For Sale on behalf of Fixed Charge Receivers Hotel and Leisure Investment Opportunity SOUTHPORT - 589-599 LORD STREET
AVAILABLE
- Sale On behalf of James Liddiment and Paul Greenhalgh of KR8 Real Estate acting as joint LPA Fixed Charge Receivers
- Prominent corner position fronting Lord Street, Southport’s principal thoroughfare, at its junction with Seabank Road
- Premises provide two ground floor bars with fourteen en suite hotel bedrooms above, extending to approximately 7,315 sq ft (679.56 sq m)
- Let to CSINC Properties Ltd (t/a Sinclairs) and GBG Southport Ltd (t/a Gingers)
- All tenants open and trading
- Freehold, registered under title number MS310526. The freehold includes 1a Seabank Road, which has been sold off on a 999 year lease from 1 January 2010 at a peppercorn rent.
- Leases expiring between October 2030 and March 2031 (subject to break clauses)
- Total Rent: £90,000 per annum
- Seeking offers in excess of £795,000 subject to contract and exclusive of VAT.
- Net Initial Yield: 10.73% (after allowing for purchaser’s costs at 5.48%).