Retail Warehouse, Blackpool

Commercial

Retail Warehouse

£4,150,000Fixed price

Income £330,112pa
Edge-of-Town Gym Investment and Retail Warehouse Investment situated on the busy Vicarage Lane within close proximity to Blackpool town centre.
The town has an extensive catchment population and benefits from excellent accessibility with the A583 & A5230 linking Blackpool to the M55 and A584 coast road, which connects the town to the affluent Lytham St. Anne’s.
Total area of 54,857 sqft (5,096.2 sq m).
Fully let to the strong covenants of JD Sports Gyms Limited and Smyths Toys UK Limited.
Attractive average weighted unexpired lease term of 12.44 years (7.44 years to break).
Producing a total rent of £330,112 pa, equating to a low passing rent of £6.02 psf.
The rental levels are fully supported by new letting to JD Gyms and increase at 2021 rent review on Smyths Toys.
Freehold.
Benefits from on-site car parking for approximately 200 cars.
Site area of 4.3 acres (1.74 hectares).
The vendor is seeking offers in excess of £4,150,000 (Four Million One Hundred and Fifty Thousand Pounds) subject to contract and exclusive of VAT. Based on this level of pricing, the net initial yield reflects 7.50%, assuming standard purchasers costs.

Marketed by

Allsop

Call
020 7543 6847