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Lot 15

Freehold Town Centre Commercial Investment (Under 21 per sq ft Freehold)
6 Week Completion

Situation

Occupying a prominent trading position in the heart of the town centre, running parallel with the Promenade and Seafront, close to the junction with Victoria Street and amongst such multiples as Primark, Boots, H. Samuel, Poundland, Waterstones and only 50 yards from the famous Blackpool Tower.
Blackpool is one of the country's most popular holiday resorts and conference centres located 17 miles west of Preston and 58 miles north-west of Manchester, enjoying easy access via the M55 to the M6 (Junction 32).

Property

A substantial terraced property comprising a Ground Floor Triple Shop with Basement Sales Area, First Floor Sales Area plus Ancillary Storage/Staff Accommodation at Second and Third Floor level.
There is a customer lift serving the basement to second floors and a wheelchair lift serving the basement to first floors.

Accommodation¹

Ground Floor Triple Shop
Gross Frontage 60'3”
Internal Width 58'3”
Shop & Built Depth 71'2”
Sales Area Approx. 3,015 sq ft
Basement Sales Area Approx. 2,705 sq ft
First Floor
Sales Area Approx. 2,955 sq ft
Ancillary Area Approx. 173 sq ft
Second Floor Ancillary Area Approx. 3,571 sq ft
Third Floor Ancillary Area Approx. 985 sq ft

Total Area Approx. 13,404 sq ft

¹Not inspected by Barnett Ross. Areas supplied by Vendor.

VAT is applicable to this Lot

FREEHOLD

Tenancy

The entire property is let on a full repairing and insuring lease (subject to a photographic schedule of condition) to Essentials Retail Group Ltd as a Household Goods & Gifts Store (guaranteed by Worldwide Gifts Limited) for a term of 5 years from 25th February 2022 (excl. s.24-28 of L & T Act 1954) at a current rent of £35,000 per annum (see Note) exclusive rising to £40,000 p.a. on 25th February 2024.

Tenant's Break 25th February 2025 on 6 months' notice. If the tenant does not operate the Break then they receive a 3 month rent free period.

Note: The rent is currently £30,000 p.a. rising to £35,000 p.a. on 25th February 2023 therefore the Vendor will top up the rent shortfall on completion.

*Please note:

RESERVE

The 'Reserve' is the minimum figure for which a property can be sold as agreed between the Seller and the Auctioneer. The 'Reserve' is not disclosed and remains confidential between the Seller and the Auctioneer.

GUIDE

Where a 'Guide' is stated, it is an indication of the Seller's current minimum acceptable price ('Reserve') at auction. A 'Guide' is published to assist prospective buyers in deciding whether or not to pursue a purchase.

A 'Guide' does not represent an anticipated sale price or a valuation and the eventual sale price may be higher or lower. The sale price is determined at auction and as such cannot be predicted in advance.

The 'Guide' can be published as follows:

a. 'Reserve below' which means the 'Reserve' will be below the shown amount.
b. A single price figure where the 'Reserve' is not to exceed it.
c. A single price figure with a + symbol where the 'Reserve' is not to exceed that figure by more than 10%.
d. A minimum and maximum price range where the 'Reserve' is to be within that range.

The Seller's expectation as to the sale price may change during the marketing period as a result of interest received from prospective Buyers. Therefore, the Seller may increase or decrease the 'Reserve' at any time up to just before bidding commences. If the 'Reserve' becomes fixed at a level that makes the 'Guide' misleading, the Auctioneers will subsequently issue a revised 'Guide' as soon as is practicable. Accordingly, prospective bidders should monitor the 'Guide' with the Auctioneers prior to the Auction taking place via this website.

In addition to the purchase price the Successful Buyer or Successful Bidder will be liable to pay Barnett Ross Ltd a non-refundable administration fee of £1,500 including VAT or as specified on the Particulars of Sale and there may also be additional non-optional fixed or variable fees and costs. To establish the full cost of purchasing a property please inspect the special conditions of sale and all other documentation in the legal pack. Please also refer to any addendum that may be displayed on this page.

12-16 Bank Hey Street, Blackpool, Lancashire FY1 4RT