Established and well located trade unit
- Let to Howden Joinery Properties Ltd
- Guaranteed by Howden Joinery Ltd (D&B rating 5A1)
- Howdens Joinery Plc are looking to expand in 2017