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

Virtual Freehold Retail Investment

  • Three shops in a predominantly residential suburb
  • 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
    05/Dec/2018
  • Rent
    £23,900 per Annum Exclusive
  • Status
    Available
  • Price*
    Contact Us
  • Sector
    High Street Retail
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
Important Property Update
  • Millennium Heights, Units 1 2 & 3<br>Lune Quays, Lune Street<br>Lancaster<br>Lancashire<br>LA1 2AT
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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.

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

UnitFloorUseFloor Areas (Approx)TenantTermRent p.a.x Reversion
Unit 1 GroundRetail
60.38 sq m
(650 sq ft)
NO.1 THE SALON
LIMITED (1)
with guarantee
3 years from
07/04/2011
£9,000Holding
over
Unit 2 GroundRetail
62.07 sq m
(668 sq ft)
INDIVIDUAL
t/a Andersens
Kitchen Design (2)
6 years from
04/02/2014
£8,4002020
Unit 3 GroundCafé
58.80 sq m
(633 sq ft)
INDIVIDUALS
t/a The Holistic
Foundation (3)
5 years from
14/08/2018 (4)
£6,5002023 (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.

Property Documents

  • Solicitors Legal Pack
    Updated Date
    26.11.18
    File Size
    24 MB
    Login to View
  • Site Plan
    Updated Date
    13.11.18
    File Size
    361 KB
    View PDF
  • Catalogue Page
    Updated Date
    13.11.18
    File Size
    513 KB
    View PDF
  • Common Auction conditions
    Updated Date
    27.03.17
    File Size
    124 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Acuitus
Peter MayoPeter Mayo +44 (0)20 7034 4864 +44 (0)7833 459318Peter.mayo@acuitus.co.uk
George GoucherGeorge Goucher +44 (0)20 7034 4860george.goucher@acuitus.co.uk
Seller's Solicitors
Premiere Solicitors Premier House, Lurke Street
Bedford
MK30 3HU
Navroop Kaur 01234 880 104Navroop.Kaur@premiersolicitors.co.uk

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