Lancaster Road, Morecambe

A fantastic investment opportunity with a three bedroom flat and well-proportioned retail unit, both with tenants in situ. Located on Lancaster Road in Morecambe, you couldn’t pick a more convenient location with supermarkets, shops, eateries and pubs all on your doorstep. Excellent transport links lead to the centre of Morecambe, Lancaster and the M6 motorway via the Bay Gateway. With a vibrant community, stunning natural landscapes and upcoming investment projects bringing new investment to the area, it's the perfect time to invest in Morecambe.

A three bedroom flat with a private entrance sits across two floors and comprises of a spacious living room, kitchen, bathroom and three double bedrooms. With a long term tenant it is a safe investment with £500 rental income monthly and a tenant that wishes to remain.

The commercial unit on the ground floor comprises of a large office space, with a kitchen and bathroom. The lower ground floor features converted cellar rooms, previously housing a tattoo parlour, they are good sized dry rooms offering versatile space that can be tailored to the needs of the business. With a professional firm currently using the space a licence to occupy until 2026 and a rental income of £390 per month, it’s a great opportunity for savvy investors.

In total, the building returns £10,680 per annum, representing a 7.6% gross yield on asking price. The landlord confirms that there are no rent arrears with all rent payments up to date and a good history. It is intended that this freehold property is sold subject to the tenancies in existence and not with vacant possession

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Flat -

Living Room - 4.56 x 3.51 (14'11" x 11'6") - A large carpeted living room has ample room for multiple seating and storage options around the gas fireplace that forms the focal point of the room. Two double glazed windows on the front aspect provides daylight plenty of light, with a central ceiling light for the evenings. A double panel radiator sits against the wall and adds to the comfort of the socialising space.

Kitchen - 3.40 x 2.67 (11'1" x 8'9") - A good sized kitchen sits on the first floor, with a vinyl tile effect floor and cream cabinetry offering a practical space for food preparation and storage. Appliances include a four ring gas hob, an integrated oven and undercounter space for a washing machine.

Bathroom - 2.60 x 1.90 (8'6" x 6'2") - A practical three piece bathroom sits at the back of the flat, with white painted walls and a tiled backsplash around the sink and bath. The suite includes a low flush toilet, pedestal sink and a bathtub with shower attachment. Laminate flooring spans the room offering a durable and practical base, with a large fitted cabinet housing the Ideal boiler for the property and offering ample storage space for towels and linen. A frosted double glazed window on the rear aspect provides daylight, with a central ceiling light for use in the evenings.

Bedroom 1 - 4.64 x 3.58 (15'2" x 11'8") - A well-proportioned, carpeted double bedroom on the top floor boasts a double glazed window on the front aspect with views of the trees outside. Built in wardrobes provide plenty of storage space with an entertainment unit and dressing table. A double panel radiator and pendant ceiling light make this a comfortable sleeping space to rest and relax.

Bedroom 2 - 3.42 x 2.76 (11'2" x 9'0") - A double bedroom sits at the rear of the house, with a large double glazed skylight filling the space with natural light. Alcoves either side of the chimney breast offer space for storage units, with ample room for a double bed on the opposing wall, giving you flexibility to tailor the space to fit your needs.

Bedroom 3 - 3.28 x 2.17 (10'9" x 7'1") - A carpeted single bedroom sits off the first floor landing with a single glazed sash window on the rear aspect providing natural light. A double panel radiator sits against the neutral painted walls with a central ceiling light above. A versatile space, whether used as a bedroom, home office or hobby room, with easy access to the bathroom beside.

Commercial Unit -

Office Space - 7.37 x 3.50 (24'2" x 11'5") - A large open plan room at the front of the unit is perfectly suited to be an office or a shopfront, with a glass-fronted façade and plenty of passing footfall and traffic. Herringbone effect vinyl flooring spans the room, with three double panel radiators and two ceiling lights making it a bright, welcoming space to greet customers and clients.

Back Room - 3.34 x 3.13 (10'11" x 10'3") - A large back room sits to the rear of the open plan office, with fitted worksurface filling one wall with a sink unit at the end of the counter top. A window on the side aspect looks out the rear yard and provides natural light. Laminate flooring and a tiled backsplash make it a practical space, whether used for storage of supplies and products, or as a staff room.

Kitchen - 2.64 x 1.80 (8'7" x 5'10") - A kitchen at the rear of the property services the commercial unit, with fitted units on three walls offering plenty of storage space. A sink and drainer sits below the window on the side aspect, with the Vaillant boiler mounted int he corner of the room. There is space for a freestanding fridge freezer opposite the external door that leads out the rear yard and WC.

Wc - A WC sits in an outhouse off the rear yard, featuring a low flush toilet.

Cellar - 4.05 x 3.07 (13'3" x 10'0") - Laminate flooring spans the main cellar room, with a double panel radiator and central bar ceiling light above. Previously utilised as a tattoo studio, it’s a dry clean space that can be tailored to the needs of the business, whether for storage or additional office space. A fitted work surface spans one wall of the room, with double sockets around the perimeter offering flexibility in its set up. A second store room in the cellar offers a deep space with laminate flooring and a pendant light, perfect for keeping office supplies and equipment.

Rear Yard - A rear yard offers space for storage of materials and deliveries, with rear access from the alley behind.