Promenade, Blackpool, Lancashire, FY1
£420,000
Business rates & charges may apply
- SIZE
Ask agent
- SECTOR
Mixed use property for sale
Key features
- Investment Property Comprising 6 Tenanted Commercial Businesses
- North Shore, Blackpool
- Busy Promenade Location
- Prominent Corner Position
- Close to Town Centre
- Currently Draws Circa £50,000 per annum
- Potential to Develop into Apartments Subject to Planning Permission
- Mid Terraced Double Fronted Property
- Viewing Recommended
Description
DESCRIPTION: Kenricks are delighted to offer this Investment Property for Sale.
This substantial corner 3 storey investment property comprising 6 mixed use commercial businesses is situated on the corner of North Promenade and Cocker Street close to the town centre and North Pier. There are Council Car parks close by.
There may be potential for future development to apartments subject to planning permission.
The property needs to be viewed to be fully appreciated.
No. 218 North Promenade - Lodge Hotel
Unit 1 15-bedroom hotel with private car parking to the rear.
Ground Floor
Entrance hall:
Lounge.
Dining Area/ Bar.
Kitchen.
Storeroom.
Bathroom.
Yard.
First Floor
5 Double Bedrooms - 4 En - suite.
1 Single Bedroom.
Toilet.
Private lounge.
2 Bedrooms.
Shower room.
Stores.
Second Floor
3 Family Bedrooms- All En-Suite.
5 Double Bedrooms- All En suite.
1 Single Bedroom.
Toilet.
Shower room.
Storeroom
Third Floor
Attic unused with 2 Bedrooms.
Showroom.
No.220 North Promenade & 1 & 2 Cocker Square
Unit 2 Promenade Toys, Sweets, Rock, Ice Cream, Off Licence
Ground Floor (Approx 425 sq ft)
Office.
Stores.
Basement Area with toilet.
No. 3 Cocker Square
Unit 3 - (approx.. 120 sq. ft) - Retail Gifts.
Single unit kitchenette.
Toilet.
Mezzanine storage.
No 4 & 5 Cocker Square
Unit 4 - (approx. 500 sq. ft plus) - Preloved collectables
Double unit with stores.
Toilet.
Half basement store and toilet.
No. 6 Cocker Square
Unit 5 - Lodge Guest House.
Ground Floor:
Entrance hall & stairs.
Basement storage rear yard.
First Floor:
Laundry store with boiler.
2 Twin bedrooms - En- Suite.
Guest lounge.
Office.
Dining kitchen.
Second Floor:
4 Bedrooms - En - suite.
No.7 Cocker Square
Unit 6 - Cafe
Ground Floor
Corner cafe with 24 covers.
Kitchen/servery.
Toilet.
Forecourt seating with 10 covers.
Rear yard.
Basement store.
EXTERIOR; Unit 1 has car parking and a yard to the rear. Unit 6 has a yard to the rear and forecourt seating to the front.
AGENTS NOTES: L2 fire alarm system installed. All units have separate utilities and their own individual Combi Boilers.
BUSINESS:
Unit 1: 3 year lease + 3 year option from December 2024. Rent £16,800pa. (same tenant since 2019).
Unit 2: 2 year lease + 3 year option from December 2025. Rent £12,000pa. New tenant, previous tenant retired after 14 years.
Unit 3: 1 year lease + 2 year option from December 2024. Tenant taken option. Rent £3,120pa.
Unit 4: 1 year lease from December 2024 plus option for further 2 years. Tenant taken option. Rent £5,200pa.
Unit 5: 3 years from December 2024 + 3 year option. Tenant taken option. Rent £7,200pa. In occupancy for 6 years.
Unit 6: 3 years from December 2024 + 3 year option. Rent £6,400pa. Tenant in occupancy for 21 years.
Current rental income £50,720 per annum (£24,000 hospitality and £26,720 retail giving 12.08% return).
