Next building and former HMV shop in Preston's Fishergate put up for sale
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30-31 Fishergate - the former Woolworths shop currently occupied by Next, and 25-27 Fishergate - the former HMV shop currently occupied by charity Emmaus (Preston), are currently being offered together by agent Lambert Smith Hampton for an undisclosed price.
The freeholds are for sale, and there is no suggestion of either retailer leaving the high street.
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In the brochure made public this week, the Leeds-based agent states that it is "a significant city centre property holding extending to approximately 4,346.20 sqm (47,749 sq ft) on a prominent site extending to approximately 0.294 Ha (0.726 acres)."
They add that there are “excellent short term asset management opportunities and the potential to add further accommodation on the upper parts, subject
The literature states that Next Plc took out a 15-year lease on their partial occupation of the property at £350,000 per annum in February 2012, with four years left to run.
Emmaus (Preston) have a 12-month deal on their property, set to expire in August 2024, and for which they pay a 'peppercorn' rent – meaning a nominal amount.
Unconditional offers are invited for freehold Interest, subject to the occupational leases.
30-31 Fishergate, the former Woolworths department store, is arranged over a basement, ground and two upper floors and is occupied by Next.
The unit offers a large ground floor open plan sales area with recessed glazed shop front and a customer entrance via four glass double doors. The first and second floor offer a mix of staff accommodation and open plan stores.
25-27 Fishergate: the former HMV store comprises of two adjacent and internally linked retail units arranged over ground, first and second floors.
Both units are currently occupied by Emmaus (Preston) with independent sales accommodation to ground and first floor with stores and ancillary office space at second floor level.
The second floor is partitioned office suites which are described as “generally dated and largely unused”.
The entire property benefits from a single vehicular service/loading yard, accessed directly from Guildhall Street.
Car parking is also provided at the rear for approximately nine vehicles.
The Lancashire Post has contacted Lambert Smith Hampton for further information.