investment in FY1

Lytham Road, Blackpool, Lancashire, FY1 6ET

Starting Bid
£170,000
Time left:
Bid now

Online auction

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

  • 2 Investment Properties
  • Leased Retail Units
  • Busy All Year-Round Trading Location
  • Ideal Investment Opportunity
  • South Shore, Blackpool
  • Leasehold Title

investment in FY1

FOR SALE BY AUCTION: Terms and conditions apply.

We are pleased to offer to auction these two 2-storey properties is situated in the busy all year-round trading location of Lytham Road in South Shore, Blackpool. We have been informed the two properties are generating an income of £18,000 per annum. The properties are situated in a row of shops including Tesco.

251 Lytham Road - The shop trades as a well-known and popular fabric shop selling bedding, curtains and towels.

253 Lytham Road - The ground floor of the shop is leased to Coral Bookmakers. The first floor is leased to a long-established Licensed Sports Lounge.

Please note that we have not inspected this property.

Summary

  • Property Type: Investment
  • Parking: On Street

Location

The subject properties are well located along Lytham Road, Blackpool. These properties are located within easy reach of local amenities, transport links and schools. The subject properties are located approximately 1.8 miles from Blackpool city centre.

Accommodation

251 Lytham Road: The ground floor measures approximately 885 sq. ft, it is an open plan retail space carpeted with shelving to walls and display stands, and a workshop area. The first floor measures approximately 885 sq. ft, there is 4 Stock Rooms, a kitchen, a toilet and wash basin. EXTERIOR: Communal car parking area to the rear.

253 Lytham Road: Coral Bookmakers - Ground Floor measures approximately 924 sq. ft, open plan retail space carpeted with suspended ceiling and air conditioning, the is a counter, a staff room, a kitchenette, a customer toilet and staff toilet. Q’s Sports Lounge - Separate Entrance and staircase leading to the first floor measuring approximately 748 sq. ft, there is an open plan bar lounge. The lounge area has suspended ceiling and a still room. EXTERIOR: Communal car parking area to the rear.

Tenancy Information

251 Lytham Road: We have been advised the property is tenanted at £7,500 per annum on a rolling basis.

253 Lytham Road: We have been advised that the ground floor is tenanted at £8,000 per annum. The first floor is tenanted at £2,500 per annum.

Total income: £18,000 per annum.

Tenure

Leasehold. TITLE NUMBER: LA914459

EPC

We currently await a copy of the Energy Performance Certificate.

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. 

There is no legal pack for this property.