Forms part of large modern residential development
Located on Lune Street, close to the Millennium Bridge
Unit 3 let on a new lease from 2018
Lot 53
Auction 5th December 2018
Rent £23,900 per Annum Exclusive
Status Withdrawn Post
Price
Sector High Street Retail
Auction Venue The 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, 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 form part of Lune Quays, a large modern residential block and local retail parade.
Tenure
Virtual Freehold. Virtual Freehold. Held from First Base Homes Limited for a term of 999 years from 1st April 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 form part of Lune Quays, a large modern residential block and local retail parade.
Tenure
Virtual Freehold. Virtual Freehold. Held from First Base Homes Limited for a term of 999 years from 1st April 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. The café has recently been refurbished by the tenant.
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. The café has recently been refurbished by the tenant.
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
62.07 sq m
(668 sq ft)
INDIVIDUAL t/a Andersens Kitchen Design (2)
6 years from 04/02/2014
£8,400
2020
Unit 3
Ground
Café
58.80 sq m
(633 sq ft)
INDIVIDUALS t/a The Holistic Foundation (3)
5 years from 14/08/2018 (4)
£6,500
2023 (4)
Total
181.25 sq m
(1,951 sq ft)
£23,900
(1) No.1 The Salon is a vibrant hairdressers on the outskirts of Lancaster, just a short walk from Millennium Bridge, with ample free parking available directly outside the salon (Source: www.no1thesalon.co.uk). (2) Andersens Kitchen Design offers an extensive range of bespoke kitchen styles and fitted bedroom suites (Source: www.andersenskitchendesign.co.uk). (3) The Holistic Foundation was created from our previous military charity, Direct Transitioning Help (DTH), to help vulnerable soldiers and their families transition back to civilian life (Source: www.theholisticfoundation.co.uk). (4) Option to determine 2021.
