Lot
    Office
    Ribchester House
    Lancaster Road, Preston, Lancashire, PR1 2QL
    £450,000+
    Guide Price (plus fees)
    Number 1
    A Vacant Seven Storey Substantial Office Building Offered with Planning Permission to Convert to 36 Flats. Part of the Rooftop is Let to Telecommunication Companies at a Rent of £13,750 Per Annum

    Description

    The property comprises an office building arranged over ground and six upper floors.

    Tenure

    Leasehold. The property is held on a 125 year lease from 2nd January 2008 (thus approximately 106 years unexpired) at a ground rent of £33,000 Per Annum.

    Location

    The property is situated on a residential road close to local shops and amenities. The open spaces of Avenham Park are within easy reach. Transport links are provided by Preston rail station.

    Accommodation

    Ground Floor
    Car Parking Space for 17 Cars

    First, Second, Third, Fourth, Fifth and Sixth Floors
    Office Space
    WCs

    Total G.I.A. Approximately 21,968 sq ft.

    Planning

    Preston City Council granted the following planning permissions:

    ref: 06/2024/0608 on 1st August 2024: 'Prior notification submission for change of use from offices (Class E) to 8no. residential units (Class C3)'.

    ref: 06/2023/0699 on 23rd June 2023: 'Prior notification submission for change of use from offices (Class E) to residential (up to 28 units) Class C'.

    Tenancy

    Part of the roof top is subject to two tenancy agreements to telecommunication companies at an annual combined rent of £13,750 per annum

    Financial Tools

    Your estimated rental returns

    Gross yield

    0.0%

    Net yield

    0.0%

    Annual income

    £0

    Adjust monthly rent to see yield calculations

    Purchase Price£450,000
    Monthly Rent£0
    Annual Costs£0

    For illustration only. Seek independent financial advice before making decisions.

    For further information, please register for the legal pack. To speak to a member of our team about this lot, please call us on
    Share this lot

    Additional Fees and Disclaimer

    Administration charge: £1,800 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.

    Guide Prices 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.

    Click Here for our Notice to Prospective Buyers

    Similar Properties

    Ribchester House, Lancaster Road, Preston, Lancashire, PR1 2QL
    LOT
    Guide Price: £450,000+
    OfficeLeasehold
    Ribchester House, Lancaster Road, Preston, Lancashire, PR1 2QL
    A Vacant Seven Storey Substantial Office Building Offered with Planning Permission to Convert to 36 Flats. Part of the Rooftop is Let to Telecommunication Companies at a Rent of £13,750 Per Annum

    Contact Our Property Experts