£350,000 (Freehold)View More Details
DESCRIPTION: Substantial detached property in a local parade of shops in Lytham St Annes. Ground floor retail premises and customer parking let by way of a 10 year lease from November 2016 to Co-op Convenience Store at a rent of £20,000 per annum. The upper parts of the building provide two self contained 3 bedroom flats let on shorthold tenancy agreement with a potential combined rent of £13,500 per annum. Excellent investment opportunity with strong commercial covenant providing a 9.7% yield.
LOCATION: Main road position on Headroomgate Lane and corner of Ashley Road in a local parade of shops with forecourt customer parking.
Ground Floor: Shop premises 234 sqm (VOA website measurements).
Flat 101a: 1st Floor: Lounge & dining room; 2nd Lounge; Kitchen;
2nd Floor: 3 Bedrooms including one ensuite; Bathroom.
Flat 99a: 1st Floor: Lounge; Kitchen diner; Bathroom;
2nd Floor: 3 bedrooms; 2 stores.
Exterior: Forecourt customer parking.
Shop: Co-operative Group Food Limited. 10 year lease 21st November 2016. 5 year rent review. Rent £20,000 per annum paid quarterly in advance.
Flat 101a: Vacant at present, potential rent £575 per calendar month.
Flat 99a: Shorthold tenancy agreement, rent £550 per calendar month.
SERVICES: All mains services connected. Gas central heating to flat 101a. Electric heating to flat 99a.
TENURE: Ground Leasehold. Remainder of a 999 year ground lease. Ground rent £28 per annum.
RATES: Tenants pay own rates and council tax bills. EPC RATING: C
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99/101 Headroomgate Road, St Annes, FY8 3BG
Tenure Type: Ground Leasehold
Private Living: Yes