Millennium Heights Units 1, 2 & 3, Lune Quays, Lune Street Lancaster Lancashire LA1 2AT

Millennium Heights
Units 1, 2 & 3, Lune Quays, Lune Street
Lancaster
Lancashire
LA1 2AT

Modern Retail Investment

Three Fully Let Modern Retail Units
Forms part of large modern residential development
Located on Lune Street close the Millennium Bridge
For the Seller's Legal Pack, please click the Property Documents tab below

Lot
47
Auction
16th February 2017
Rent
£23,900 per Annum Exclusive
Status
Sold
Price
£208,000
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG
On Behalf of a Major Fund Manager

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Modern Retail Investment

Three Fully Let Modern Retail Units
Forms part of large modern residential development
Located on Lune Street close the Millennium Bridge
For the Seller's Legal Pack, please click the Property Documents tab below

Lot 47
Auction 16th February 2017
Rent £23,900 per Annum Exclusive
Status Sold
Price £208,000
Sector
High Street Retail
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG
On Behalf of a Major Fund Manager

Property Information

Location

Miles: 25 miles north-east of Blackpool, 53 miles north-west of Manchester
Roads: A683, A6, M6 (Junction 33)
Rail: Lancaster Rail Station
Air: Leeds Bradford, Manchester International

Situation

The property is situated to the north of Lancaster town centre, on the eastern side of Lune Street a short distance from Millennium Bridge (A6), which connects with the M6 (Junction 33). The units forms part of Lune Quays, a large modern residential block and local retail parade.

Tenure

Virtual Freehold. Held from First Base Homes Limited for a term of 999 years from 01/04/2004 at a peppercorn rent.

Location

Miles: 25 miles north-east of Blackpool, 53 miles north-west of Manchester
Roads: A683, A6, M6 (Junction 33)
Rail: Lancaster Rail Station
Air: Leeds Bradford, Manchester International

Situation

Tenure

Virtual Freehold. Held from First Base Homes Limited for a term of 999 years from 01/04/2004 at a peppercorn rent.

Description

The property forms part of the ground floor of a modern residential building and comprises three units trading as a café, hairdressers and a kitchen design shop.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

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

Description

The property forms part of the ground floor of a modern residential building and comprises three units trading as a café, hairdressers and a kitchen design shop.

VAT

VAT is applicable to this lot.

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	Reversion
Unit 1	Ground	Retail	60.38 sq m	(650 sq ft)	NO.1 THE SALON LIMITED (1) WITH GUARANTEE	3 years from 07/04/2011	£9,000	Holding Over
Unit 2	Ground	Retail	51.09 sq m	(550 sq ft)	INDIVIDUAL (t/a Andersen’s Kitchen Design) (2)	6 years from 04/02/2014 (3)	£8,400	03/02/2020
Unit 3	Ground	Café	58.80 sq m	(633 sq ft)	INDIVIDUAL (t/a Hargreaves Sandwich Shop)	3 years from 15/08/2016	£6,500	14/08/2019
Total			170.27 sq m	(1,833 sq ft)			£23,900

(1) No.1 The Salon is a vibrant hairdressers on the outskirts of Lancaster, with a fantastic multi-talented team of stylists to cater for all hairdressing needs. (Source: no1thesalon.co.uk 06/01/2017)
(2) Andersens Kitchen Design offer an extensive range of bespoke kitchen styles and fitted bedroom suites. (Source: andersenskitchendesign.co.uk 06/01/2017)
(3) The current lease is for a term of 3 years from 04/02/2014 which a 3 year reversionary lease in place from expiry of the current term.