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56-60 Euston Rd

3,842 SF 28% Leased Retail Building Morecambe LA4 5DG £250,000 (£65/SF) 11.60% Net Initial Yield

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Investment Highlights

Prominent Town Centre position adjacent to Arndale Shopping Centre.
Its location provides convenient access to Lancaster Road and Morecambe Road, two of the main thoroughfares linking Morecambe to Lancaster.

Nearby occupiers include Betfred, Iceland Supermarket and Travelodge.

Executive Summary

Offers in the region of £250,000. 56-58 is currently being marketed to let. 60 is let as a whole by way of a 5 year lease from 10 June 2013 to 9 June 2018 with the Tenant currently holding over at an annual rent of £9,000 per annum exclusive. The lease is granted on Full Repairing and Insuring terms.

Brochure

Property Facts

Sale Type

Investment

Property Type

Retail

Tenure

Freehold

Property Subtype

Storefront

Building Size

3,842 SF

Building Class

Year Built

1978

Price

£250,000

Price Per SF

£65

Net Initial Yield

11.60%

NOI

£29,000

Percent Leased

28%

Tenancy

Multiple

Number of Floors

Building FAR

1.26

Lot Size

0.07 AC

Frontage

54 ft on Euston Road

Amenities

Storage Space

Space Availability

Ground
1,647 SF
Retail
End Cap
Now

1/3

56-60 Euston Rd, Morecambe for sale Building Photo- Image 1 of 3 — Building Photo

56-60 Euston Rd, Morecambe for sale Interior Photo- Image 2 of 3 — Interior Photo

56-60 Euston Rd, Morecambe for sale Interior Photo- Image 3 of 3 — Interior Photo

The space compromises 1,647 sf of ground floor retail accommodation with 1,130 sf ancillary to the first floor. The premises are available by way of a new Full Repairing and Insuring lease for a term of years to be agreed.