Market Street, Lancaster

LOCATION
High Footfall City Space
Occupiers in the location comprise Entwistle Green estates Agency, Diggles Café, Mighty House Student Lettings, All Hopes No Dreams restaurant, HSBC bank, JDG Estate Agency and R&B Estate Agents
Lancaster has two high listing successful universities and with this a resident student population of excess of 13,000 students. The district has a residing populus of excess of 145,500 people.
The Lancaster district GDP is reported as £4.5 billion and is set within easy reach of London by train and is on the direct airport train link to Manchester Airport. The English Lake District is within 35mins, the Yorkshire Dales within 25mins drive.

DESCRIPTION
The property offers prime high street frontage in a high foot fall location, being on the primary route between Penny Street and Lancaster Railway Station.

The retail premises are arranged over ground, first and second floor accommodation.

Lancaster city centre operates a BID district, this promotes the city centre, generates a twice weekly market day offering and several festivals across the annual callender, including Light Fest, Jazz Fest and other celebration days

ACCOMMODATION
Ground Floor
Counter Servery Fitted Kitchen Large shop front Disabled WC Rear Store Rear Lobby WC. Wash hand basin. Air conditioning unit. UPVC double glazed window. Wall mounted electric heater. Back door to rear enclosed yard.
Sales 80.21 sq.m. / 863 sq.ft.
Store 17.67 sq.m. / 190 sq.ft.
First Floor
Landing, front right and left hand offices, a separate kitchen. Sash windows are fitted. Air conditioning units installed. Suspended ceiling. Fluorescent strip lighting is fitted. There are both Ladies and Gents WC toilets.
Total 30.58 sq.m. / 329 sq.ft.
Second Floor
Front right hand and left hand offices. Sash windows are fitted. Air conditioning units installed. Fluorescent strip lighting is fitted.
Total 44.95 sq.m. / 483 sq.ft.
Externally
The rear service yard gives direct access to Bashful Alley.

AMENITIES
Occupiers in the location comprise Entwistle Green estates Agency, Diggles Café, Mighty House Student Lettings, All Hopes No Dreams restaurant, HSBC bank, JDG Estate Agency and R&B Estate Agents.

SERVICES
Mains water, electricity in a 3-phse supply, and drainage are all connected to the property. There is no gas connected but this known to be available within the street for separate connection.

TERMS
The premises are offered to-let on an assignment of the current lease, or a new term negotiated directly with the Landlord.
The current lease is granted for a term of ten years from the 8th September 2017 and is on effective full repairing and insuring basis.
The passing rent is equal to £26,000 per annum exclusive.

OUTGOINGS
The Valuation Office Agency website notes an Rateable Value at £24,500 rateable value.

VAT
All sums quoted are exclusive of VAT which may be charged at the prevailing rate at the date of transaction.

LEGAL COSTS
The ingoing Tenant will be responsible for the Landlord´s reasonable legal costs incurred in the assignment of the lease or, if a surrender and grant of a new tenancy is agreed.

PARKING NOTES
Vehicle is access is from front of the premises. Market Street has restricted vehicle access after 10am in the morning (unless Blue badge holders) however local authority permits can be secured for a rate of £5 per day per vehicle (on application).

PLANNING
The property is reasonably believed to hold an established grant for use as a café premises and or retail operation under an E class use. Enquires with Lancaster City Council planning department may be made on:
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OTHER
PURCHASE
By separate negotiation, the property may be available to purchase. Advertised price on application to the agent.
CONTRACT
The whole of these terms are subject to contract

VIEWING
Viewing strictly by appointment with our joint agent Richard P Taylor Chartered Surveyors