Summary - 2, CHEAPSIDE LA1 1LZ
1 bed 1 bath Commercial Property
**Standout Features:**
- Prime retail investment opportunity in Lancaster's pedestrianised centre.
- Two spacious retail units totaling 6,333 sq ft with significant income potential.
- Majority leased to Specsavers, generating £71,500 per annum until October 2028.
- Additional lease to Gadgets4UK Enterprises until October 2032, providing £20,000 per annum.
- Competitive guide price of £800,000 reflecting an impressive 11.43% gross yield.
- Freehold tenure with six-week completion available.
**Summary:**
Discover a high-yielding commercial investment in the heart of Lancaster at Unit 1 & 2, 16-20 Cheapside. Nestled on a bustling pedestrianised street, this large retail space, currently generating a total income of £91,500 per annum, offers immense potential for both seasoned investors and newcomers seeking stability in a dynamic rental market. The dominant tenant, Specsavers, has secured a lease expiring in 2028, while another retailer, Gadgets4UK Enterprises, is committed until 2032, ensuring reliable cash flow.
With a competitive guide price of £800,000, this property presents a compelling 11.43% gross yield, perfect for those looking to maximize their return. Although it is important to note that the lease’s shorter duration may pose challenges for mortgage financing, the proven location with close proximity to popular high-street brands like TK Maxx and Costa ultimately enhances its attractiveness. This prime asset, situated in a cosmopolitan area with access to numerous local amenities, won’t be available for long—seize this exceptional investment opportunity before it's gone!
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