Future potential (subject to planning permission) for development per floor of 6 x 1 bed units or 4 x 2 bed units x 5 floors or conversion of hospitality to 9 holiday or permanent flat + retail (subject to planning permission).
TENURE: Freehold.
VIEWING: By appointment through Kenricks .
This substantial corner 3 storey investment property comprising 6 mixed use commercial businesses is situated on the corner of North Promenade and Cocker Street close to the town centre and North Pier. There are Council Car parks close by.
There may be potential for future development to apartments subject to planning permission.
The property needs to be viewed to be fully appreciated.
No. 218 North Promenade - Lodge Hotel
Unit 1 15-bedroom hotel with private car parking to the rear.
Ground Floor
Entrance hall:
Lounge.
Dining Area/ Bar.
Kitchen.
Storeroom.
Bathroom.
Yard.
First Floor
5 Double Bedrooms - 4 En - suite.
1 Single Bedroom.
Toilet.
Private lounge.
2 Bedrooms.
Shower room.
Stores.
Second Floor
3 Family Bedrooms- All En-Suite.
5 Double Bedrooms- All En suite.
1 Single Bedroom.
Toilet.
Shower room.
Storeroom
Third Floor
Attic unused with 2 Bedrooms.
Showroom.
No.220 North Promenade & 1 & 2 Cocker Square
Unit 2 Promenade Toys, Sweets, Rock, Ice Cream, Off Licence
Ground Floor (Approx 425 sq ft)
Office.
Stores.
Basement Area with toilet.
No. 3 Cocker Square
Unit 3 - (approx.. 120 sq. ft) - Retail Gifts.
Single unit kitchenette.
Toilet.
Mezzanine storage.
No 4 & 5 Cocker Square
Unit 4 - (approx. 500 sq. ft plus) - Preloved collectables
Double unit with stores.
Toilet.
Half basement store and toilet.
No. 6 Cocker Square
Unit 5 - Lodge Guest House.
Ground Floor:
Entrance hall & stairs.
Basement storage rear yard.
First Floor:
Laundry store with boiler.
2 Twin bedrooms - En- Suite.
Guest lounge.
Office.
Dining kitchen.
Second Floor:
4 Bedrooms - En - suite.
No.7 Cocker Square
Unit 6 - Cafe
Ground Floor
Corner cafe with 24 covers.
Kitchen/servery.
Toilet.
Forecourt seating with 10 covers.
Rear yard.
Basement store.
EXTERIOR; Unit 1 has car parking and a yard to the rear. Unit 6 has a yard to the rear and forecourt seating to the front.
AGENTS NOTES: L2 fire alarm system installed. All units have separate utilities and their own individual Combi Boilers.
BUSINESS:
Unit 1: 3 year lease + 3 year option from December 2024. Rent £16,800pa. (same tenant since 2019).
Unit 2: 2 year lease + 3 year option from December 2025. Rent £12,000pa. New tenant, previous tenant retired after 14 years.
Unit 3: 1 year lease + 2 year option from December 2024. Tenant taken option. Rent £3,120pa.
Unit 4: 1 year lease from December 2024 plus option for further 2 years. Tenant taken option. Rent £5,200pa.
Unit 5: 3 years from December 2024 + 3 year option. Tenant taken option. Rent £7,200pa. In occupancy for 6 years.
Unit 6: 3 years from December 2024 + 3 year option. Rent £6,400pa. Tenant in occupancy for 21 years.
Current rental income £50,720 per annum (£24,000 hospitality and £26,720 retail giving 12.08% return).
Future potential (subject to planning permission) for development per floor of 6 x 1 bed units or 4 x 2 bed units x 5 floors or conversion of hospitality to 9 holiday or permanent flat + retail (subject to planning permission).
TENURE: Freehold.
VIEWING: By appointment through Kenricks .
Promenade, Blackpool, Lancashire, FY1
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- Blackpool North Station0.2 miles
- Layton Station1.3 miles
- Blackpool South Station1.7 miles
Notes
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