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3 Orchard St 2,725 sq ft Retail Unit Offered at £350,000 in Preston PR1 2EN
Investment Highlights
- Good level of passing trade being on a retail street.
- Amongst such multiple retailers as Greggs, Halifax, Amplifon, Card Factory and Coral.
- Benefits from good transport links with Preston Railway Station close by.
Executive Summary
The property comprises a masonry constructed building offering retail and office space situated over four floors. The property is located on Orchard Street in Preston. The property benefits from good transport links with Preston Railway Station and A59 being close by.
1 Unit Available
- Unit
- Unit Size
- Unit Use
- Price
- NOI
| Sale Type | Investment | Tenure | Long Leasehold |
| Net Initial Yield | 9.40% |
| Sale Type | Investment |
| Net Initial Yield | 9.40% |
| Tenure | Long Leasehold |
Description
A substantial mid terraced building comprising a ground floor retail unit of 1,688 sq ft with ancillary accommodation at basement level of 1,027 sq ft. The upper floors, which are not part of our client’s ownership, comprise approx. 2,700 sq.ft of office accommodation.
Sale Notes
The property is help on the remainder of a 999 year long leasehold which commenced 2019. The ground rent is one peppercorn per annum, if demanded.
| Unit | Unit Size | Unit Use | Price | NOI |
| Unit 3 | 2,725 sq ft | Retail | £350,000 (£128.44/sq ft) | £32,900 |
Unit 3
| Unit Size |
| 2,725 sq ft |
| Unit Use |
| Retail |
| Price |
| £350,000 (£128.44/sq ft) |
| NOI |
| £32,900 |
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Unit 3
| Unit Size | 2,725 sq ft |
| Unit Use | Retail |
| Price | £350,000 (£128.44/sq ft) |
| NOI | £32,900 |
| Sale Type | Investment |
| Net Initial Yield | 9.40% |
| Tenure | Long Leasehold |
| Description | |
| A substantial mid terraced building comprising a ground floor retail unit of 1,688 sq ft with ancillary accommodation at basement level of 1,027 sq ft. The upper floors, which are not part of our client’s ownership, comprise approx. 2,700 sq.ft of office accommodation.</li></ul> | |
| Sale Notes | |
| The property is help on the remainder of a 999 year long leasehold which commenced 2019. The ground rent is one peppercorn per annum, if demanded.</li></ul> |
Property Facts
The following property facts and amenities apply to the entire building. Details for individual condo units may vary and are listed in the unit information above.
| Total Property Size | 5,415 sq ft | Floors | 5 |
| Property Type | Retail (Unit) | Typical Floor Size | 1,083 sq ft |
| Property Subtype | Shopfront Retail / Office | Year Built | 1934 |
| Costar Property Class | B |
| Total Property Size | 5,415 sq ft |
| Property Type | Retail (Unit) |
| Property Subtype | Shopfront Retail / Office |
| Costar Property Class | B |
| Floors | 5 |
| Typical Floor Size | 1,083 sq ft |
| Year Built | 1934 |
Amenities
- Security System
- EPC - A
- Storage Space
- Air Conditioning
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3 Orchard St
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