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FOR SALE (MAY LET) - Attractive Retail Premises - 3-5 Damside, Lancaster, LA1 1PD

For sale: £250,000.00|To rent: £20,000.00 Per Annum|86 Sq M|Retail, Office, Offices

Property details

FOR SALE£250,000.00
TO RENT£20,000.00 Per Annum
SIZE86 Sq M
ADDRESSFOR SALE (MAY LET) - Attractive Retail Premises - 3-5 Damside, Lancaster, LA1 1PD
TYPERetail, Office, Offices
TENURETo Let, For Sale Freehold, For Sale Leasehold
POSTED ON2nd August 2021

Description

Location
The premises are situated in a prominent position fronting Damside Street, at its junction with Calkeld Lane, on the edge of Lancaster’s retail core and opposite the city’s main bus station. Damside Street links North Road with Cable Street on the northern edge of the city centre. The immediate vicinity comprises a mix of retail uses and service providers along with more recently constructed student accommodation. Nearby occupiers include YMCA, The Samaritans, Studio Arts and Greens Public House.

Description
The premises comprise a two-storey detached property of traditional stone construction beneath a pitched slate roof with further accommodation within the eaves. The ground floor benefits from a timber framed double glazed shop front with timber framed windows to the upper floors. The ground floor of the property provides a lock-up retail shop providing open plan sales accommodation with a staff kitchen and WC facility to the side and, at present, a small office area to the rear separated by timber stud partition. The premises would lend themselves to a variety of uses, subject to any necessary statutory consents. The upper floors accommodate two self-contained residential flats which have a designated access to the side of the property.

Accommodation
The ground floor accommodation extends to an approximate net internal area of 86.01 m² (925.8 ft²).

Services
We understand that retail premises have mains connections to electricity, water and drainage.

Rating Assessment
The ground floor retail premises have a Rateable Value of £15,500. Interested parties should make their own enquiries of Lancaster City Council (www.lancaster.gov.uk)

Planning
We believe that the premises will benefit from an established use classification on the ground floor within Class E (Commercial, Business and Service) of the Town and Country Planning (Use Classes) (Amendment) (England) regulations 2020. Interested parties are, however, recommended to make their own enquiries with Lancaster City Council (www.lancaster.gov.uk).

Tenure
Freehold.

The two residential flats on the upper floors of the building are in third party ownership and are each held by way of a 999 year lease with effect from 28 January 2005 (less 10 days) at a peppercorn rental. Each long leaseholder contributes 33.33% towards the costs of the repair and maintenance of the exterior and structure of the building and common parts. Alternatively, the ground floor retail premises are available by way of a new effective full repairing and insuring lease for a term of years to be agreed. The premises will be available with effect from 1 October 2021.

Asking Price
Offers in the region of £250,000 are sought for the property as a whole.

Alternatively our client will consider a letting of the ground floor retail unit at a rental of £20,000 per annum exclusive.

Location

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Location: FOR SALE (MAY LET) - Attractive Retail Premises - 3-5 Damside, Lancaster, LA1 1PD

Lancaster (0.3 miles)

Bare Lane (2.3 miles)

Morecambe (3.4 miles)

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