£495,000 For Sale

29-31 Town Road, Croston, PR26

Key Features

  • Restaurant investment property
  • Idyllic Croston Village location.
  • Property sold, subject to and with the benefit of the lease which expires in November 2031.
  • Rent £27,090.60 per annum.*
  • No VAT on purchase price.

A substantial semi-detached brick-built property over ground & first floors, with pitched slate roof, comprising of predominantly open-plan restaurant area, with rear kitchen, pantry and WC facilities, extending to over 1,600 square feet. The first floor provides owner's accommodation, offering four bedrooms, lounge, kitchen and bathroom. The property is to be sold subject to and with the benefit of the occupational lease and tenant, who in turn occupies by way of a 15-year lease from 11 November 2016, expiring on 10 November 2031. The rental is £24,500 per annum with 4 years of RPI inflation as follows: 2017 4.1% 2018 2.7% 2019 2.2% 2020 1.2% = Annual income £27090.60. * We understand at the current owner's discretion he is currently charging £21,500 per annum during the pandemic and a copy of the occupational lease is available on request. The subject property is situated in an idyllic position to the historic Croston Village and is immediately adjacent to The Wheatsheaf Public Houses, and is a long-established Italian restaurant. Croston is within the Borough Council of West Lancashire some 8 miles south-west of Preston, 9 miles east of Southport and 20 miles north-east of Liverpool. Connections to the motorway network (M6) are available at Leyland circa 5 miles north-east. Croston has a rail station that is within approx. 1 mile which has connections to Preston and Ormskirk.
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