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For Sale£1,225,000.00

For Sale - Prominent Fully Let Investment Opportunity - Units 1 - 3. 535 - 537 Blackpool Road Preston

Retail, General Retail, Retail - Out of Town , 8643 Sq Ft
Property type: Retail, General Retail, Retail - Out of Town
Tenure: Investment Opportunity, For Sale Freehold
Size: 8643 Sq Ft
Price: £1,225,000.00
Location: 535 - 537 Blackpool Road, Preston, PR2 1EQ
Location
The development is situated in a very prominent corner location at the traffic lighted cross road junction of Blackpool Road (A5085), Pedders Lane, Cottam Lane and Abingdon Drive within the popular Preston suburb of Ashton.
Blackpool Road forms part of Preston’s main northern distribution road linking via the A59 to junction 31 of the M6 motorway to the east and via the A583 to the Fylde Coast in the west.
The development lies on the edge of a densely populated local centre approximately 2 miles north west of Preston City Centre.

Description
A predominantly single storey development providing 3 self contained retail units together with car parking.
The development was completed in December 2013 following a comprehensive redevelopment of the former car showroom being of steel frame construction with Kingspan Composite micro ribbed cladding to all elevations beneath Kingspan Composite rooftile sheet. We understand that all materials carry a full manufacturers warranty with 25 years for structural and thermal and 40 years for the external coating system.

Accommodation
The development provides a total area extending to approximately 803 m² (8,643 ft²) together with 23 car parking spaces.
Please refer to the attached schedule.

Services
Mains electricity, water and drainage are connected to the premises.

Rating Assessments
Please refer to the attached schedule.

Planning
The development benefits from planning consent for uses generally falling within Class A1 of the Town & Country (Use Classes) Order 1987 (as amended).
Interested parties are recommended to make their own enquiries of the local planning authority Preston city council (tel. 01772 906972).

Tenure
Freehold, subject to the various occupational leases.

Tenancy Information
Please refer to the attached schedule.

Further information
The following supporting information is available upon request:
1. Copy leases
2. Title information
3. Planning information
4. EPC
5. Experian reports (interested parties to
undertake their own investigations)
6. Plans

Proposal
We are instructed to seek offers in excess of £1,225,000. A purchase at this level would reflect a net initial yield of 7.23%, after allowing for purchaser costs of 5.91%.
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