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
  • Sector
    High Street Retail
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • On Behalf of a Major Fund Manager
Important Update
  • Expand
  • Photos
  • Map

* More information on the term "guide" can be found here

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
  • 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

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.

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.

Property Documents

  • Catalogue Page
    Updated Date
    29.10.19
    File Size
    507 KB
    View PDF
  • Site Plan
    Updated Date
    29.10.19
    File Size
    43 KB
    View PDF
  • Common Auction conditions
    Updated Date
    10.06.21
    File Size
    168 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Seller's Solicitors
Eversheds 1 Callaghan Square
Cardiff
CF10 5BT
Alexandra Shapland 0292 047 7210AlexShapland2@eversheds.com

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk

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