61-71 Church Street
Blackpool
FY1 4NP

Prominent Freehold Bank, Retail & Restaurant Investment

  • Pedestrianised city centre location
  • Part let to Bank of Scotland Plc until 2027 (no breaks)
  • Part let to Savers Health & Beauty Ltd until 2029 (5)
  • Close proximity to Blackpool Tower and The Winter Gardens
  • Development potential and over 24,000 sq ft
  • Nearby occupiers include Pizza Express, Greggs, British Heart Foundation and Costa Coffee
  • Lot
    38
  • Auction
    24/Oct/2019
  • Rent
    £155,000 per Annum Exclusive
  • Status
    Available
  • Price*
    Contact Us
  • Sector
    High Street Retail
  • Auction Venue
    The Montcalm Hotel
    2 Wallenberg Place
    London W1H 7TN
  • On behalf of a Major Fund Manager
Important Auction & Property Update
  • 61-71 Church Street<br>Blackpool<br>FY1 4NP
  • Expand
  • Photos
  • Map

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

Property Information

Location
Miles
18 miles west of Preston
28 miles west of Blackburn
56 miles north of Liverpool
Roads
A583, A584, A66, M55 (Junction 4),
M6 (Junction 32)
Rail
Blackpool North Rail
Air
Blackpool International Airport
Liverpool John Lennon Airport
Manchester International Airport
Situation

The property is situated in a prominent position on the southern side of Church Street, one of Blackpool's principal pedestrianised retailing thoroughfares. The Grand Theatre Blackpool and Houndshill Shopping Centre are within close proximity, with other nearby occupiers including Marks & Spencer, Pizza Express, Greggs, British Heart Foundation and Costa Coffee.

Tenure

Freehold.

Description

The property comprises a bank and retail unit which has a return frontage, together with a restaurant at first floor. Part of the property is vacant.

VAT

VAT is applicable to this lot.

Planning

The property may benefit from conversion to residential use, subject to the current occupation and the necessary consents/permissions. Interested parties are referred to Blackpool Council (www.blackpool.gov.uk).

EPC

See legal pack at acuitus.co.uk

Tenancy & Accommodation

FloorUseFloor Areas (Approx)TenantTermRent p.a.x. Review
Unit A
Ground
Basement

Bank
Ancillary

285 sq m
219 sq m

(3,067 sq ft)
(2,357 sq ft)
BANK OF SCOTLAND
PLC t/a Halifax (1)
10 years from 16/09/2017
expiring 15/09/2027
£60,00016/09/2022
Unit B
Ground
First

Entrance
Restaurant

8 sq m
605 sq m

(86 sq ft)
(6,512 sq ft)
107 (BLACKPOOL)
LIMITED t/a The
Chinese Buffet (2)
10 years from 04/04/2014
extended to 03/04/2029 (3)
£50,00003/04/2024
Unit C
Ground

Retail

315 sq m

(3,390 sq ft)
SAVERS HEALTH &
BEAUTY LIMITED (4)
10 years from 11/06/2019
on a lease expiring
10/06/2029 (5)
£45,00011/06/2022
Unit D
Second

Ancillary

332 sq m

(3,573 sq ft)

VACANT
   
Unit E
Basement
Third
 

317 sq m
240 sq m

(3,412 sq ft)
(2,583 sq ft)

VACANT
VACANT
   
Total 
2,321 sq m
(24,983 sq ft)
  £155,000 

(1) Bank of Scotland Plc is a wholly owned subsidiary of Lloyds Banking Group Plc, which operates from the high street fascias of Lloyds Bank, Halifax and Bank of Scotland. For the year ending 31st December 2018, Bank of Scotland reported no turnover, pre-tax profits of £2,231,000 and a total net worth of £11,175,000 (Source: Experian Group 27/09/2019).
(2) The Chinese Buffet is an expanding chain of restaurants across the North West and North East of England and elsewhere (Source: www.thechinesebuffet.com).
(3) Original lease expiring 2024 has been extended by way of a five year reversionary lease from 04/04/2024 expiring 03/04/2029.
(4) For the year ending 29th December 2018, Savers Health & Beauty Limited reported a turnover of £507,226,000, pre-tax profits of £103,814,000 and a total net worth of £3,938,000 (Source: Experian Group 27/09/2019).
(5) Tenant's option to determine 10/06/2024 upon 6 months' notice.

Property Documents

  • Solicitors Legal Pack
    Updated Date
    22.10.19
    File Size
    125 MB
    Login to View
  • Catalogue Page
    Updated Date
    02.10.19
    File Size
    2 MB
    View PDF
  • Site Plan
    Updated Date
    02.10.19
    File Size
    3 MB
    View PDF
  • Common Auction conditions
    Updated Date
    19.09.19
    File Size
    150 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF
  • Money Laundering Regs
    Updated Date
    19.09.19
    File Size
    36 KB
    View PDF

Contacts

Acuitus
Peter MayoPeter Mayo +44 (0)20 7034 4864 +44 (0)7833 459318Peter.mayo@acuitus.co.uk
Georgina RobertsGeorgina Roberts +44 (0)20 7034 4863 +44 (0)7899 877 224georgina.roberts@acuitus.co.uk
Seller's Solicitors
CMS Cameron McKenna Nabarro Olswang LLP 1 South Quay, Victoria Quays
Sheffield
S2 5SY
Carol Davies 0114 279 4003Carol.Davies@cms-cmno.com

Useful Links

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