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Retail Property (high street) for sale

11 & 11a Church Street

POA

Property Description

Key features

  • Established town centre location
  • Situated nearby a mix of independent and multi-national occupiers
  • Ground floor and basement only
  • Fully let retail investment property
  • Free town centre parking nearby
  • Producing a net rental of 14,251 per annum
  • Pleasant village setting
  • Representing a net initial yield of 9.3%

Full description

LOCATION
Barnoldswick is a Town in Lancashire situated near the county border with North Yorkshire and lies just outside the Yorkshire Dales National Park and The Forest of Bowland.
There are excellent road links to the Town Centre with easy access available from the M65, A65 and A59. Nearby Towns include Skipton, Clitheroe, Burnley and Keighley.
The properties themselves are situated on Church Street in the Town Centre which is made up of a healthy mix of local independent retail shops and some multi- nationals, such as Barclays Bank Plc, William Hill Bookmakers, Yorkshire Bank and Lloyds Bank.
DESCRIPTION
The accommodation consists of 2 retail units arranged over ground floor and basement only. The units are fitted out to a good standard, pertinent with each Lessee’s business. The basement is expansive and accommodate a storage facility, a single WC and water and electric meters.
ACCOMMODATION
In accordance with the RICS Code of Measuring Practice, (6th Edition), and accordingly we have calculated the following approximate Net Internal Areas:-
Sq M Sq Ft
11 Church Street (Ground Floor) 47.11 507
11a Church Street (Ground & Basement) 191.59 2,062
Total 238.70 2,569
SERVICES
We understand that the mains services connected to the property are water supply, electricity supply, and of course, mains drainage.
Please note that Lamb & Swift Commercial have not tested any of the service installations or appliances connected to the property and are therefore unable to comment upon their adequacy or condition.
BUSINESS RATES
11 Church Street - Rateable Value
£4,750 (2010 Rating List)
11a Church Street - Rateable Value
£6,600 (2010 Rating List)
OCCUPATIONAL TENANCIES
11 Church Street
Let to Suzanne Honeyman on effective Full Repairing and Insuring terms for a term of 3 years dated 1st July 2014. The passing rental is £6,000 per annum.
11a Church Street
Let to Mustaf Salih Ahmed for a term of years commencing on 30th October 2015 and ending on 21st June 2016. The passing rental is £7,500 per annum.
PARKING SPACES
The flats above the shops, leases 4 x car parking spaces by way of a 192 year lease from 1st January 2007. The passing rental for the 4 spaces is £751 per annum.
Total Net Income: £14,251 per annum.
SALES PRICE
£150,000 representing a NIY of 9.3%.
VAT
VAT may be applicable, and if so, will be charged at the prevailing rate.
EPC
We have commissioned and lodged an EPC for this property, and a copy of the EPC and Report will be made available upon request.
LEGAL COSTS
Each party are to be responsible for their own legal costs involved in the transaction.
VIEWING
Strictly by appointment with sole agents,
LAMB & SWIFT COMMERCIAL:
Contact: Nick Swift or Daniel Westwell

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