Investment - Mixed Use

MIXED USE INVESTMENT OPPORTUNITY, 21-23 & 25 WOOD STREET &, 23 25 27 & R/O 25 ORCHARD ROAD, ST. ANNES ON SEA, LANCASHIRE

For Sale £2,250,000 offers in excess of

  • COMPRISING OF RESIDENTIAL APARTMENTS, OFFICE WITH CAFE, RESTAURANT, LEISURE/NIGHTCLUB PREMISES AND CAR PARK
  • LOCATED IN ST. ANNES TOWN CENTRE
  • MAY ALSO SUIT OWNER/OCCUPIER OR DEVELOPER
  • RENTAL INCOME POTENTIAL £240,000 PA EXC
  • POTENTIAL TO INCREASE REVENUE THROUGH LETTING OF 21-23 WOOD STREET AND ASSET MANAGEMENT OF EXISTING STOCK
  • POSSIBILITY TO SPLIT ASSETS

Description

- Prime location in the towns 'restaurant quarter' - Significant levels of local development and major infrastructure Projects due for completion in 2024 - 7 large apartments made up of 6 x 2 beds and 1 x 1 bed (buildings totalling c.6,198 sq ft) with long standing tenancies (ASTs) on relatively low rents - Tiggis Restaurant - trading from the location for over 40 years (200 covers) - Senior Moments Care LLP, head office and care hub. Lease renewal through to August 2028 (3,118 sq ft) with parking - 21-23 Wood Street available to let, with imposing frontage and valuable/underutilised terrace fronting Wood Street - New air-handling units fitted to roof of 21-23 Wood Street in October 2021 - Valuable town centre car park - Existing rental income totalling c.£145,000 p.a. - Potential to increase revenue through letting of 21-23 Wood Street and asset management of existing stock - Total Market Rent in the region of £240,000 p.a. - Possibility to split assets - Suitable for investors, developers or owner occupiers with the majority of the site producing well established income - Full TENANCY SCHEDULE, FLOOR PLANS & EPC's available on request - We are seeking offers over £2,250,000 (Two Million Two Hundred and Fifty Thousand Pounds) exclusive of VAT and Subject to contract - Long leasehold interest with c.850+ years unexpired term at nominal ground rent
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