Your Bid
Guide price TBA
Hammer price

Withdrawn

Withdrawn Prior

Sold

Sold Prior

Sold Post

Place a proxy bid on Lot #{{ lot.total_lot_number }}

Guide Price:

TBA
Bid now

Floorplan
    • View Virtual Tour

      Play

    Remove from wishlist

    Add to wishlist

    Key features

    • To be Offered Wednesday 30 October
    • High Yielding Retail Investment
    • Parade of 13 Units
    • Fully Let - Producing £212,500 per annum
    • WAULT of 4.82 Years to Expiry
    • Asset Management Potential
    • Established and Popular Location
    • Investment Let at £212,500 p.a. (12.14% GIY on Guide Price)

    Description

    The property comprises a high yielding fully let retail investment opportunity located in the heart of Formby.

    Arranged as a parade of 13 retail units, the property is fully let to 13 separate tenants, providing a diverse income stream totalling £212,500 per annum. The property has an attractive Weighted Average Unexpired Lease Term (WAULT) of 4.82 years to expiry and offers asset management via regearing of several leases and improvement of rents. We estimate the rental value of the asset to be in excess of £220,000 per annum.

    Formby is a popular and affluent town in north west England. The property enjoys a prominent position adjacent to Chapel Lane and enjoys both low vacancy rates and high footfall. Nearby occupiers include Waitrose, Iceland, Caffe Nero and Boots.

    Additional information

    Tenure

    Leasehold - 999 Years - Please Consult the Legal Pack

    Tenancy

    Please consult the Tenancy Schedule and Legal Pack for more information.

    Rent

    £212,500 per annum

    Notes

    Joint Agent



    Joseph Kemp

    Savills - UK Investment

    07866 203 541

    joseph.kemp@savills.com

      • View Virtual Tour

        Play

      Arrange a viewing

      Please arrive promptly for your viewing. To view properties you have booked a viewing for, visit the My Viewing section of your account.

      Please select a time from the options below

      All viewings at this property have now taken place prior to the auction. For further information on the property please download the legal pack or email the property contact.

      Savills are not holding any viewings for this property. For further information please download the legal pack or email the relevant Savills Contact directly.

      Viewings are in the process of being finalised and will be online shortly, please click here for a notification when they go online.

      No set viewings will be available on this property prior to auction due to the tenants in situ. Please refer to the legal pack for further information.

      No set viewings will be available on this property prior to auction due to safety concerns within the property. Please refer to the legal pack for further information.

      There are no formal viewings for this property. You can visit during commercial trading hours as a customer.

      Accommodation / Tenancy Schedule

      Local information

      Legal documents

      Login to view legal documents

      EPC rating

      If no EPC rating appears please refer to the legal pack.

      Guide prices and common auction conditions

      •Guide prices given are indications within 10% upwards or downwards of where the reserve price may be set at the time of going to print. Please note they are not an indication of the anticipated sale price or a valuation.

      •The reserve price is the minimum price at which the property can be sold.

      •Both the guide price and reserve price may be subject to change up to and including the day of the auction.

      •For unsold properties after an auction an Available price may be listed. This is the price that the seller(s) are looking for post auction, subject to contract and no higher offers, and has no relation to the guide prices listed prior to the auction sale.

      Please note that all prices listed, whether prior to or post auction, are subject to contract.

      The Auctioneers and sellers accept no responsibility for any loss, cost or damage that a buyer may incur as a result of relying on any guide price. It is the buyer's responsibility to decide how much they should bid for any lot. Please check with us for regular updates as guide prices are subject to change prior to the auction.

      The guide price does not include the buyer's fee charged by the auctioneer or VAT which may apply to the sale or other amounts the seller may charge. The seller's Special Conditions of Sale will state whether there are other seller's charges and whether the seller has elected to charge VAT on the sale price.

      Addendums