Commercial Property
A bar and restaurant investment opportunity comprising a town centre building let to Stonegate Pubs t/a Slug & Lettuce at a current rent of £80,000 per annum with approximately 12 years lease unexpired. The property is arranged over ground and basement floors and extends to approximately 5,500 Sq.Ft (measurement provided by vendor). We understand the property was fully refurbished internally around 5 years ago and details a largely open plan bar and dining area with adjoining kitchen and office on the ground floor and a staff area at lower ground floor. An extended 6 week completion is offered on this lot.
The property enjoys a wide frontage onto Queen Street, a busy thoroughfare leading from Blackpool North Train Station to the North Pier. The immediate surrounding area comprises a variety of bars, restaurants, nightclubs and short stay residential accommodation, within easy walking distance of many of Blackpool's main tourist destinations.
Not inspected
Auction Details
The sale of this property will take place on the stated date by way of Multi lot timed auction and is being sold under the Unconditional sale type.
Binding contracts will be exchanged at the point of sale.
All sales are subject to our Common Auction Conditions and Bidder Terms. Properties located in Scotland and Northern Ireland will be subject to applicable local laws.
Auction Deposit and Fees
The following deposits and non- refundable auctioneers fees apply:
• 10% deposit (subject to a minimum of £5,000)
• Buyer’s Fee of 2.4% of the purchase price (subject to a minimum of £2,400 inc. VAT)
There may be additional fees listed in the Special Conditions of Sale, which will be available to view within the Legal Pack. You must read the Legal Pack carefully before bidding.
Additional Information
For full details about our auction processes, please refer to the Bidder Terms which can be viewed on our home page.
This explains the types of auction and sale methods we offer, the bidding registration process, your payment obligations, and how to view the Legal Pack (and any applicable home report for residential Scottish properties).
Guide Price & Reserve Price
Each property sold is subject to a Reserve Price. The Reserve Price will be within + or - 10% of the Guide Price. The Guide Price is issued solely as a guide so that a buyer can consider whether or not to pursue their interest. A full definition can be found within the Buyers Terms.
