Secure, Long Let Leisure and Retail Warehouse Investment in Blackpool
JD Gyms & Smyths Toys, Vicarage Lane, Blackpool, Lancashire, FY4 4NB
Offers in excess of £4,150,000
- Property Type:
- Sub Type:
- Net Initial Yield:
- Edge-of-Town Gym Investment and Retail Warehouse Investment situated on the busy Vicarage Lane within close proximity to Blackpool town centre.
- The town has an extensive catchment population and benefits from excellent accessibility with the A583 & A5230 linking Blackpool to the M55 and A584 coast road, which connects the town to the affluent Lytham St. Anne’s.
- Total area of 54,857 sqft (5,096.2 sq m).
- Fully let to the strong covenants of JD Sports Gyms Limited and Smyths Toys UK Limited.
- Attractive average weighted unexpired lease term of 12.44 years (7.44 years to break).
- Producing a total rent of £330,112 pa, equating to a low passing rent of £6.02 psf.
- The rental levels are fully supported by new letting to JD Gyms and increase at 2021 rent review on Smyths Toys.
- Benefits from on-site car parking for approximately 200 cars.
- Site area of 4.3 acres (1.74 hectares).
- The vendor is seeking offers in excess of £4,150,000 (Four Million One Hundred and Fifty Thousand Pounds) subject to contract and exclusive of VAT. Based on this level of pricing, the net initial yield reflects 7.50%, assuming standard purchasers costs.