Available
Morecambe – Former Bank with Residential Development Potential
Lunedale House, Unit 4, Market Street, Morecambe LA4 5DWFreehold Vacant Retail Investment with Development Potential
Investment Consideration
- ERV: £25,000 p.a. GIY: 8.33%
- Residential development potential subject to obtaining the necessary consents
- Comprises ground floor former bank with ancillary accommodation at first floor
- Total net internal area: 414.41 sq m (4,459 sq ft)
- Pedestrianised town centre location with occupiers nearby including Barclays Bank, Ladbrokes, Home Bargains, Subway and Nationwide, amongst many more.
Key Features
Tenure
Freehold
VAT
VAT is Applicable
Property Description
The property is arranged as a ground floor former bank with offices and ancillary accommodation at first floor. The property benefits from rear service access and provides the following accommodation and dimensions:
Ground Floor: Former Bank
Internal Width - 7.62 m Shop Depth - 30.00 m
Net internal area : 196.33 sq m (2,112 sq ft)
First Floor: Offices and Ancillary
Net internal area: 218.08 sq m (2,347 sq ft)
Total net internal area: 414.41 sq m (4,459 sq ft)
Ground Floor: Former Bank
Internal Width - 7.62 m Shop Depth - 30.00 m
Net internal area : 196.33 sq m (2,112 sq ft)
First Floor: Offices and Ancillary
Net internal area: 218.08 sq m (2,347 sq ft)
Total net internal area: 414.41 sq m (4,459 sq ft)
Tenancy Description
The entire property is at present vacant. ERV: £25,000 per annum.
Tenancies & Accommodation
Location Description
Morecambe is a popular coastal town with a population of approximately 51,000. The town benefits from good road communications, with the M6 (Junction 34) being 6 miles to the east. Morecambe overlooks Morecambe Bay and is 4 miles north-west of Lancaster, 31 miles north-west of Preston and 42 miles north of Blackpool. The property is situated on the west side of Euston Road at the junction with Market Street, close to an entrance to the Arndale Centre within the pedestrianised central shopping area. Occupiers close by include Barclays Bank, Ladbrokes, Home Bargains, Subway and Nationwide, amongst many more.
