Abingdon Street Indoor Market and 6/8, 10/12, 14 and 22/24 Abingdon Street
Blackpool
Lancashire
FY1 1DA

Substantial Town Centre Indoor Market and Mixed Use High Yielding Investment Opportunity

  • Includes substantial indoor market with 53 stalls and separate storage units
  • Separate shops let to tenants including Sense and Card Factory, with separately let offices and one shop under offer (4)
  • Approximately 28,000 sq ft GIA
  • Potential Change of Use and Redevelopment opportunities including residential and leisure, subject to planning and consents
  • Asset management opportunities
  • Close to Blackpool Winter Gardens and adjacent to former Post Office with plans approved for a new 102 bed hotel, with shops, bars and restaurants
  • High Yielding and low capital value per sq ft on Guide Price
  • Lot
    14
  • Auction
    26/Mar/2020
  • Rent
    £323,147 per Annum Exclusive
  • Status
    Available
  • Price*
    Contact Us
  • Sector
    High Street Retail
  • Auction Venue
    The Montcalm Hotel
    2 Wallenberg Place
    Marble Arch
    London W1H 7TN
  • Abingdon Street Indoor Market and 6/8, 10/12, 14 and 22/24 Abingdon Street<br>Blackpool<br>Lancashire<br>FY1 1DA
  • Expand
  • Photos
  • Map

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

Property Information

Location
Miles
16 miles west of Preston
44 miles north of Liverpool
Roads
A583, M55
Rail
Blackpool North Train Station
Air
Blackpool Airport
Situation

Blackpool is a popular tourist seaside resort, 16 miles west of Preston and 44 miles north of Liverpool. The property is situated in a prominent location in the heart of Blackpool town centre, on the pedestrianised Abingdon Street. The property is close to Church Street, Blackpool's prime retail pitch with retailers including Marks & Spencer,
Pizza Express and Costa Coffee represented. The property also benefits from close proximity to Winter Gardens, one of the North West's premier conference, exhibition and events centres, and Blackpool North Train Station which provides excellent access to the West Coast Main Line and the wider North West region.

Tenure

Freehold. XX

Description

The property comprises a substantial indoor market (53 stalls plus 12 storage units), together with three shops and self-contained offices, fronting Abingdon Street.

VAT

VAT is applicable to this lot.

EPC

Available from the legal pack at acuitus.co.uk.

Tenancy & Accommodation

AddressFloorUseFloor Areas (Approx)TenantTermRent p.a.Reviews
53 Indoor
Market Stalls
& 12 Storage
Units
Ground
Market
1,852.84 sq m
(19,944 sq ft)
VARIOUS (1)Various (1)£274,447 
6/8 Abingdon
Street
Ground/
First
Retail/
Ancillary
179.50 sq m
(1,932 sq ft)
SENSE, THE
NATIONAL
DEAF, BLIND
AND RUBELLA
ASSOCIATION
10 years
from
08/09/2016
until
07/09/2026
(2)
£25,00008/09/2021
10/12
Abingdon
Street
Ground/
First
Retail/
Ancillary
179.80 sq m
(1,935 sq ft)
SPORTSWIFT
LIMITED
t/a Card Factory
(3)
3 years from
29/09/2019
£20,000 
14 Abingdon
Street
First
Second
Offices
92.40 sq m
99.20 sq m
(995 sq ft)
(1,068 sq ft)
ABINGDON
STUDIOS
3 years from
08/01/2020
with mutual
break options
on
08/01/2021
and
08/01/2022
£3,700 
22/24
Abingdon
Street
GroundRetail
197.54 sq m
(2,126 sq ft)
Under Offer (4)   
Total Commercial Area
2,601.26 sq m
(28,000 sq ft)
  £323,147 

(1) The indoor market comprises 53 stalls, each let on various leases on various terms and various rents. The market stall rents are inclusive of service charge, but not business rates or electricity. At present, only six market stalls are not let. In addition, there are 12 storage units, let on various terms at various rents. Please see the legal pack for a detailed tenancy schedule and tenancy documentation.
(2) The lease is subject to a tenant option to determine on 08/09/2021.
(3) For the year ending 31st January 2019, Sportswift Limited reported a turnover of £417,167,000, pre-tax profits of £66,206,000 and a total net worth of £24,056,000 (source: Experian Group 21/02/2020).
(4) Heads of Terms have just been agreed to let 22/24 Abingdon Street to Franks Restaurant Ltd (t/a Court House) on a new 3 year lease at a commencing rent of £18,000 pa, rising to £23,000 pa by year 3, subject to a tenant option to determine in year 2 - please see legal pack for Heads of Terms.

If you are the successful bidder Acuitus requires a separate payment of £500 plus VAT (£600 inclusive of VAT) buyer's administration charge payable to Acuitus Limited

Property Documents

  • Solicitors Legal Pack
    Updated Date
    20.03.20
    File Size
    87 MB
    Login to View
  • Catalogue Page
    Updated Date
    04.03.20
    File Size
    1 MB
    View PDF
  • Site Plan
    Updated Date
    04.03.20
    File Size
    696 KB
    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
David MargolisDavid Margolis +44 (0)20 7034 4862 +44 (0)7930 484 440david.margolis@acuitus.co.uk
George GoucherGeorge Goucher +44 (0)20 7034 4860george.goucher@acuitus.co.uk
Associate Auctioneers
Robert Pinkus & Co 1 Winckley Court, Chapel Street
Preston
PR1 8BU
Danny Pinkus 01772 766 683danny@pinkus.co.uk
Seller's Solicitors
Blacks Solicitors LLP City Point, 29 King Street
Leeds
LS1 2HL
Ben Finley 0113 322 2805bfinley@lawblacks.com

Useful Links

By clicking the Submit button I confirm that I would like to register my interest in this Property. Please email me updates when they are published.

If you have a query, please fill in the box below, otherwise click the Submit button.

You have 200 character(s) left.

Are you sure you want to remove this property from My Catalogue?

Are you sure you are no longer interested in this property?

Are you sure you want to delete your Account?

Making the buying and selling of property a seamless experience
Everything you need to know whether you are a buyer or sellerHelp Centre
How can Acuitus Finance help you with bridging finance
How can Acuitus Finance help you with bridging financeObtain bridging finance now