3 Chapel Street Southport Merseyside PR8 1AE

3 Chapel Street
Southport
Merseyside
PR8 1AE

Freehold Retail Investment with Residential Potential

Retail let to Pandora Jewellery UK Limited on a 10 year lease from August 2016 (subject to option)
Application submitted to convert upper floors to two residential flats
Prime Pedestrianised Town Centre Location
Adjacent to Primark and close to Marks & Spencer, WH Smith, Boots the Chemist, H&M and New Look
For the Seller's Legal Pack, please click the Property Documents tab below

Lot
64
Auction
30th March 2017
Rent
£37,500 per Annum Exclusive
Status
Sold
Price
£495,000
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

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Freehold Retail Investment with Residential Potential

Retail let to Pandora Jewellery UK Limited on a 10 year lease from August 2016 (subject to option)
Application submitted to convert upper floors to two residential flats
Prime Pedestrianised Town Centre Location
Adjacent to Primark and close to Marks & Spencer, WH Smith, Boots the Chemist, H&M and New Look
For the Seller's Legal Pack, please click the Property Documents tab below

Lot 64
Auction 30th March 2017
Rent £37,500 per Annum Exclusive
Status Sold
Price £495,000
Sector
High Street Retail
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

Property Information

Location

Miles: 16 miles north of Liverpool, 19 miles south-west of Preston
Roads: A565, A570, M6, M58
Rail: Southport Railway Station
Air: Manchester Airport, Liverpool John Lennon Airport

Situation

The property is situated on the north side of pedestrianised Chapel Street in the heart of the town centre. Marble Place Shopping Centre is directly opposite, with nearby occupiers including Primark adjacent to the property, Marks & Spencer, WH Smith, Boots the Chemist, H&M and New Look. Southport Railway Station is situated some 160 metres to the east.

Tenure

Freehold.

Location

Miles: 16 miles north of Liverpool, 19 miles south-west of Preston
Roads: A565, A570, M6, M58
Rail: Southport Railway Station
Air: Manchester Airport, Liverpool John Lennon Airport

Situation

Tenure

Freehold.

Description

The property comprises ground floor retail accommodation with self-contained residential accommodation on the first and second floors. Planning permission has been submitted for the conversion of a single apartment on the upper floors to create two self-contained two bedroom residential flats.

VAT

VAT is applicable to this lot.

Planning

Planning permission has been submitted under reference DC/2017/00043 for the “Conversion of single apartment on upper floors to create two self-contained apartments”. Sefton Council Planning Services. Magdalene House, 30 Trinity Road, Bootle, L20 3NJ. Tel: 0345 140 0845 Email: planning.department@sefton.gov.uk

Completion Period

Six Week Completion

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

VAT

VAT is applicable to this lot.

Planning

Completion Period

Six Week Completion

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Review
Ground	Retail	112.75 sq m	(1,214 sq ft)	PANDORA JEWELLERY UK LIMITED (1)	10 years from 31/08/2016 until 2026 on a full repairing and insuring lease (2)	£37,500	31/08/2021
First	Residential Maisonette	(See planning application)		Vacant Possession
Total Commercial Area		112.75 sq m	(1,214 sq ft)			£37,500

(1) Founded in 1982 and headquartered in Copenhagen, Denmark, PANDORA employs more than 21,500 people worldwide and is publicly listed on the NASDAQ Copenhagen stock exchange in Denmark (Source: www.pandora.net). For the year ending 31st December 2015, Pandora Jewellery UK Limited reported a turnover of £234,330,000, pre-tax profits of £21,457,000 and a total net worth of £92,385,000 (Source: Experian Group 24/02/2017).
(2) The lease provides for a tenant option to determine the lease on 31st August 2021.