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108 London Road, Liverpool L3 5NL

Location

The property is prominently located about half a mile east of Liverpool City Centre, fronting London Road between Greek Street and Hart Street. 

London Road is a significant and established secondary shopping and mixed-use area with retail multiples such as Home Bargains, Tesco Express and Lidl food stores. 

London Road forms an important link road with Edge Lane which is a major gateway thoroughfare connecting Liverpool to national and regional motorway networks. 

The property is close to the Royal Liverpool Hospital, School of Tropical Medicine and there is a high density of student population in the surrounding area.

 

Description

Expressions of Interest:

  • To Let / To Buy (long leasehold).
  • Guide Rent - £18,000 per annum (once refurbished) / Guide Price - £200,000 (once refurbished)
  • Prominent high street retail premises. 
  • Approximately 97.9 sq m (1,054 sq ft) across ground and two upper floors.

 

The property comprises of a Victoria period middle of terrace high street retail property. 

The building is of traditional brick construction underneath a pitched roof covered with slate tiles and finished with original cast metal rainwater goods. 

Accommodation is arranged across ground, first and second floors, plus basement.  Access to the property is afforded via a ground floor pedestrian entrance door positioned on the front elevation which incorporates a plate glass display widow secured by an electrically operated metal security roller shutter.

Internally, the ground floor property provides a split-level sales area comprising a shop front and a low rise staircase leading to rear storage/preparation area and ancillary accommodation by way of a single storey flat roof rear projection. 

The upper floors are accessed via a timber staircase leading to two rooms at first floor and a further room plus bathroom on the second floor.  

Externally, the property benefits from access to a communal rear appoints yard area, which provides access to the basement via a set of concrete steps.

 

Please Note:  

The premises are in a dilapidated condition and will need to be reinstated at the cost of any incoming tenant/buyer.  The works to be undertaken will need to comply with all statutory regulations and minimum energy efficiency standards.

 

 

Tenure

The City Council owns the freehold interest and is seeking to dispose of the property by way of a short term occupational lease (5 / 10 years at an annual rent) or it may consider a long lease disposal for a premium (125 years at a peppercorn rent).

The lease will be on a Full Repairing Insuring basis.

The lease will include other such terms as set out by the City Council within their standard form lease. 

Please Note: 

The lease is to be contracted outside of the security of tenure provisions of the Landlord & Tenant Act 1954. 

 

Offers

CONSIDERATIONS & CONDITIONS:

The Council is seeking expressions of interest submissions from both individuals and businesses interested in various retail / business uses for this property.

Offers can be made for the occupation leasehold interest (at an annual rent rent) or long leasehold interest (for a premium) on terms to be agreed.

  • A rental offer for the property (5 / 10 year occupation lease) with a guide rent of £18,000 per annum or;
  • A premium offer for the property (125 year peppercorn rent long lease) with a guide price of £200,000
  • The guide prices are provided to reflect the refurbished condition
  • The guides stated are exclusive of VAT
  • Subject to contract and City Council approval 

Please Note:  

The premises are in a dilapidated condition and will need to be reinstated at the cost of any incoming tenant/buyer. 

The works to be undertaken will need to comply with all statutory regulations and minimum energy efficiency standards.

Please make allowances for these works within any offer submitted. 

 

FORMAL OFFERS & SUBMISSION PROCESS:

Formal written offers are sought from interested parties who are required to provide the following information:

  • Full details of the individual/company
  • Written details of your proposed use for the property
  • A rental offer for the property (occupational lease) or;
  • A premium offer for the property (long leasehold)
  • Completion of the Council's due diligence process (a link to the form is under the Relevant Documents heading at the top of this webpage) 
  • Evidence of any previous business experience
  • Your business plan for the next five years
  • Any other relevant information to support your offer

1) The Council is not bound to accept the highest or any offer made;

2) The Council reserves the right to shortlist the submitted offers pending future negotiation;

3) Submissions should be made by email ONLY to the address below;

 

adam.taylor@liverpool.gov.uk

 

Submissions should be made by 5:00pm on Tuesday 31 December 2024

 

Fees

ADDITIONAL COSTS:

All lettings are subject to the payment of the City Councils surveyor’s costs of £3,000 and legal fees of £1,000.

Long leasehold disposals will be subject to a charge calculated on a percentage of the premium offered, 5% surveyor costs and 4% legal costs, subject to a minimum of £3,000 surveyor's costs and legal fees of £1,000.

 

Rates

The property is currently listed under the 1 April 2023 rating list with a rateable value of £5,500.

Interested parties are to rely upon their own enquiries as to any business rates payable for the subject property.

Please contact 0151 233 3008 for further information.

 

Planning

Suitable for a variety of business uses, subject to planning.  Interested parties should rely upon their own enquires with regards to possible changes of use. 

Interested parties should also make themselves aware of relevant planning policy relating to changes of use for commercial property, including advice on the following link:-

www.liverpool.gov.uk/planning-and-building-control/guidance-and-policies/advice-notes/

The Planning Authority provide a pre-application service, details of which can be found on the following link:-

www.liverpool.gov.uk/business/planning-and-building-control/preparing-an-application/our-pre-application-service 

Any planning enquiries should be made through this process. 

 

Viewing Arrangements

FURTHER INFORMATION AND VIEWINGS:

Due to the condition of the property, details of viewing days will be made available and updated on this webpage in due course.

All appointments are strictly by prior arrangement only.

 

If you have any enquiries or requests for further information, please contact: 

Liverpool City Council, Property Management Department

Contact: Adam Taylor

Email address: adam.taylor@liverpool.gov.uk 

Address: Liverpool City Council, Cunard Building, Water Street, Liverpool, L3 1AH

 

Consumer Protection from Unfair Trading Regulations 2008 and the Business Protection from Misleading Marketing Regulations 2008:

The information provided on this webpage has been provided in good faith and is considered to be correct at the time of publication (November 2024). Liverpool City Council (‘LCC’) has taken all reasonable precautions and has exercised all reasonable due diligence to ensure its accuracy. However, absolute accuracy cannot be guaranteed and must not be relied upon. All measurements, areas and boundaries are approximate and given for illustrative purposes only. Prospective purchasers must assure themselves, through their own investigations, that the information contained in these particulars is accurate and if there is any doubt to clarify it with LCC first. LCC, its agents and employees cannot be held responsible if the information in this brochure is subsequently relied upon by prospective purchasers who suffer loss as a result.