Project Description

*Submit Pre-Auction Offer

Location
The property is located on the east side of Newmarket Street within the heart of Bare, a popular residential suburb in Morecambe within the district of Lancashire.

There are a wide range of amenities and leisure facilities within close proximity to the property including numerous shops, pubs and restaurants providing good passing footfall for potential businesses.

Morecambe Golf Club and Morecambe Promenade  are both situated just 0.5 miles from the property taking approximately 10 minutes on foot.

Bare Lane train station is within easy reach and there are great road links via the A683 to the M6 motorway.

Description
This ideal mixed use investment offers versatile accommodation over two floors.

Currently arranged as two commercial ground floor retail units, one of which is currently occupied by a bakery, the other is a former takeaway shop which is currently vacant.

The first floor flat can be accessed via its own private entrance with stairs to first floor landing. The accommodation on offer comprises a spacious kitchen diner, lounge/ bedroom, two further bedrooms and fitted shower room.

Externally the property benefits from a rear yard area.

Accommodation
Property not measured.

Services
We understand the property has mains electric, water and drainage.

Tenure
Freehold

Investment Analysis
We estimate if levels of full occupancy  where achieved then the property could achieve approximately £800 pcm (£9,600 pa). Representing a gross yield of 12.8%.

Council Tax
The flat is rated in Council Tax Band A. Council Tax payable (2016/17) is £1,047.37.

Business Rates
10 Newmarket Street has a current rateable value of £1,375

12 Newmarket Street has a current rateable value of £990

*Guide Price
£75,000+

Please note an inspection of this property has not been undertaken.

Viewing by Appointment

To view this property, please contact John Pye Property – property@johnpye.co.uk – 0115 970 6060

Please click the following link to access the legal pack documents – http://www.johnpye.auctiondocs.com/

Address

10, 12 & 12A Newmarket Street
Morecambe
Lancashire
LA4 6BL

Features

✓ Ideal Investment or owner occupier
✓ Two retail units with flat above
✓ One retail unit currently occupied by a bakers
✓  First floor flat and other retail unit currently vacant
✓ Two/ three bedrooms
✓ Popular residential location
✓ Close to Morecambe promenade
✓ Viewing advised

Contact

Matt Kirk
Phone: 0115 970 6060
Email: property@johnpye.co.uk
Our Ref: PR320

TPO_generic logo

NLAlogoSupplierblue