Retail property (high street) for sale

£200,000 Offers over

Discover the perfect commercial space for sale on Lune Street, Preston. This property come with double glazed windows, offers a prime High Street location and great potential for a variety of commercial uses. With an asking price of offer over 200,000.00, this property presents an enticing opportunity to establish your business in a vibrant and bustling area. Conveniently located near bus stops, railway stations, supermarkets, and restaurants, this space provides seamless connectivity and access to plenty of amenities, making it an ideal choice for your business aspirations.

Location:

The property occupies a prominent position in a mix business and residential area, where the majority of businesses have been trading for many years. Only a few seconds walk from city centre and Preston Train Station. Ideal for someone looking to set up an office, newsagent, clothing store anything in retail, previous business was used a jeweller.

Description:

The premises offer an inviting front retail space with tiled ceiling and lighting, painted walls, double glazed window. Electric roller shutters are included with the building, over four floors with plenty of storage.

There are no Fixtures and Fitting included.

Accommodation:

The property provides the following approximate net internal floor areas:

Floor Description Area m/unit

Ground Floor Retail Zone A 24.5

Ground Floor Retail Zone B 19.0

Ground Floor Retail Zone C 6.3

Ground Internal Storage 3.5

First Floor Internal Storage 40.2

Second Floor Internal Storage 30.7

Basement Floor Internal Storage 34.5

All measurements have been made in accordance with the RICS Code of Measuring Practice.

Service:

Electricity and water supplies are laid on, drainage to main sewer and assumed to be in working order.

Planning:

Previously used as a jewellers shop. The premises are considered suitable for a wide variety of uses.

Prospective Tenant are advised to make their own enquiries of Preston City Councils Planning Department on 01772 906581.

EPC:

A copy of the EPC is available in due course or the can be inspected at your local Kingswood office.

Rating assessment:

Rates payable for 2024 / 2025 are 54.6p in the

This property may be entitled to 100% rates relief dependant on circumstance

The Valuation Office Agency website describe the premises as being assessed as a SHOP AND PREMISES with a Rateable Value of 5,300.00

All interested parties are, however, advised to make their own enquires of Preston City Council Rating Department on 01772 906972.

Legal Cost:

Each party are to be responsible for their own legal costs incurred in the transaction.

Viewings:

Strictly through Kingswood on an appointment basis only.

Please contact Kingswood on:

Preston City Centre Office: 01772 88 65 55, 11 Lune Street, Preston, PR1 2NL

Fulwood Office: 01772 71 71 81, 77 Watling Street Road, Fulwood, Preston, PR2 8EA

[email protected]

www.kingswoodproperties.co.uk

Disclaimer:

These particulars, whilst believed to be correct, do not form any part of an offer or contract. Intending purchasers should not rely on them as statements or representation of fact. No person in this firms employment has the authority to make or give any representation or warranty in respect of the property. All measurements quoted are approximate. Although these particulars are thought to be materially correct their accuracy cannot be guaranteed and they do not form part of any contract.

Mortgage Calculator

Your property may be repossessed if you do not keep up repayments on your mortgage.

Monthly Payment: £ 8,216.87

Monthly Payment: £ 8,216.87

Monthly Payment: £ 8,216.87

Amortization For Monthly Payment: £8,216.87 over 30 years ( Based on 3.20% Interest )

Return on Investment

£
£
£
£

Using your investment as a 25.00% deposit and £ 5,833 in costs for purchasing and getting ready to let.

Mortgage Required

£ 157700

Mortgage Loan to Value

%

Gross Yield

%

Annual ROI

%

Annual Rental Profit

£

Cumulative Rental Profit

£

Cost of Purchase

£
  • Stamp Duty
    £

    Stamp Duty is a tax paid on completion via your solicitor, the calculation includes the 3% surcharge for second homes.

  • Refurbishment Budget
    £ 5000
  • Survey Costs
    £ 400
  • Mortgage Fees
    £ 1,000

    Your home may be repossessed if you do not keep up repayments on your mortgage.

  • Legal Fees
    £ 1,300

Adjust these figures

£

The refurbishment budget is set to 2.50% of the purchase price, but this will vary dependent on the suitability of the property for the rental market. Select a value that you feel is appropriate to the condition of the property.

£

This will vary between lenders, type of report and whether or not you are buying with a mortgage, for advice on which type of survey would be appropriate speak with an advisor from Preston Baker Financial Services.

£

Lenders will often charge a fees for the arrangement of a mortgage, for advice on what lenders may charge, speak with an advisor from Preston Baker Financial Services. Your home may be repossessed if you do not keep up repayments on your mortgage.

£

This is the sum of mortgage admin, land registry, search, bank transfer and any other fees incurred.

Purchase costs include assumed mortgage and survey costs which are estimated. For a quote contact a Preston Baker Financial Services mortgage advisor who can provide you with current and accurate information. The stamp duty calculation has applid the 3% stamp duty surcharge on the basis that this will be a second property.

Annual Costs

£ 7700
  • Mortgage Interest
    £

    The mortgage is assumed to be interest only. Your home may be repossessed if you do not keep up repayments on your mortgage.

  • Letting and Management Costs (Inc VAT)
    £
  • Letting Fee
    £
  • Maintenance
    £
  • Insurance
    £ 500
  • Ground Rent
    £ 0
  • Service Charge
    £ 0

Adjust these figures

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  %
£
  %

This is the percentage of the rent that you will spend maintaining the property.

£

Ground Rent only applies to leasehold properties. This is an assumed ground rent, the confirmed figure can be found in the Property Information Questionnaire.

£

Service charge only applies to leasehold properties. The correct figure can found in the Property Information Questionnaire answered by the seller.

£

This is a standard, indicative figure only. Properties that have a service charge often have this included withing that charge. Please consult the Property Information Questionnaire for more information.

Total Profit

£
  • Final Equity Profit
    £

    Final Equity Profit = Final Property Value - Mortgage Required - Investment

  • Cumulative Rental Profit
    £

    Cumulative Rental Profit = Annual rental profit x Time of Investment

Adjust these figures

  %

This is the assumed rate of house price inflation.

Final Property Value

£

This is the property value at the end of the investment based on an assumed rate of % house price inflation.

Notes

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