INVESTMENT AND DEVELOPMENT OPPORTUNITY, 8-14 QUEEN STREET , BLACKPOOL, LANCASHIRE, FY1
Pub/Club Office Leisure Holiday Flats Investment - Mixed Use Investment - Devlp. Potential
For Sale: offers in excess of £1,000,000
Key Features
MIXED-USE INVESTMENT / DEVELOPMENT OPPORTUNITY
BAR / RESTAURANT PREMISES - UNDER OFFER
OFFICES - INCOME PRODUCING
UPPER FLOORS WITH PLANNING PERMISSION TO BE CONVERTED INTO 18 NO. SERVICED APARTMENTS
LOCATED IN BLACKPOOL TOWN CENTRE
OPPOSITE WALKABOUT, CLOSE TO BLACKPOOL PROMENADE & BLACKPOOL NORTH TRAIN STATION
GROUND FLOOR BAR / RESTAURANT PREMISES & OFFICE ALSO AVAILABLE TO PURCHASE INDIVIDUALLY - SUBJECT TO NEGOTIATIONS
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Property description
Entire Freehold Investment & Development Opportunity
An opportunity to acquire the entire freehold interest in a substantial mixed-use property in Blackpool town centre, comprising two ground-floor commercial units and extensive upper-floor accommodation with planning permission for 18 serviced apartments. The property provides an existing commercial income stream alongside significant development potential.
The ground-floor accommodation comprises:
Unit 1 - The Growth Company
Currently let to The Growth Company on a 5 year lease at a passing rent of £25,000 per annum. Lease expires 26/9/2029.
Unit 2 - Former Slug & Lettuce
Terms agreed for a new 15-year lease, subject to contract, at a headline rent of £45,000 per annum, incorporating the following stepped rental structure:
Year 1: £35,000 per annum
Year 2: £38,000 per annum
Year 3: £40,000 per annum
Year 4: £40,000 per annum
Year 5 onwards: £45,000 per annum, subject to lease terms and future rent reviews.
Upon completion of the proposed letting, the property would provide an initial combined rental income of £60,000 per annum, increasing to £70,000 per annum from year five, before any future rent reviews.
Part 3 - Upper floors with the benefit of planning permission for 18 serviced apartments
The upper floors benefit from planning permission for 18 serviced apartments, together with ancillary accommodation at lower-ground-floor level.
