Ground Floor 2,467 sq.ft | Additional 2,790 sq ft | Rent £75,000 per annum
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.
The premises provide the following approximate net internal floor areas:-
|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)|
The shop unit is available on a new effectively full repairing and insuring lease.
£75,000 per annum exclusive of service charge, insurance, business rates and VAT.
The current service charge is £16,714 per annum.
|Rateable Value (2017)||£83,500|
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.
The property has an EPC rating of (E) 122. A copy of the EPC is available upon request.
Strictly by prior arrangement with Nick McAllester or Luke Nicholson of this office. Or via our Joint Agents Bradys John Brady 0161 839 1213