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Stonewell, Lancaster - For Sale

Investment
Guide Price £285,000
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    CITY CENTRE INVESTMENT FOR SALE Offered for sale is this city centre investment opportunity consisting of two tenanted ground floor retail units and three flats, one being currently tenanted. Anticipated rent roll of £27,220 per annum.

    LOCATION
    The subject property is located in a prime, visible position facing directly on to Lancasters busy one way system. Nearby occupiers include Yellow Door Lets, various food users, residential accommodation and a multi-story car park sited opposite.

    DESCRIPTION
    The building is effectively a double terraced unit consisting of two ground floor shops with two flats situated above the Post Office and a further studio flat located to the rear of the property, off the back of the Post Office. The sale is to include the freehold for the building although the other flats situated above the mobile phone shop have been sold off long leasehold.

    ACCOMMODATION
    2 Stonewell - Ground Floor shop occupied by 'Fone World' - 453 sq ft NIA.
    3 Stonewell - Ground Floor Shop occupied by the Post Office - 439 sq ft NIA.
    Flat 5D, Moor Lane - Ground Floor Studio Flat/Bedsit.
    Flat 2, Stonewell - First Floor, 2 Bedroom Flat (refurbishment works required).
    Flat 4, Stonewell - Second Floor, 2 Bedroom Flat.

    SERVICES
    Mains electricity, water and drainage connected to all units. Flats 2 and 4 also benefit from gas.

    TENANCIES
    2 Stonewell - Let to 'Fone World' on a 5 year IRI lease commenced 2016
    3 Stonewell - Let to the Post Office on a 10 year IRI lease commenced March 2012.
    Flat 5D, Moor Lane - Let on an Assured Shorthold Tenancy.
    Flat 2, Stonewell - Vacant.
    Flat 4, Stonewell - Let on an Assured Shorthold Tenancy.

    Tenancy Schedule available upon request.

    TENURE
    The property is for sale freehold and subject to the tenancies detailed above. Leases are available upon request.

    RATING
    2 Stonewell - Rateable Value £4,600
    3 Stonewell - Rateable Value £4,850

    VAT
    All outgoings quoted are exclusive of VAT.

    VIEWING
    Strictly by appointment with the sole agents, Fisher Wrathall,Tel: 01524 69922 Email: commercial@fisherwrathall.co.uk Contact: James Leech AssocRICS.

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