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Agent's details

Unit 1&2, 16-20 Cheapside

For sale: £800,000.00|Other, Other Property Types & Opportunities

Property details

FOR SALE£800,000.00
ADDRESSUnit 1&2, 16-20 Cheapside, Lancaster, LA1 1LZ
TYPEOther, Other Property Types & Opportunities
TENUREInvestment Opportunity, For Sale Freehold
POSTED ON10th January 2024

Description

Of Interest to Investors. High Yielding, Prime, Retail Investment. Majority Let to Specsavers Producing Total £91,500 per annum.]

The property comprises a prime, high yielding, retail investment situated in the pedestrianised centre of Lancaster.

Comprising two units arranged across ground and first floors, the property is fully let to two separate tenants and producing a total income of £91,500 per annum.

The majority of the property is let to Specsavers Optical Superstores Limited on a new lease expiring 23/10/2028. The rent has been recently re-based from £110,000 per annum to £71,500 per annum.

The remainder of the property is let to Gadgets4UK Enterprises Limited (t/a Phone Direct) on a lease expiring 30/10/2032 and paying £20,000 per annum.

Cheapside forms one of the principal, pedestrianised, retail streets within Lancaster, with nearby occupiers including Costa, McDonalds, Betfred and TK Maxx.

Location

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Location: Unit 1&2, 16-20 Cheapside, Lancaster, LA1 1LZ

Lancaster (0.3 miles)

Bare Lane (2.3 miles)

Morecambe (3.4 miles)

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