Attractive freehold investment opportunity comprising a tenanted ground floor retail unit with a spacious three-bedroom apartment above, located in a busy year-round trading area of Lytham St Annes.
The property is arranged over three floors and is presented in good order throughout. The ground floor retail unit is currently let to a long-standing tenant operating as a pet groomers, generating immediate rental income. The first and second floor apartment is currently vacant, offering clear potential for rental uplift once fully let.
Situated on St Albans Road, the property benefits from a well-established commercial location with consistent footfall. The retail unit extends to approximately 671 sq ft and includes open-plan trading space with a kitchen/storeroom to the rear. The apartment has its own separate entrance and provides generous living accommodation, making it appealing to the local rental market.
The apartment briefly comprises a fitted kitchen with access to the shared rear yard, lounge with feature fireplace, bathroom, separate WC and three double bedrooms arranged over the first and second floors. The property is double glazed and centrally heated.
The retail unit currently produces £458.33 per calendar month (£5,500 per annum approx.) on a rolling lease, with the tenant open to agreeing a new lease with an incoming purchaser. The vacant apartment is expected to achieve approximately £750 per calendar month when let. Once fully occupied, the property offers a potential combined rental income of approximately £17,000 per annum, providing scope for further yield enhancement.
The sale is offered by auction and is subject to the fees, terms and conditions of Pattinson Auctions. Viewing is strongly recommended to appreciate the location and income potential on offer.
