Market Street, Lancaster

LOCATION
The property fronts onto Market Street, being part of the pedestrianised heart of Lancaster city center.
Market Street forms one part of the city´s prime retail core, and Market Square which is opposite the premises forms a pivotal part of the Love Lancaster offering for festivals and the well attended weekly market stall traders.
Footfall is noted as being +7.8% up within Lancaster with other principle Lancashire towns & city´s being down. Retail vacancy is currently noted at <5% across the city center.
The city´s rail station is within 350m and the city´s bus interchange hub is less than 250m.
Other users in close proximity include Lloyds Bank, HSBC Bank, Diggles café & takeaway, Tui Travel Agents, TK Maxx, and other independent food operators and estate agents, etc.

DESCRIPTION
The building is mid terraced, is of three storeys and is formed with traditional Ashlar stone façade. The rear of the property is of brick construction beneath flat felted roof surfaces.
The ground floor offers open plan retail space (formerly fitted as a Mountain Warehouse), having rear stores and access to a goods access yard. The upper floors, at first and second floor levels offer open plan stores of good proportion and benefit from good natural light.
There is a modern double glazed aluminium retail shop façade fitted to ground level and a centrally located double opening pedestrian access inset. To the rear of the property is an enclosed shared yard that may be suitable for storage of bins and deliveries.

ACCOMMODATION
Ground floor sales (net internal): 1,554ft2 / 144.37m2
The shop has a gross dimensions of:
Frontage 7.38m / 24´2"
Internal Width 7.13m / 23´4"
Shop Depth 24.2m / 79´5"

First floor sales / storage: 887ft2 / 82.40m2
Second floor storage: 705ft2 / 65.50m2

SERVICES
Mains water, 3-phase electricity and drainage are all connected to the property.

TERMS
The freehold interest is advertised at an initial asking price of £380,000 exclusive and subject to proposed leases.

OUTGOINGS
We have ascertained from the VOA website that the premises are assessed within the 2023 List as Shop & Premises - RV £37,500 RV.

VAT
All sums quoted by these particulars are exclusive of and will not be liable to VAT.

LEGAL COSTS
Each party will be responsible for their own legal costs incurred in the preparation of the lease.

PLANNING
The agent believes that premises as a whole benefits from an established use class classification under Class E (business, commercial or service uses) of the Town and Country Planning (Use Classes) Order 1987 (as amended).

A ´shovel ready´ first and second floor use for 4 x 1-bedroom student studio´s is evident. The grant of planning is noted by - 25/00607/FUL and comprises alterations to include the new ground floor entrance.

OTHER
The ground floor premises (separately advertised To Let) has an asking rent of £34,000 per annum exclusive. Subject to contract terms are agreed for its accommodation and details are available on request.

VIEWING
Viewing strictly by appointment with our joint agent, R.P Taylor Chartered Surveyors