Summary - 3-5, ORCHARD STREET PR1 2EN
1 bed 1 bath Retail Property (high street)
### Key Features:
- **Investment Opportunity**: Strong tenant, Luxury Leisure, with an annual yield of 8.05%
- **Lease**: 10 years remaining on an effectively Full Repairing and Insuring lease
- **Size**: Extensive 1,688 sq ft ground floor retail space plus 1,027 sq ft basement accommodation
- **Location**: Situated in a high-traffic pedestrianized retail area, surrounded by renowned retailers and entertainment venues
- **Condition**: Modern building featuring high ceilings and large windows
- **Financial Aspects**: VAT-free investment at a price point of £395,000
### Summary:
This exceptional commercial retail property in Preston City Centre represents a lucrative investment, appealing to those seeking long-term income potential. With a secure tenant in place, Luxury Leisure, generating a robust £33,000 per annum, this property reflects a solid 8.05% yield. The spacious ground floor unit, complemented by additional basement accommodation, is well-suited for various business ventures, particularly in the entertainment and gaming sectors.
Strategically located amidst popular retailers such as McDonald's and Caffe Nero, this modern three-story building benefits from significant foot traffic and visibility. While the lease has 10 years remaining, potential buyers should note that mortgage lenders may be hesitant to finance properties with shorter lease terms. Given this detail, investors should act promptly to capitalize on the unique advantages this property offers, including a VAT-free status and a thriving commercial area rife with opportunity. The energy performance certificate is available upon request, providing further insights into the property's efficiency for potential buyers.
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