Property for sale

Penny Street, Lancaster LA1

Strapline

Auction Sale - 21/04/2026 - To book viewings, view the legal pack and register to bid please refer to the full sales particulars on the Savills Auctions website. -

Freehold Shop Investment located on Penny Street, an established trading location in Lancaster. Let on a lease expiring 2032 at £32,000 per annum

Description

The property is arranged over basement, ground and three upper floors to provide a cafe with ancullary accommodation.

Location

The property occupies a prime position on Penny Street, Lancaster’s principal pedestrianised retail pitch, in the heart of the city centre. Penny Street is the main shopping thoroughfare, linking Market Street and Cheapside, and benefits from consistently high footfall. The surrounding area comprises a strong mix of national and independent retailers, cafés and service occupiers, with Lancaster Castle, the Market Square and The Storey all close by.

Nearby occupiers include Clarks and Ernest Jones (both adjacent), Vision Express (opposite), Holland & Barrett, Santander, Halifax and jd Sport amongst others.

Transport

Rail - Lancaster Railway Station is within walking distance, providing direct services to Preston, Manchester and London Euston.

Road - The city is well connected by road via Junctions 33 and 34 of the M6 motorway, offering access throughout the North West.

Bus - Lancaster city centre also benefits from a comprehensive local and regional bus network, with stops located close to the property.

Tenancy

Let to R Nangial on a full repairing and insuring (Fri) lease for a term of 10 years from 16 August 2022 at £32,000 per annum.

(1)The lease provides for a tenant break option and rent review at the 5th anniversary

Accommodation

Ground - 77.5 sq m (834 sq ft)

First Floor - 50.9 sq m (548 sq ft)

Second Floor - 37.4 sq m (403 sq ft)

Third Floor - 22.7 sq m (244 sq ft)

Basement - 58.6 sq m (631 sq ft)

Total - 247.1 sq m (2,660 sq ft)

N.b. Floor areas sourced from