72 Church Street, Blackpool, LAN

The property comprises a mid-terraced building of brick and pre-cast concrete construction, arranged on ground and three upper floors and totalling around 3,000 sq ft NIA.
The property is located in a prime pedestrianised location within Blackpool centre opposite a number of major high street retailers. The town is served by the M55 motorway, access to which is 2.5 miles west of the town centre, connecting to Junction 32 of the M6 motorway. Local rail services run to Manchester and beyond, a direct service operates between Blackpool North and London Euston station.

Sale Notes:
The investment opportunity comprises a well located freehold retail investment, let in entirety to Greggs Plc and in a prime, pedestrianised town centre position.
The property is available on a freehold tenure at offers in excess of £975,000, which would reflect a NIY of 6.4%

The entire property is at present let to Greggs Plc for a term of 25 years from 5 March 1990 at a current rent of £66,000 per annum, exclusive of rates. The lease provides for rent reviews every fifth year of the term and contains full repairing and insuring covenants. Rent Review of March 2010 is Outstanding (Freeholder quoted £72,500 per annum)