Summary - 199-201, LORD STREET PR8 1PF
1 bed 1 bath Commercial Property
Prominent town-centre block with immediate rental income and refurbishment potential.
- Prominent Lord Street location with glazed frontage and bay windows
- Large ground-floor former restaurant approx. 2,430 sqft NIA
- Mezzanine seating area, basement kitchen and rear access included
- Four upper one-bed flats producing c. £26,940 pa fully let
- One upper flat currently vacant, available to re-let at £625 pcm
- Ground floor vacant and offered at £18,000 pa—requires refit
- Sold subject to existing residential tenants; tenancies unaffected
- Located in very deprived area with high local crime rates
A substantial four-storey mixed-use building on prominent Lord Street, offered with vacant possession of the ground-floor restaurant and fully let upper residential units. The ground-floor former restaurant extends to approximately 2,430 sqft NIA with glazed frontage, mezzanine seating, basement kitchen and rear access — suitable for an operator or conversion subject to consent. The upper floors comprise four self-contained one-bed flats producing about £26,940 per annum when fully let; one flat is currently vacant and ready to re-let at £625 pcm.
This property suits an investor seeking immediate rental income plus short-term uplift from let-up of the vacant flat and letting the ground floor. It also offers longer-term redevelopment or asset management potential given the large retail footprint and prominent town-centre position. The red-brick Edwardian façade and bay windows add character and street appeal.
Buyers should note material negatives: the building sits in a very deprived area with higher-than-average crime rates, which may affect tenant demand and retail footfall. The ground-floor unit will require refurbishment or fit-out for a new operator; any change of use or substantial works may need planning and building regulation approvals. The sale is subject to and with the benefit of existing residential tenancies, who remain unaffected by completion.
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