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For Sale - Mixed Use Investment - 88 Ripon Street, Preston

For sale: £105,000.00|828 Sq Ft|Residential, Flat, General Retail, Retail


FOR SALE£105,000.00
SIZE828 Sq Ft
ADDRESS88 Ripon Street, PR1 7UJ
TYPEResidential, Flat, General Retail, Retail
TENUREInvestment Opportunity, For Sale Freehold
POSTED ON28th February 2019


The property is situated fronting Ripon Street close to its’ junction with Plungington Road, just over 1 mile to the north of Preston City Centre.
Nearby occupiers include Whalley & Sons Funeral Directors, Pride Hair Design as well as a range of both national and independent traders and service providers located fronting Plungington Road.
The locality is predominantly residential in nature with the University of Central Lancashire campus in close proximity.

The property comprises a two-storey, mid terraced building of conventional brickwork construction, being rendered in part, beneath a pitched roof covering. The premises have the benefit of uPVC double glazed windows and shop front.
The ground floor is presently occupied and trading as Jit’s Plaice and, internally, provides a good sized sales area to the front leading through to rear preparation and storage facilities to the rear.
The residential flat consists of a ground floor kitchen, stairs/landing area, lounge, two bedrooms and bathroom with self-contained access leading from the enclosed yard to the rear of the building.

The premises extend to the following approximate internal areas:-
m² ft²
Ground Floor (NIA) 33.49 360.5
First Floor (GIA) 43.45 467.7

We understand that the ground floor property is connected to mains electricity, gas, water and drainage facilities with the first floor having electricity, water and drainage supplies.

Rating Assessment
The ground floor premises have a Rateable Value of £2,850. The first floor flat benefits from a council tax assessment within band “A”.
Interested parties are advised to make their own enquiries with Preston City Council (tel. 01772 906972).

We believe that the premises benefit from an established use classification on the ground floor within Class A5 (Hot food takeaway) of the Use Classes Order 1987 (as amended).
Interested parties should make their own enquiries with the local planning authority, Preston City Council (tel. 01772 906912).

Freehold, subject to the existing occupational interests.

Tenancy Information
The ground floor premises are let by way of a 10 year lease from the 26 April 2013 to Mr J K Panchal and Mrs S Panchal at an annual rental of £5,200 exclusive. The lease provides for rent reviews every 3 years.
The lease is granted on internal repairing and insuring terms with the tenant’s liability extending to doors, windows and shop front. The first floor flat is let by way of an Assured Shorthold Tenancy Agreement at a monthly rental of £350.

Asking Price
Our client is seeking offers in the region of £105,000.


Location: 88 Ripon Street, PR1 7UJ

Preston (1.0 miles)

Lostock Hall (3.2 miles)

Bamber Bridge (3.7 miles)


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