6-10 Bank Hey Street, Blackpool, FY1 Development Opportunity For Sale
- Tenanted Four Storey Mid Terraced Retail Unit
- Prime Town Centre Location
- Ideal Investment Opportunity with P.P. to form 3 Retail Units & 7 Self Contained Permanent Flats
- Situated Close to Popular High Street Retailers and Food Establishments
- Predominantly Open Plan Ground and First Floors with Stock/Changing Rooms
- Basement and Second Floors historically used for Storage, WC's and Kitchens
- Priced to Sell
- Viewing Highly Recommended
Kenricks are pleased to offer this ideal investment opportunity for sale. This substantial retail property is currently tenanted on a 2yr Lease from 1st Feb 2019 achieving a Rent of £10,000 pa + VAT in 1st year and a Rental of £20,000 pa + VAT in the 2nd year with a 12 month Landlord/Tenant break clause. The property is situated in a prime High Street Town Centre location in Blackpool.
The property comprises a four storey, mid terraced retail unit. The ground and first floors are predominantly open plan with the exception of stock and changing rooms. The basement and second floor have been used historically for storage and staff with WC's and kitchens located on these floors.
The ground floor has the benefit of a fully glazed frontage and a recessed entrance which has the benefit of a full width electric roller security shutter. The two main retail floors have the benefit of a suspended ceiling with recessed lighting, air conditioning and laminate flooring.
Approximate gross internal areas:
Basement 210sqm / 2,262sq ft
Ground floor sales 264sqm / 2,846sq ft
First floor sales & storage 265sqm / 2,860 sq ft
Second floor storage 188sqm / 2,025sq ft
TOTAL 927sqm / 9,993sq ft
VAT - This property is subject to VAT.
BUSINESS: Currently tenanted on a 2yr Lease from 1st Feb 2019 at a Rent of £10,000 pa + VAT in 1st year and a Rental of £20,000 pa + VAT in the 2nd year with a 12 month Landlord/Tenant break clause.AGENTS NOTES: We are informed Planning Permission has been granted for external alterations to form 3 retail units (Class A1) at ground floor level and use of upper floors as 7 self-contained permanent flats. We understand from the Vendor that this investment could achieve a yield of over 12%.
The advertised rental figure does not include fees.