367 Lord Street, Southport | Property for sale | Savills
Guide price £680,000(43,023,505 EGP)

367 Lord StreetSouthport

  • New
  • Sole agency
  • Freehold
Investment
Yield 11%Yield

Key features

  • 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)

High Yielding Retail/Leisure Investment Let to Loungers plc on a 15 Year Lease with No Breaks Expiring 17/01/2038 Investment Let at £75,000 per annum

About this property

  • 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.

Additional information

  • 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
  • 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.