Property photos
Auction
From
£680,000
Property for sale
Lord Street, Southport PR8Local area information
Property location
Nearby amenities
- Southport 0.2 miles
- Holy Trinity Church of England Primary School, Southport 0.4 miles
- St Philip's Church of England Primary School 0.7 miles
- Birkdale 1.1 miles
These distances are calculated in a straight line. The actual route and distance may vary.
Read our area guide for Southport to find out more about the local area.
Features and description
- High Yielding Retail/Leisure Investment
- Let to Loungers plc (t/a Ocullo Lounge)
- 15 Year Lease Expiring 17/01/2038 (No Breaks)
- Prominent Corner Pitch
- VAT Free Investment
- Investment Let at £75,000 p.a. (11% giy on Guide Price)
Strapline
Auction Sale - 19/11/2024
High Yielding Retail/Leisure Investment Opportunity Occupying a Prominent Corner Pitch
Let to the Well Regarded Covenant of Loungers plc on a 15 Year Lease with No Breaks Expiring 17/01/2038
Investment Let at £75,000 per annum
Description
The property comprises a high yielding retail/leisure investment let on a 15 year lease with no breaks to Loungers plc.
Arranged across ground and three upper floors, the ground and first floors are let to Loungers plc (t/a Ocullo lounge) on a 15 year lease with no breaks expiring 17/01/2038. The tenant commenced occupation in 2023 and we understand approx £1.3m was spent on fit-out.
The Grade II listed building occupies a prominent corner pitch in the historic centre of Southport. The street benefits from high footfall and is characterised by a mix of local and national retailers and restaurants. Nearby occupiers include Caffe Nero, Prezzo, and HSBC.
Tenancy
The ground and first floors are let to Loungers plc (t/a Ocullo lounge) on a 15 year lease with no breaks expiring 17/01/2038.
The lease is on effective fr&I terms and includes 5 yearly, upward only, open market rent reviews.
Loungers plc
Source: Icans
Founded in 2002; the Loungers Group operates from over 260 sites across the UK. The group continues to grow with ambitions to expand by 30 new stores per year.
Auction Sale - 19/11/2024
High Yielding Retail/Leisure Investment Opportunity Occupying a Prominent Corner Pitch
Let to the Well Regarded Covenant of Loungers plc on a 15 Year Lease with No Breaks Expiring 17/01/2038
Investment Let at £75,000 per annum
Description
The property comprises a high yielding retail/leisure investment let on a 15 year lease with no breaks to Loungers plc.
Arranged across ground and three upper floors, the ground and first floors are let to Loungers plc (t/a Ocullo lounge) on a 15 year lease with no breaks expiring 17/01/2038. The tenant commenced occupation in 2023 and we understand approx £1.3m was spent on fit-out.
The Grade II listed building occupies a prominent corner pitch in the historic centre of Southport. The street benefits from high footfall and is characterised by a mix of local and national retailers and restaurants. Nearby occupiers include Caffe Nero, Prezzo, and HSBC.
Tenancy
The ground and first floors are let to Loungers plc (t/a Ocullo lounge) on a 15 year lease with no breaks expiring 17/01/2038.
The lease is on effective fr&I terms and includes 5 yearly, upward only, open market rent reviews.
Loungers plc
- D&B Rating - 5A2
- Turnover (2024) - £353m
- Pre-Tax Profit (2024) - £11.4m
- Total Assets (2024) - £409m
Source: Icans
Founded in 2002; the Loungers Group operates from over 260 sites across the UK. The group continues to grow with ambitions to expand by 30 new stores per year.
More information
Listed by
Savills - National Auctions
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