11 Victoria Road Lytham St Annes Lancashire FY8 1LE

11 Victoria Road
Lytham St Annes
Lancashire
FY8 1LE

Freehold Care Home Investment

Let to Inclusion Housing Community Interest Company until 2040 (no breaks) with a landlord option to extend by 4 years
Annual rental increases in line with Consumer Price Index from April 2021
Held in a Single Purpose Vehicle (SPV) available under separate negotiation
Located in an affluent and attractive town

Lot
40
Auction
24th October 2019
Rent
£43,264 per Annum Exclusive
Status
Sold
Price
£730,000
Auction Venue
The Montcalm Hotel
2 Wallenberg Place
London W1H 7TN

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Freehold Care Home Investment

Let to Inclusion Housing Community Interest Company until 2040 (no breaks) with a landlord option to extend by 4 years
Annual rental increases in line with Consumer Price Index from April 2021
Held in a Single Purpose Vehicle (SPV) available under separate negotiation
Located in an affluent and attractive town

Lot 40
Auction 24th October 2019
Rent £43,264 per Annum Exclusive
Status Sold
Price £730,000
Sector
Medical Centre/Doctors, Healthcare
Auction Venue
The Montcalm Hotel
2 Wallenberg Place
London W1H 7TN

Property Information

Location

Miles: 50 miles north-west of Manchester; 14 miles west of Preston
Roads: A583, A584, M55 (Junction 4)
Rail: St Annes-on-Sea Railway Station
Air: Liverpool John Lennon Airport, Manchester Airport

Situation

St Annes is a popular and affluent Lancashire resort town famous for the Royal Lytham & St Annes Golf Club, a regular on the Open Championship rotation. The property is situated in a predominantly residential area some
0.5 miles from St Annes-on-the-Sea train station with a number of local amenities located nearby.

Tenure

Virtual Freehold. Held for a term of 999 years from 21/04/1898 as a fixed rent of £3.44 per annum exclusive

Location

Miles: 50 miles north-west of Manchester; 14 miles west of Preston
Roads: A583, A584, M55 (Junction 4)
Rail: St Annes-on-Sea Railway Station
Air: Liverpool John Lennon Airport, Manchester Airport

Situation

Tenure

Virtual Freehold. Held for a term of 999 years from 21/04/1898 as a fixed rent of £3.44 per annum exclusive

Description

The property is a substantial specialist supported living care home comprising 3 x one bedroom self-contained flats and
1 x two bedroom self-contained flat. The property benefits from a former garage building to the rear that has been converted into an administrative office.

VAT

VAT is not applicable to this lot.

EPC

Available from the legal pack at acuitus.co.uk

Description

VAT

VAT is not applicable to this lot.

EPC

Available from the legal pack at acuitus.co.uk

Tenancy & Accommodation

Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Reviews/ (Reversion)
Ground First Second Basement Garage	2 x 1 bed flat 1 x 2 bed flat 1 x 1 bed flat Cellar Admin Office	75.06 sq m 55.80 sq m 40.54 sq m 26.16 sq m 39.96 sq m	(808 sq ft) (600 sq ft) (436 sq ft) (281 sq ft) (430 sq ft)	INCLUSION HOUSING COMMUNITY INTEREST COMPANY (1)	21 years from 2019 on a full repairing and insuring lease (2)	£43,264	Annually from April 2021. Linked to CPI (3) (2040)
Total		235.52 sq m	(2,524 sq ft)			£43,264

(1) Inclusion Housing Community Interest Company (CRN 061 69583) was incorporated in March 2007 and for the year ending 31st March 2018 reported a turnover of £21,609,310, pre-tax profits of £1,583,007 and a total net worth of £2,758,186 (Source: Experian Group 24/09/2019).
(2) The lease provides for a landlord only option to extend for 4 years.
(3) The lease provides for annual Consumer Price Index (CPI) linked rent reviews with the first on the first Monday in April 2021.