2 bedroom retail property (high street) for sale

4 - 6 Buckley Lane, Farnworth

64 sq. m. | £95,000

Property Description

Commercial information

  • 688 sq ft (64 sq m)

Key features

  • Prominent position fronting busy main road and traffic light junction
  • Located on fringes of Farnworth town centre opposite Tesco Superstore
  • Ground floor let on FRI lease terms at 6,600 per annum
  • Spacious self-contained first floor flat producing 410 pcm (4,920 p.a)
  • Opportunity to acquire mixed use investment property
  • Gross income of 11,520 per annum

Full description

DESCRIPTION
The subject property comprises a traditionally constructed pavement fronted end of terraced property arranged over ground and first floor levels and extending to 44.15 sq m (474 sq ft) across the ground floor, plus a large self contained two bedroom flat above.

The retail shop is let as a sun-bed shop. The ground floor shop accommodation benefits from three large display windows and is predominantly open plan. There is a storage and kitchenette to the rear and a single WC. The shop is heated by way of Dimplex electric panel heaters.

The first floor flat is self-contained. The accommodation consists of two good sized bedrooms, bathroom, lounge and kitchen. It is presented well and appears to be well maintained by the existing Tenant who has been in occupation for a number of years. The flat is heated by way of gas central heating to panel radiators.

There is a small enclosed yard at the rear, which forms part of the ground floor Tenants demise.

LOCATION
The subject property is located prominently at the traffic light junction of Buckley Lane (A502) and Albert Road (A575) in a mixed use area of Farnworth.

Directly opposite the property there is a Farnworth Tesco Superstore together with a number of other local traders nearby. The majority of the property nearby is of residential use.

Farmworth town centre is approximately 0.75m North whilst the property benefits from excellent transport links to the A666 St Peters Way and in turn, the national motorway network.

ACCOMMODATION
In accordance with the RICS Code of Measuring Practice (6th Edition), we have calculated the following approximate Net Internal Areas:

Ground floor retail unit 64 sq m (689 sq ft)
* plus self contained 2 bed flat above

RATES
Rateable Value: £5,800 (2017 Rating List) - Ground floor

The Standard Uniform Business Rate for the 2017/2018 Financial Year is 0.479 pence in the £, or £0.466 pence in the £ for qualifying small businesses.

Qualifying Small Businesses will however benefit from 100% rates relief. Interested parties are advised to verify this information direct with the local rating authority
.
First Floor: Council Tax Band A

LEGAL COSTS
Each party to be responsible for their own legal costs involved in the transaction.

TENANCY DETAILS
First floor flat

Flat let to a private individual who is presently holding over and who has been in occupation for a number of years. The passing rental is £410 per calendar month (£4,920 per annum)

Ground floor shop

Let to a private individual by way of a 3 year FRI lease at £6,600 per annum expiring in August 2020. A copy of the lease is available on request.

SALE PRICE
£95,000 exclusive representing a Net Initial Yield of 11.91%, assuming standard purchasers costs. There is no stamp duty payable at this level.

EPC
An EPC has been commissioned and a full copy of the Report can be made available upon request.

SERVICES
We understand the ground and first floors to have separate services. The mains services connected include water, gas, electricity 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.

VAT
VAT is not applicable.

VIEWING
Strictly by appointment with sole agents, LAMB & SWIFT COMMERCIAL.
Contact: Daniel Westwell or Andrew Kerr


More information from this agent

Nearest stations

  • Farnworth (0.7 mi)
  • Moses Gate (0.9 mi)
  • Kearsley (1.1 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Lamb & Swift Commercial, Bolton

179 Chorley New Road Bolton BL1 4QZ

01204 299115 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Map & Street View

Nearest stations

  • Farnworth (0.7 mi)
  • Moses Gate (0.9 mi)
  • Kearsley (1.1 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Lamb & Swift Commercial, Bolton

179 Chorley New Road Bolton BL1 4QZ

01204 299115 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

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