- FOR SALE - City Centre Mixed Use Investment & Development Opportunity
- Total size 12,567 sq. ft.
- Producing £25,500 per annum
- Currently 73% vacant
- Development angles to increase income
- Refurbished to high specification
- Parking available in immediate vicinity
- Directly adjacent to Preston Bus Station
The property is situated on Ormskirk Road in Preston city centre directly adjacent to the newly developed Preston City Bus Station, and close to all of Preston city centre amenities.
Immediately next door there is a brand new development of 130 luxury apartments built by Heaton Group.
Surrounding commercial occupiers include The Holiday Inn Hotel, Forbes Solicitors and Preston City Council head offices.
The property is easily accessed off Preston's Ringway/ the A59 and has a number of public car parks in the immediate vicinity.
The ground floor is arranged as 5 separate retail / office units, 4 of these are vacant. They have all been refurbished to a high standard with air conditioning, LED lighting and separate utilities.
Previously 4 of the units have been occupied by an educational user however they would suit a large number of different businesses.
The barber shop (42 Ormskirk Rd) occupiers the only ground floor retail unit currently let. This has been fitted to a very high standard and is self contained with separate services.
The office space on the first and second floors has been finished with suspended ceilings, carpet tiled floors, CAT 5 cabling throughout, separate WC and toilet facilities on all floors.
The first floor is currently tenanted with the second floor vacant. The first floor is mainly open plan with a couple of smaller meeting rooms serving the main office accommodation.
The second floor is vacant and has been split into smaller suites by the previous occupiers. These partitions are none structural and could be easily removed.
The warehouse accommodation is separately accessed off Tithebarn Street via the loading bay through a large concertina sliding door. This part of the building is arranged over 4 floor of equal size. The whole area is currently vacant.
A layout plan is available on request.
Retail / Office Accommodation
|Ground Floor Retail||34 Ormskirk Road||1,081 sq. ft.|
|36 Ormskirk Road||487 sq. ft.|
|38 Ormskirk Road||452 sq. ft.|
|40 Ormskirk Road||567 sq. ft.|
|44 Ormskirk Road||768 sq. ft.|
|First Floor||34a - 42a Ormskirk Road||2,680 sq. ft.|
|Second Floor||44 Ormskirk Road||2,272 sq. ft.|
|TOTAL||8,307 sq. ft.|
|Warehouse||4 floors of 1,065 sq. ft.|
|TOTAL||4,260 sq. ft.|
* Warehouse is served by an additional Loading Bay 1,341 sq. ft.
TOTAL SIZE - 12,567 sq. ft. / 1,167 sq. m.
£925,000 (No VAT)
The property is held on a freehold basis.
44 Ormskirk Road - Let to Barbers (Sole trader) on a 3-year lease commencing June 2021 at £10,000 per annum.
34a - 42a Ormskirk Road (First Floor) - Let to V1ce Ltd. on a 5-year lease (3-year break) commencing December 2021 at £15,500 per annum.
Total current passing rent - £25,500 per annum.
A service charge equating to £2.10 per sq. ft. is payable in addition to the rent. The service charge is reviewed and reconciled annually. Full details available on request.
Each area has been rated separately and the tenants are responsible for payment of their own business rates for the areas which they occupy. Full details available on request.
Each party to be responsible for their own legal costs.
All mains services are available to the premises.
Building insurance details available on request
Strictly through agents