Unit 1&2, 16-20 Cheapside, Lancaster
Business rates & charges may apply
- SIZE
Ask agent
- SECTOR
Commercial property for sale
Key features
- Prime, High Yielding, Retail Investment
- Two Retail Units on Popular Pedestrianised Street
- Majority Let to Specsavers Optical Superstores
- WAULT of 5.67 Years to Expiry
- Total Rent £91,500 per annum
- 6,333 sq ft (588.4 sq m)
- Guide Price Reflects 11.43% Gross Yield
- Six Week Completion Available
Description
The property comprises a prime, high yielding, retail investment situated in the pedestrianised centre of Lancaster.
Comprising two units arranged across ground and first floors, the property is fully let to two separate tenants and producing a total income of £91,500 per annum.
The majority of the property is let to Specsavers Optical Superstores Limited on a new lease expiring 23/10/2028. The rent has been recently re-based from £110,000 per annum to £71,500 per annum.
The remainder of the property is let to Gadgets4UK Enterprises Limited (t/a Phone Direct) on a lease expiring 30/10/2032 and paying £20,000 per annum.
Cheapside forms one of the principal, pedestrianised, retail streets within Lancaster, with nearby occupiers including Costa, McDonalds, Betfred and TK Maxx.
Lancaster Station - 0.8 miles
M6 (Junction 34) - 2.1 miles
Unit 1&2, 16-20 Cheapside, Lancaster
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- Lancaster Station0.3 miles
- Bare Lane Station2.3 miles
- Morecambe Station3.2 miles
About Savills, Savills, Auctions
33 Margaret Street, London, W1G 0JD
Notes
Disclaimer - Property reference 598134EA-790F-4F03-9DB1-F21A8A69C884. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Savills, Savills, Auctions. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.
Auction Fees: The purchase of this property may include associated fees not listed here, as it is to be sold via auction. To find out more about the fees associated with this property please call Savills, Savills, Auctions on 020 3834 8097.
*Guide Price: An indication of a seller's minimum expectation at auction and given as a “Guide Price” or a range of “Guide Prices”. This is not necessarily the figure a property will sell for and is subject to change prior to the auction.
Reserve Price: Each auction property will be subject to a “Reserve Price” below which the property cannot be sold at auction. Normally the “Reserve Price” will be set within the range of “Guide Prices” or no more than 10% above a single “Guide Price.”
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