Lot 5 - 4-6 Preston Street and Church View, Kirkham, Preston, Lancashire, PR4 2ZA
- Unconditional Online Auction Sale
- Guide Price* : £135,000
- Mixed Use Property Investment
- Let at a combined annual equivalent income of £20,700
- Good Location
- Market Town
Mixed use property investment comprising a ground floor retail unit and four flats to the upper floors currently Let producing a combined annual equivalent income of £20,700.
Description
*VIDEO TOUR AND VIEWINGS AVAILABLE UPON REQUEST* The property comprises a three storey corner property arranged as retail premises to the ground floor and 4 x one bedroom flats to the upper floors. Access to the flats is via Freckleton Street.
The property is currently fully let producing an annual equivalent income of £20,700.
Location
The property is prominently located fronting Preston Street within the main retail area of Kirkham with nearby retailers including national multiples together with a range of local independent stores. Kirkham is a market town that lies approximately midway between Preston and Blackpool, 1.5 miles south of Junction 3 of the M55 motorway.
Tenure
The property is held Freehold.
Accommodation
Ground Floor: Retail Unit 26.10 sq m (281 sq ft)
First Floor: Flats One and Two (assumed to comprise Kitchen, Living Room, Bedroom and Bathroom/W.C)
Second Floor: Flats Three and Four (assumed to comprise Kitchen, Living Room, Bedroom and Bathroom/W.C)
Outside
Rear yard.
Tenancies
Retail Unit - The property is Let as a Barbers shop for a term of 5 years from the 21st November 2023 on a £5,940pa.
Flat One - The property is Let on an Assured Shorthold Tenancy agreement for a term of 6 months from 19th December 2021 at a current rent of £350pm.
Flat Two - The property is Let on an Assured Shorthold Tenancy agreement for a term of 6 months from the 5th October 2015 at a current rent of £300pm.
Flat Three - The property is Let on an Assured Shorthold Tenancy agreement for a term of 6 months from the 3rd April 2007 at a current rent of £300pm.
Flat Four - The property is Let on an Assured Shorthold Tenancy agreement for a term of 5 months and 30 days from the 30th November 2021 at a current rent of £280pm.
EPC
Energy Performance Asset Rating. No 4-6 Preston Street - D. Flats 1 and 3 - D. Flat 2 - C and Flat 4 - E.
Buyers Administration Fee
There will be a Buyer's Administration Fee of £2,400 (inc VAT) payable upon exchange of contracts.Additional Information
1. Completion will take place 5 weeks from the date of exchange.
2. The information contained within the Particulars are given in good faith, but all descriptions, statements, dimensions ( these may have come from a third party source e.g. the seller, valuation reports or historic sales particulars), references to condition and permissions for the use and occupation or other details are made without responsibility and should not be relied upon as representation of fact.
3. If a video walk through, or any other form of virtual tour, is provided whilst every effort is made to accurately give an overview of the property we cannot give any warranty concerning the nature, and condition of the property and the suitability thereof for any and all activities and use. The video, or tour, is provided to assist only and without responsibility and should not be relied upon as representation of fact, or replace all appropriate due diligence a prudent purchaser would make.
* Generally speaking Guide Prices are provided as an indication of each seller's minimum expectation, i.e. 'The Reserve'. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Virtually every property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.
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