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Lancaster - St Nicholas Arcades 7 Penny Street LA1 1UA

Ground Floor 2,467 sq.ft | Additional 2,790 sq ft | Rent £75,000 per annum

pdf Lancaster 7 Penny Street (1.28 MB)

Location

Lancaster, one of England’s 13 Heritage Cities, has a City Centre population of 48,085 with a Local Authority population of 138,375 (source: ONS – 2011 Census). Lancaster University, ranked in the UK’s Top 10 Universities by The Guardian for 2021, is home to almost 17,000 students with almost a third of those being from overseas. The City Centre provides a well connected and compact retail offer and benefits from having avoided over-development and as such the overall vacancy rate is relatively low in the primary retail pitches.

Anchored by Next and Boots St Nics (previously St Nicholas Arcades) is a covered, un-gated scheme that merges into prime Penny Street and benefits from a 300 space undercroft car park. The occupier line up offers a mix of retailers including Lush, o2, Superdrug, Costa, The Entertainer, Trespass and HMV amongst others.

The subject premises are in a 100% prime location fronting pedestrianised Penny Street, adjacent to o2 and opposite Thorntons and JD.

Accommodation

The premises provide the following approximate net internal floor areas:-

Floor sq.m. sq.ft.
Internal Width 9.04 m (29’ 68”)
Shop Depth 26.98 m (88’6”)
Ground Floor 229 sq.m (2,467 sq.ft)
First Floor 184 sq.m (1,983 sq.ft)
Second Floor 75 sq.m (807 sq.ft)

Terms

The shop unit is available on a new effectively full repairing and insuring lease.

Rent

£75,000 per annum exclusive of service charge, insurance, business rates and VAT.

Service Charge

The current service charge is £16,714 per annum.

Rates

Rateable Value (2017) £83,500
Interested parties are advised to make their own enquiries with the Local Authority (Tel: 03000 501 501) or visit www.voa.gov.uk. Due to Covid 19 Government assistance no rates due till April 2021.

Costs

All figures quoted are subject to VAT where applicable. The ingoing party is to be responsible for their own legal costs incurred in the transaction where applicable.

EPC

The property has an EPC rating of (E) 122. A copy of the EPC is available upon request.

Viewing

Strictly by prior arrangement with Nick McAllester or Luke Nicholson of this office. Or via our Joint Agents Bradys John Brady 0161 839 1213

Nick McAllester:

Luke Nicholson:

Subject To Contract & Without Prejudice
& Subject To Vacant Possession

Misrepresentation Clause

  • Status: Available
  • Area sq ft: 5,257
  • Area m sq: 488.39
  • Location: Lancaster