499 Promenade, Blackpool, FY4 1BA

A substantial 3 storey property located in a prime Promenade position next door to the Wetherspoons Velvet Coaster pub opposite South Pier. The property also fronts onto Simpson Street with other attractions close by include the famous Pleasure Beach theme park, Grosvenor Casino and the Sandcastle Waterpark. The building is occupied by two long standing commercial tenants producing a current rental income of £77,750 per annum. Opportunity to acquire a commercial investment in a prime location on Blackpool Promenade producing a 10% initial gross yield.
FOR SALE BY ALLSOP AUCTION: GUIDE PRICE £500,000 to £550,000




LOCATION
The property is located immediately south of the junction of the Promenade and Station Road in a prime promenade position next door to the Wetherspoons Velvet Coaster pub opposite South Pier. Other attractions close by include the famous Pleasure Beach theme park and the Sandcastle Waterpark.

GROUND FLOOR
Fish and chip shop together with forecourt kiosks. Approx. sizes sourced from VOA web site confirm 115 sqm.

FIRST FLOOR
Restaurant and steakhouse. Approx. sizes sourced from VOA web site confirm 128 sqm.

SECOND FLOOR
Restaurant and steakhouse continued. Approx. sizes sourced from VOA web site confirm 155 sqm.

BUSINESS
Lease Schedule;

499 Promenade ground floor and forecourt kiosks - 10 year term from 27th June 2023. Rent £68,000 per annum. 5 year rent review June 2028.

499a Promenade first and second floor - 10 year lease from August 2018. Rent £9,750 per annum. Review August 2028.

SERVICES
All mains.

TENURE
Freehold.