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Showroom Investment Opportunity , 278, Fylde Road, Ashton-On-Ribble, Preston, PR2 2NJ
3,515 Sq Ft / Retail / Retail - High Street
Withdrawn - Last updated: 14 October 2021
The property comprises a semi-detached two storey brick-built building with retail / showroom space and garages at ground floor level and further accommodation at the front part of the first floor.
A limited amount of on street parking is available to the rear of the premises.
The property is held Long Leasehold for a term of 99 years from the 1st April 1982 providing just over 60 years. The rent payable is £XXX per annum.
The freeholder is Preston City Council.
Prominent position
Passing rent of £XXX pa
The net rent receivable equates to £XXX per annum.
A purchase at this level reflects a NIY of 11.46% assuming purchasers' costs of £XXX%
( Agency Pilot Software Ref: 545 )
Location
The subject premises occupy a prominent position on the corner of Fylde Road and Aqueduct Street approximately 1 mile to the west of Preston City Centre. Nearby retailers include Travis Perkins, ATS, Citroen and a furniture showroom.
Accommodation
Ground Floor & Stores: 1,780 sq ft
First Floor: 749 sq ft
Stores: 749 sq ft
Total: 3,515 sq ft
Terms
The property is entirely let to James Goulding from 22nd May 2020 until 21st May 2030 providing approximately 9.80 years to expiry. There is a tenant only option to determine the lease on 21st May 2025. The lease is drawn up on Full Repairing & Insuring terms. The annual passing rent equates to £XXX per annum. We are instructed to seek offers in excess of £XXX (One Hundred and Ten Thousand Pounds) subject to contract and exclusive of VAT. A purchase at this level will reflect a Net Initial Yield of 11.46% assuming purchasers' costs of 1.80%.
EPC The property has an energy performance rating of 71 (Band C). A copy of the energy performance certificate is available upon request.
VAT The property is elected for VAT.
Specification
- Prominent position
- Passing rent of £XXX pa
- The net rent receivable equates to £XXX per annum.
- A purchase at this level reflects a NIY of 11.46% assuming purchasers' costs of £XXX%
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