FOR SALE
Prime Retail Investment
6-8 Penny Street
LANCASTER
LA1 1UA

• New Lease agreed with effect from 2 June 2025
• 100% Prime Location adjacent to JD Sports
• Rack-Rented at £63 per sq ft Zone A
• Not VAT Registered
• Ideal SIPP Purchase
• Let to Strong Independent Retailer

LOCATION
The property occupies a 100% prime trading location on Penny Street adjacent to JD Sports and in close proximity to occupiers such as Lush, Vision Express, Wilco, Card Factory, Clarks, etc.

DESCRIPTION
The property is arranged over ground, first and second floors, and is of brick construction, under a pitch slate roof.

ACCOMMODATION
The premises provide the following approximate net internal floor areas:
Ground Floor Sales                  63.17 sqm          (680 sq ft)
First Floor                                        22 sqm          (325 sq ft)
Second Floor                               30.8 sqm          (328 sq ft)
All measurements have been made in accordance with the RICS Code of Measuring Practice.

TENURE
The property is held freehold.

TENANCY
The property is let to Toysenterprise Limited, with a guarantee from Adnan Shafique. The lease runs for 10 years from 2 June 2025 and is drawn on full repairing and insuring terms subject to a rent review at the end of the 5^th year of the term in an upward direction only, and a simultaneous tenant’s break option subject to the tenant giving 6 months’ written notice.

RENTAL
£34,000 per annum.

EPC
An Energy Performance Certificate will be provided in due course.

VAT
The property has not been elected for VAT purposes.

ANTI-MONEY LAUNDERING REGULATIONS
In accordance with Anti-Money Laundering Regulations, two forms of identification and confirmation of the source of funding will be required from the successful purchaser.

PROPOSAL
We are instructed to seek a price of £345,000 subject to contract for the client’s freehold interest.