Commercial investment office building

A vacant seven-storey substantial office building offered with planning permission to convert to 36 flats. Part of the rooftop is let to telecommunication companies at a rent of £13,750 per annum. The property comprises an office building arranged over ground and six upper floors, offering a total gross internal area of approximately 21,968 sq ft. The ground floor provides car parking space for 17 cars, while the first through sixth floors comprise office space and WCs. The property is held on a 125-year lease from 2nd January 2008 (thus approximately 106 years unexpired) at a ground rent of £33,000 per annum. Situated on a residential road close to local shops and amenities, the open spaces of Avenham Park are within easy reach. Transport links are provided by Preston rail station. Preston City Council granted planning permissions under ref: 06/2024/0608 on 1st August 2024 for prior notification submission for change of use from offices (Class E) to 8 residential units (Class C3), and under ref: 06/2023/0699 on 23rd June 2023 for prior notification submission for change of use from offices (Class E) to residential up to 28 units (Class C). Part of the rooftop is subject to two tenancy agreements to telecommunication companies at an annual combined rent of £13,750 per annum.