- FOR SALE
- Retail Investment in Accrington Town Centre
- 857 sq.ft
- Highly reversionary
- Prominently situated close to local amenities
Location
The premises is prominently situated fronting Bridge Street in an established retail area in Accrington town centre.
The property is located close to local amenities such as Tesco, the Town Hall and is surrounded by small local businesses
Description
The property comprises an attractive stone and brick built semi-detached property believed to have been built in the 1760s
Internally the premises comprises two rooms to the ground floor and two rooms to the first floor. It is currently being used as a photography studio
Externally on street parking is available in the immediate vicinity and there is also a garage which provides one space.
Accommodation
The net internal area of the property is as follows:
| Size | ||
| Ground Floor | Reception | 190 sq.ft |
| Studio | 235 sq.ft | |
| Back Room | 103 sq.ft | |
| First Floor | Room 1 | 140 sq.ft |
| Room 1 | 179 sq.ft | |
| Total | 847 sq.ft |
Price
£48,000
Tenure
Understood to be freehold
Lease Terms
The property is let by way of a new 3 years lease at a rental of £2,700 per annum from the 31st May 2024.The lease is held on FRI terms subject to a schedule of condition. Further details are available on request.
Rating
The property has a rateable value of £3,950 and therefore it is anticipated that eligible businesses are able to claim small business rate relief. Further details on request.
EPC
An EPC is available on response
Legal Costs
Each party to be responsible for their own legal costs
VAT
It is understood that VAT is applicable at the prevailing rate
Services
It is understood that all main services, with the exception of gas, are connected to the property.
Anti Money Laundering Requirements
Please note we are now required to carry out customer due diligence on all purchasers once an offer is accepted, whereby we are required to obtain proof of identity and proof of address of the prospective purchaser.
Investment Information
Based on the current rental and purchase price the yield for the property is 6%
However we feel that this is a low rental for a property in this location and based on its specification therefore it is anticipated that a higher rental can be generated on renewal or with vacant possession.
Viewing
Strictly through agents
Taylor Weaver
(Rebecca Weaver)
01254 699030