Retail Property (high street) for sale

Unit 4, Lunedale House, Market Street, Morecambe, Lancashire, LA4 5DW

Fixed Price £300,000
3,500 sq. ft.

Property Description

Commercial information

  • 3,500 sq ft (325 sq m)
  • Use class orders: A2 Financial and Professional Services and Class E

Key features

  • 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.

Full description

Tenure: Freehold

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.

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.


More information from this agent

Nearest stations

  • Morecambe (0.2 mi)
  • Bare Lane (1.3 mi)
  • Lancaster (2.9 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Blue Alpine , London

83c Ashley Gardens, Thirleby Road, London, SW1P 1HG

020 8012 6273 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Map & Street View

Nearest stations

  • Morecambe (0.2 mi)
  • Bare Lane (1.3 mi)
  • Lancaster (2.9 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Blue Alpine , London

83c Ashley Gardens, Thirleby Road, London, SW1P 1HG

020 8012 6273 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Disclaimer - Property reference Morecambe_TSB. 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 Blue Alpine , London. 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.

* Average speeds are based on the download speeds of at least 50% of customers at peak time (8pm to 10pm) from packages available on comparethemarket.com. Speed can be affected by a range of technical and environmental factors. The speed you receive where you live may be lower than that listed above. You can check the estimated speed to your property prior to purchasing. Fibre/cable services at your postcode are subject to availability. You can confirm availability on the provider's website. Providers may increase charges. You should have the right to exit your contract without penalty if this happens. The information is provided and maintained by Decision Technologies Limited.

Map data OpenStreetMap contributors.