95 & 97a Penny Street, Lancaster, LA1 1XN
- PROPERTY TYPE
Mixed Use
- BEDROOMS
1
- BATHROOMS
1
- SIZE
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Key features
- Commercial & Residential Unit
- Modern Auction Method
- *NO CHAIN*
- Tenants In SITU
- Residential Flat- Renovation Needed
- Lancaster City Centre Location
- Income on Purchase
- Viewing Essential
Description
MIXED-USE INVESTMENT OPPORTUNITY
An exciting opportunity to purchase a mixed-use commercial and residential property located in the popular Lancaster City Centre, comprising a hairdressing salon and barber shop arranged over two floors, together with a separate one-bedroom residential flat, with its own separate entrance.
The commercial premises are currently occupied by established hairdresser and barber tenants, who will remain in situ, offering an attractive opportunity for an investor looking to acquire a property producing an instant income with an existing tenant. The residential accommodation comprises of a one bedroom flat featuring a double bedroom, bathroom, kitchen and a reception room. Please note, this is need of renovation. The combination of commercial and residential accommodation provides the property with excellent potential.
Situated within walking distance of the heart of Lancaster City Centre, Lancaster train station and Royal infirmary the property benefits from a highly convenient and accessible location. The surrounding area offers a wide range of high street retailers, restaurants, local ran cafes, bars and everyday amenities.
Auction
This property is for sale by the Modern Method of Auction, meaning the buyer and seller are to Complete within 56 days (the "Reservation Period"). Interested parties personal data will be shared with the Auctioneer (iamsold).
If considering buying with a mortgage, inspect and consider the property carefully with your lender before bidding.
A Buyer Information Pack is provided. The winning bidder will pay £300.00 including VAT for this pack which you must view before bidding.
The buyer signs a Reservation Agreement and makes payment of a non-refundable Reservation Fee of 4.50% of the purchase price including VAT, subject to a minimum of £6,600.00 including VAT. This is paid to reserve the property to the buyer during the Reservation Period and is paid in addition to the purchase price. This is considered within calculations for Stamp Duty Land Tax.
Services may be recommended by the Agent or Auctioneer in which they will receive payment from the service provider if the service is taken. Payment varies but will be no more than £450.00. These services are optional.
95 & 97a Penny Street, Lancaster, LA1 1XN
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- Lancaster Station0.4 miles
- Bare Lane Station2.5 miles
- Morecambe Station3.3 miles
Notes
Disclaimer - Property reference P2821. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Fisher Wrathall, Lancaster. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.
Auction Fees: The purchase of this property may include associated fees not listed here, as it is to be sold via auction. To find out more about the fees associated with this property please call Fisher Wrathall, Lancaster on 01524 967560.
*Guide Price: An indication of a seller's minimum expectation at auction and given as a “Guide Price” or a range of “Guide Prices”. This is not necessarily the figure a property will sell for and is subject to change prior to the auction.
Reserve Price: Each auction property will be subject to a “Reserve Price” below which the property cannot be sold at auction. Normally the “Reserve Price” will be set within the range of “Guide Prices” or no more than 10% above a single “Guide Price.”