FOR SALE
64-74 Victoria Road West
CLEVELEYS
FY5 1AG

Unbroken Freehold Retail/Hotel Parade
Investment Opportunity

• Prime location in the centre of the vibrant coastal town of Cleveleys.
• Three-storey property comprising 6 retail units and hotel.
• Fully let with tenant’s including Costa Coffee, Max Spielmann, Pound Bakery, etc.
• Rear car parking.
• Passing rental £252,800.00 per annum, rising to £261,800.00 per annum.
• Seeking a price of £2,950,000 subject to contract and exclusive of VAT.

LOCATION
Cleveleys in an attractive and affluent coastal resort town, located in the County of Lancashire approximately 4 miles north of Blackpool, and fifteen south-west of Lancaster, and forty miles north-west of Manchester. The town serves an urban area and population of approximately 30,000, increasing to over 240,000 within six miles. The town enjoys excellent transport and communications, with the A584 providing direct access to Blackpool to the south and the A585 directly to J3 of the M55 motorway, approximately eight miles to the south-east. The town is also located on the Blackpool tramway which provides a regular direct service to Blackpool and Fleetwood.

LOCAL ECONOMY
There is 86.8% home ownership and 22.4% car ownership.

TOURISM
It is estimated the local population doubles during the summer months, due to influx of tourists.

SITUATION
The property occupies a prominent position on the town’s prime retail pitch in close proximity to the promenade and tramway.
There is strong representation from a large number of national retailers together with a range of independent retailers. Surrounding national retailers in the same prime retail pitch include Iceland, Home Bargains, Boots, New Look, M&S, B&M, etc.
The property comprises a three-storey retail parade providing six retail units together with a hotel and bar. To the rear of the property is a small car park which is included within the hotel demise. The development is attractive in appearance with the ground floor retail units all having modern shopfronts and being well fitted out internally.

ACCOMMODATION
The properties provide the following approximate net internal floor areas and EPC ratings. 

Shop Accommodation
Victoria Road West	Net Internal Floor Areas			EPC Rating
64	Ground Floor Sales	1,320 sq ft	123 sqm	C73
66	Ground Floor Sales	1,610 sq ft	150 sqm	B32
68	Ground Floor Sales	685 sq ft	64 sqm	D91
72	Ground Floor Sales	740 sq ft	69 sqm	B49
72A	Ground Floor Sales	815 sq ft	76 sqm	C65
74	Ground Floor Sales	3,690 sq ft	343 sqm	C71

 

Regal Hotel 70

The hotel has an entrance and public bar facilities on the ground floor, with approximately 38 bedrooms and owner’s accommodation on the two upper floors. The hotel provides a gross internal floor area of approximately 20,500 sq ft (1,905 sqm) To the rear there is a small car park included in the demise.

B47

Please note, the above areas have not been measured and are for reference only.

RENTAL INCOME
The current rental is £252,800 per annum in the first year, rising to £259,800 per annum in September 2026, and £261,800 per annum in September 2027. A tenancy schedule is attached, and copy leases are available upon request.

TENURE
Freehold under the Title No. LA895311.

VAT
The property is elected for VAT. Providing certain criteria are met, the transaction may be treated as a Transfer of a Going Concern (TOGC).

ANTI-MONEY LAUNDERING REGULATIONS
In accordance with Anti-Money Laundering Regulations, we are obliged to undertake AML due diligence for both the purchasers and vendors involved in a transaction. As a result, detailed financial personal and/or corporate information will be required before any transaction can conclude. Full details of the information required can be provided upon request.

PROPOSAL
We are instructed to seek a price of £2,950,000 subject to contract, and exclusive of VAT for our client’s freehold interest in this investment. A purchase at this price would reflect a net initial yield of 8.04%, allowing for usual purchaser’s costs, which will then rise to 8.34% when the rent of £361,800 pa is being collected.