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Under OfferFor sale: POA

For Sale - Attractive Investment Opportunity - 68 Glovers Court Preston

Offices, Office , 2897 Sq Ft
Property type: Offices, Office
Tenure: Investment Opportunity, Under Offer
Size: 2897 Sq Ft
Price: POA
Location: 68 Glovers Court, PR1 3LS
Location
The premises are situated in a highly prominent position fronting Glovers Court at its junction with Cross Street and Syke Street, close to Winckley Square, the main professional district within the City.
Both Preston Railway and Bus Stations are in close proximity to the property as is the main shopping thoroughfare of Fishergate. In addition, Avenham Safe & Secure Public Car Park is situated directly opposite the premises.
Description
The premises comprise an end of terrace two storey building together with basement of traditional brickwork construction beneath pitched slate covered roofs.
Internally, the property provides extensive office accommodation over ground and first floors together with ancillary basement storage. The premises benefit from part suspended acoustic ceilings with a combination of fluorescent lighting panels, inset spot and surface mounted Category II fluorescent lighting and gas central heating. The accommodation is fitted in keeping with its existing use as professional offices.
Externally, the building benefits from the ability to park up to 3 cars within the curtilige of the ownership.
Accommodation
The premises extend to the following approximate
net internal areas (NIA):-
m² ft²
Ground floor 124.26 1,338
First floor 95.48 1,028
Basement 49.29 531
Total 269.05 2,897
Services
It is understood that mains connections to gas, electricity, water and drainage are available to the property.

Rating Assessment
The premises have a Rateable Value of £14,500. Interested parties should, however, make their own enquiries of the local rating authority, Preston City Council (tel. 01772 906972).

Planning
It is understood that the premises have an established use under Class B1 (a) (Business) of the Use Classes Order 1987 (as amended).
Interested parties should make their own enquiries of the local planning authority, Preston City Council (tel. 01772 906912).

Tenure
The freehold interest in the property is available subject to the current occupational leasehold interest.

Tenancy Information
The premises are presently let to O’Donnells Solicitors Limited by way of a lease commencing on 1 January 2017 for a term of 5 years and 1 month.
The rental passing is £20,000 per annum exclusive with the premises being used as solicitors offices.
O’Donnells Solicitors Limited attract a financial risk score of 78 according to Experian, presenting a ‘below average’ risk rating.

Proposal
Offers are sought in the region of £200,000 reflecting a net initial yield of 9.8% when allowing for purchasers costs of 2% and equating to an attractive capital value of £69.04 per ft².
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