Freehold Retail and Office Investment with Residential Potential
Tenants include Caversham Finance Ltd t/a Brighthouse
Prominent town centre location
Nearby occupiers include Primark, Costa and KFC
Residential prior approval for six flats
Approximately 905.84 sq m (9,750 sq ft)
Car parking
Lot 18
Auction 19th October 2017
Rent £65,000 per Annum Exclusive
Status Sold
Price £795,000
Sector High Street Retail
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
10 miles south of Blackpool
30 miles north-west of Manchester
16 miles north of Liverpool
Roads
A570, A565, M58
Rail
300 metres to Southport Station
Air
Blackpool International, Liverpool John Lennon, Manchester
Situation
The property is prominently situated on the south side of Eastbank Street, at its junction with Queen Anne Street and some 50 metres south of the prime pedestrianised retail
thoroughfare of Chapel Street with occupiers including Primark, Pandora, Holland & Barrett and WH Smith.
Tenure
Freehold.
Location
Miles
10 miles south of Blackpool
30 miles north-west of Manchester
16 miles north of Liverpool
Roads
A570, A565, M58
Rail
300 metres to Southport Station
Air
Blackpool International, Liverpool John Lennon, Manchester
Situation
The property is prominently situated on the south side of Eastbank Street, at its junction with Queen Anne Street and some 50 metres south of the prime pedestrianised retail
thoroughfare of Chapel Street with occupiers including Primark, Pandora, Holland & Barrett and WH Smith.
Tenure
Freehold.
Description
The property comprises two retail units on the ground floor and self-contained accommodation on the first floor and second floor. The property benefits from car parking at the rear.
VAT
VAT is applicable to this lot.
Planning
The office accommodation benefits from prior approval granted on 09/06/2017 by Sefton Council Reference number DC/2017/00443 for 4 x 2 bedroom flats and 2 x 1 bedroom flats. A copy of the plans are available in the legal pack.
Completion Period
Six week completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises two retail units on the ground floor and self-contained accommodation on the first floor and second floor. The property benefits from car parking at the rear.
VAT
VAT is applicable to this lot.
Planning
The office accommodation benefits from prior approval granted on 09/06/2017 by Sefton Council Reference number DC/2017/00443 for 4 x 2 bedroom flats and 2 x 1 bedroom flats. A copy of the plans are available in the legal pack.
Completion Period
Six week completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Unit
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Review/ (Reversion)
Shop 2 and 3
Ground Mezzanine
Retail/ Ancillary
263.80 sq m 82.44 sq m
(2,840 sq ft) (887 sq ft)
CAVERSHAM FINANCE LIMITED t/a Brighthouse (1)
From 27th July 2009 until 24th December 2025
£55,000
24/12/2020 (24/12/2025)
Shop 1
Ground
Retail/ Ancillary
40.20 sq m
(433 sq ft)
T V PATEL t/a Eastbank News
10 years from 21/2/2012
£10,000
21/02/2017 (2) and 20/02/2022
First
Second
Office
Office
259.70 sq m
259.70 sq m
(2,795 sq ft)
(2,795 sq ft)
VACANT POSSESSION (3) VACANT POSSESSION
Total
905.84 sq m
(9,750 sq ft )
£65,000
(1) For the year ending 31st March 2015, Caversham Finance Limited reported a turnover of £344,185,000, pre-tax profits of £48,739,000 and a net worth of £145,300,000 (www.riskdisk.com 29/09/2017). (2) As to Shop 2, the 2017 rent review has not been actioned. (3) An offer has been received from an interested party to take a lease of the upper parts for a term of 10 years at a rent of £5 per square foot (GIA), subject to a 2 year rent free period and an option to buy a 125 year lease of the upper parts for £230,000.
