13/15 Penny Street Lancaster LA1 1UA

13/15 Penny Street
Lancaster
LA1 1UA

Freehold Retail Investment

Entirely let to Vision Express (UK) Limited
Historic city centre location on prime pedestrianised retailing thoroughfare
Recently refurbished double fronted unit
Nearby occupiers include Wilko, O2, Monsoon, River Island, Marks & Spencer and Santander
Buyer's Legal Report available <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>

Lot
11
Auction
21st May 2015
Rent
£1,012,000 per Annum Exclusive
Status
Sold
Price
£1,190,000
Auction Venue
Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

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Freehold Retail Investment

Entirely let to Vision Express (UK) Limited
Historic city centre location on prime pedestrianised retailing thoroughfare
Recently refurbished double fronted unit
Nearby occupiers include Wilko, O2, Monsoon, River Island, Marks & Spencer and Santander
Buyer's Legal Report available <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>

Lot 11
Auction 21st May 2015
Rent £1,012,000 per Annum Exclusive
Status Sold
Price £1,190,000
Sector
High Street Retail
Auction Venue
Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

Property Information

Location

Miles: 25 miles north-east of Blackpool, 53 miles north-west of Manchester
Roads: A683, M6
Rail: Lancaster Rail Station
Air: Leeds Bradford, Manchester International

Situation

The property is situated in the heart of Lancaster on the eastern side of the pedestrianised Penny Street, one of the town’s main retailing thoroughfares.
The property is within close proximity of St Nicholas Arcades and Marketgate
Shopping Centre, with other nearby occupiers including Wilko, O2, Monsoon, River Island, Marks & Spencer and Santander.

Tenure

Freehold.

Location

Miles: 25 miles north-east of Blackpool, 53 miles north-west of Manchester
Roads: A683, M6
Rail: Lancaster Rail Station
Air: Leeds Bradford, Manchester International

Situation

Tenure

Freehold.

Description

The property comprises a recently refurbished ground floor retail unit with ancillary accommodation on the first and second floor. In addition, the property benefits from extensive return frontage onto Frances Passage.

Six Week Completion

Buyer's Legal Report
For the ease and convenience of prospective buyers, to speed up the process of investigating a possible purchase and to minimise the legal costs an independent legal title report is available here.

VAT

VAT is applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

VAT

VAT is applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Review
Ground First Second	Retail Ancillary Ancillary	117.20 sq m 86.70 sq m 75.20 sq m	(1,261 sq ft) (933 sq ft) (810 sq ft)	VISION EXPRESS (UK) LIMITED (1)	25 years from 26/04/1996 until 25/04/2021 on a full repairing and insuring lease	£101,200	26/04/2016
Totals		279.10 sq m	(3,004 sq ft)			£101,200

1) For the year ending 31st December 2013, Vision Express (UK) Limited reported a turnover of £216,682,000, pre-tax profits of £18,220,000 and a total net worth of £19,067,000. (Source: www.riskdisk.com 15/04/2014)