Auction House London

Lot 90A

Retail Property (high street) - Commercial Property 

3 Orchard Street

Preston, Lancashire, PR1 2EN

Sold Prior for £290,000

A Well Positioned Ground & Lower Ground Floor Commercial Investment Producing £33,000 per annum.

Description

The property comprises a mid terrace mixed use building arranged over lower ground, ground and two upper floors.

Tenure

Virtual Freehold. The property will be held on a new 999 year lease upon completion.

Location

The property is situated on a pedestrianised high street in Preston amongst local shops and amenities. Nearby multiples include McDonalds, H&M, Halifax, Greggs and Coral. Transport links are provided by Preston rail station.

VAT

VAT is not applicable

Addendum

Sold Prior

Accommodation & Tenancy Schedule

Property Floor Accommodation Lessee Lease Term Current Annual Rent Notes
3 Orchard Street Ground & Lower Ground Shop Area and Basement Storage Area Measuring Approx. 2,715 sq ft (252 sq m) Luxury Leisure (Adult Gaming) T/a Admiral. 15 years from 19th March 2018 £33,000 Rent reviews and tenant breaks 2023 and 2028.

Additional Fees and Disclaimer

Administration charge: £1,500 including VAT unless otherwise stated in the addendum.

Buyers Premium and Disbursements: Please see the legal pack and the addendum for any disbursements and buyers premium that may be payable by the purchaser on completion.

Guides are provided as an indication of each seller's minimum expectation. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Each property will be offered subject to a Reserve ( a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.

Particulars including images and video tours on the website and within the catalogue are believed to be correct but their accuracy is not guaranteed. The auctioneers will always endeavour to inform prospective purchasers of variations to the catalogue, when such changes are brought to their attention. The auctioneers nor their clients can be held responsible for any losses, damages, or abortive costs incurred in respect of lots that are withdrawn or sold prior to auction. Viewings are carried out by third party agents and we will endeavour to give appropriate notice should the published viewing time change. Auction House London will not be liable for any costs or losses incurred due to viewing cancellations or no shows. Information relating to Rating matters has been obtained by verbal enquiry only. Prospective purchasers are advised to make their own enquiries of the appropriate authorities. Prospective purchasers are deemed to verify for themselves whether tenanted properties are occupied and rents are being paid. All measurements, areas and distances are approximate only. Potential buyers are advised to check them. No representation or warranty is made in respect to the structure of any properties nor in relation to their state of repair. Prospective buyers should arrange for a survey of the particular lot by a professionally qualified person.

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SOLD PRIOR
For further information, please register for the legal pack. To speak to a member of our team about this lot, please call us on 020 7625 9007 or email us at info@auctionhouselondon.co.uk

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