Lot 8 - 18-20 Preston Old Road, Freckleton, Preston, Lancashire, PR4 1PD
- Unconditional Online Auction Sale
- Guide Price* : £130,000
- Mixed Use Property Investment
- Mixed Use Property Investment Let at a combined annual equivalent income of £17,839.92
- Convenient Location
Mixed use property investment comprising a ground floor retail unit and 2 x one bedroom flats. The property is fully let producing a combined annual equivalent income of £17,839.92 per annum.
Description
*VIDEO TOUR AND VIEWINGS AVAILABLE UPON REQUEST* The property comprises a two storey mid terrace which is arranged as a ground floor retail unit currently T/A Flapjacks Bakery and Coffee Shop, together with 2 x one bedroom flats to the first floor. The flats are accessed at the rear of the property and it is understood a Right of Way is in place over No 22 to allow access. The property is fully let producing a combined annual equivalent income of £17,839.92 per annum.
Location
The property is located fronting Preston Old Road and situated in a convenient position close to local shops and amenities. The property has convenient access to Preston New Road (A584) which leads to Blackpool Road (A583). Freckleton lies in a good position to access Lytham, Blackpool, Kirkham and Preston.
Tenure
The property is held Freehold.
Accommodation
Ground Floor: Bakery/Coffee Shop 56.86 sq m (612 sq ft)
No 18a - One Bedroom Flat
No 20a - One Bedroom Flat
Outside
Rear yard.
Tenancies
18-20 (Ground Floor): The property is Let on a 10 year lease from the 3rd July 2020 at a current rent of £666.66pm.
18a (Flat): The property is Let on an Assured Shorthold Tenancy agreement for a term of 6 months from the 20th February 2019 at a current rent of £395pm.
20a (Flat): The property is Let on an Assured Shorthold Tenancy agreement for a term of 6 months from the 31st March 2023 at a current rent of £425pm.
EPC
Energy Performance Asset Rating. Retail Unit - C. Both Flats - 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. 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.
2. 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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