Historic city centre location on pedestrianised retailing thoroughfare
Close to Marketgate and St Nicholas Arcades Shopping Centres
Let to Monsoon Accessorize Limited
Lease renewal from June 2019, expiring 2024 (1)
Lot 18
Auction 24th October 2019
Rent £64,000 per Annum Exclusive
Status Sold
Price £605,000
Sector High Street Retail
Auction Venue The Montcalm Hotel 2 Wallenberg Place London W1H 7TN
On the Instructions of a Major Pension Fund
Property Information
Location
Miles
24 miles south of Windermere and the Lake District National Park
25 miles north-east of Blackpool
53 miles north-west of Manchester
Roads
A683, M6
Rail
Lancaster Rail Station
Air
Leeds Bradford, Manchester International
Situation
The property is situated in the heart of Lancaster city centre on the western side of the pedestrianised Penny Street, one of the town's main retailing thoroughfares. The property is within close proximity to St Nicholas Arcades Shopping Centre and Marketgate Shopping Centre, with nearby occupiers including Wilko, O2, Vision Express, JD Sports, Greggs, McDonald's and Santander.
Tenure
Freehold.
Location
Miles
24 miles south of Windermere and the Lake District National Park
25 miles north-east of Blackpool
53 miles north-west of Manchester
Roads
A683, M6
Rail
Lancaster Rail Station
Air
Leeds Bradford, Manchester International
Situation
The property is situated in the heart of Lancaster city centre on the western side of the pedestrianised Penny Street, one of the town's main retailing thoroughfares. The property is within close proximity to St Nicholas Arcades Shopping Centre and Marketgate Shopping Centre, with nearby occupiers including Wilko, O2, Vision Express, JD Sports, Greggs, McDonald's and Santander.
Tenure
Freehold.
Description
The property comprises a ground floor shop with ancillary accommodation at first floor.
VAT
VAT is applicable to this lot.
EPC
See legal pack at acuitus.co.uk
Description
The property comprises a ground floor shop with ancillary accommodation at first floor.
VAT
VAT is applicable to this lot.
EPC
See legal pack at acuitus.co.uk
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Reversion
Ground First
Retail Ancillary
211 sq m 53 sq m
(2,271 sq ft) (570 sq ft)
MONSOON ACCESSORIZE LIMITED (2)
5 years from 1st June 2019 on a full repairing and insuring lease (1)
£64,000
2024 (1)
Total
264 sq m
(2,841 sq ft )
£64,000
(1) Subject to a tenant's option to determine in 2022, upon 9 months' written notice and a penalty payment of £19,200. This lease renewal is subsequent to two earlier leases, the original dated 19th May 2008. (2) Website: www.uk.monsoon.co.uk.
