investment in FY7

Lord Street, Fleetwood, Lancashire, FY7 6DU

Current Bid
£151,500
Starting Bid £135,000
22 Bids
Sold

Online auction

Alternatively call 0191 580 1587 or email commercial@pattinson.co.uk

  • Three storey corner property
  • Mixed use investment opportunity
  • 3x retail units and 1x 4 bed apartment
  • Currently partially let for £14,932pa
  • Great town centre location
  • Prominent position

investment in FY7

FOR SALE BY ONLINE AUCTION: terms and conditions apply.

We are pleased to offer to auction this mixed use portfolio, well located in a prominent position along Lord Street in the heart of Fleetwood’s town centre. This substantial corner property comprises 3 retail units and a 4 bedroom residential apartment. 38 Lord Street and 40-42 Lord Street are currently let for a combined annual income of £14,932. 44 Lord Street and 38 Warren Street are currently vacant and require some works.

Please note that we have not inspected this property.

Summary

  • Property Type: Investment
  • Parking: None

Location

The subject property is located along Lord Street, Blackpool. The property is well located close to Blackpool's North Pier with easy access to local amenities and transport links. The closest bus stop is a minutes walk from the property as well as 2 tram stops being a short walk away from the property. The subject property is 87 miles west of Leeds and 56 miles north of Liverpool.

Accommodation

38 Lord Street (maternity shop):
GROUND FLOOR
Main shop with suspended ceiling.
Kitchen area to the rear with fitted wall and base units.
Stairs leading to:

FIRST FLOOR (formerly a separate flat)
Office.
Storage area.
Bathroom comprising three piece suite.

EXTERNAL
Yard to the rear.

40-42 Lord Street (beauty salon)
GROUND FLOOR
Double fronted main salon with tiled flooring and suspended ceiling.
Kitchenette.
Toilet.

FIRST FLOOR
Treatment room.

44 Lord Street/38 Warren Street
GROUND FLOOR
Main shop with suspended ceiling and seating area in window.
Room.
Room.
W.C.

4 Bed Apartment:
FIRST FLOOR
Lounge.
Fitted kitchen.
Bathroom comprising three piece suite.
Utility area.
2x bedrooms.

SECOND FLOOR
2x bedrooms.

EXTERNAL
Small yard area.

There are also cellars below the properties offering additional storage space. The beauty salon (40-42) historically was two separate units, offering potential for future development.

Lease Details

38 Lord Street is currently let to a maternity shop on a licence agreement for a rent of £5,500pa.
40-42 Lord Street is currently let to a beauty salon on a licence agreement for a rent of £9,432pa.
44 Lord Street and 38 Warren Street are both vacant.

Tenure

The property is currently unregistered.

Rateable Value

The rateable values of the units, as of 1st April 2017, are as follows:
38 Lord Street: £4,000
40 - 44 Lord Street: £8,800
Sourced from VOA.

EPC

Addresses 38 and 34 available upon request (ratings D and F). We currently await copies of the other Energy Performance Certificates.

Additional Information

For further information please contact our office direct on 0191 737 1154, or alternatively via e-mail on commercial@pattinson.co.uk. With regards to viewing the subject property, this is to be done strictly by appointment through Keith Pattinson Commercial department. Please contact us to arrange an internal inspection, or to register your interest.

This property is being sold subject to unconditional reservation fee auction terms and conditions.

 

Timescales

Contracts will exchange immediately. There are 28 days in which to complete the purchase.

 

Legal Pack

A legal pack is available to download. Special conditions may apply.

We strongly recommend buyers familiarise themselves with the legal pack prior to bidding.

 

Deposit

In order to secure the purchase a buyer will pay a deposit of 5% which contributes towards the overall purchase price of the property.

The deposit is non-refundable. 

 

Buyer Fees

This property is sold subject to a non-refundable reservation fee of 5% + VAT to a minimum of £5,000 + VAT (£6,000 inc VAT) This does not form part of the purchase price.

A reservation fee is payable by the buyer where a seller has opted to sell with no fees. As a result, a lower reserve price is usually agreed on lots where a reservation fee is applicable.

 

More Information

For more information call our auction experts on 0191 206 9335 or email auction@pattinson.co.uk

ONLINE AUCTION NOTICE

I hereby acknowledge and confirm the following:  

My bid may be accepted by the seller at any time before the close of the auction.  It is subject to the terms and conditions of the auction which I have read and understood. I have read and understood the legal pack applicable to my bid/lot and agree to be bound by any special conditions within that pack. If my bid is successful (whether as the highest bid or upon acceptance by the seller in the course of the auction) I shall be bound by the lot terms and conditions as advertised online.  

At the point of registration, you will be required to insert credit or debit card details as a way of payment towards the deposit and or reservation fee. We will only hold a nominal amount (which will be stated at the point of bidding) to enable you to bid. This amount will only be debited from your account should you be the successful bidder, in the event you are unsuccessful the agreed amount will be released back to your card within three business days.  If you are the successful bidder we will debit the agreed amount from your account immediately at the close of the auction, we will then contact you to confirm the outstanding balance (if applicable) at which point you can opt to use the same card.  Any amount payable at the close of the auction must be paid within 1 hour.   

Please note that the bidding process will work in a different way to an eBay auction, so there is NO advantage to bidding at the last second. 

Each auction will automatically stay open until there has not been a bid for 10 minutes. After 10 minutes without a bid, the auction will close and the highest bidder will be successful subject to the reserve price being met or upon acceptance of an offer by the seller throughout the auction cycle. If there is another bid within 10 minutes of the last bid, the auction countdown timer will be restarted for another 10 minutes to allow further bidding. This system avoids last minute (or second) bidding and makes for a fairer auction as in a live room auction situation. 

Please bid in good time before the end of the auction, delaying your bid to the last seconds may disadvantage you if your connection slows or you lose internet connectivity. It is the bidder's responsibility to ensure the bid has been lodged with the auctioneer. The auctioneer accepts no responsibility for bids that are not received or are received late and reserves the right to reject any bid without notice. 

Minimum online bidding increments: 
Up to £50,000 - £250 minimum bid 
£50,001 to £150,000 - £500 minimum bid 
£150,001 to £250,000 - £1,000 minimum bid 
£250,001 to £1 million - £2,000 minimum bid 
£1 million+ -  £2,500 minimum bid 

Please note this bidding process applies specifically to online auctions. 

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