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Retail Property (high street) for sale

99 - 101 Railway Road

Under Offer £79,950

Property Description

Key features

  • Part income producing retail investment
  • Fringe of town centre location
  • Ground floor retail unit with offices and stores above
  • May suit conversion in its entirety to residential use

Full description

LOCATION
The property is located fronting Railway Road, an established retail pitch on the fringes of Leigh Town Centre, close to a number of other shops, Town Centre Bus Station, Banks and Public Houses.
DESCRIPTION
The subject premises comprise two ground floor retail units plus substantial first floor accommodation. The property is a traditionally constructed period end of terrace building with ornate Victorian features. It is constructed of solid brick elevations set beneath a pitched and slated roof covering together with substantial two storey outrigger extension to its rear.
99 Railway Road consists of a self-contained ground floor retail shop with basement storage, which has recently been let to a Hairdressing Salon and is fitted out accordingly to a reasonable standard.
101 Railway Road is an extensive shop/office which requires a cosmetic uplift and ideally an internal reconfiguration, however, has potential to provide open plan accommodation suitable for a number of uses subject to planning permission.
At first floor level, the accommodation is extensive and consists of a number of cellular rooms with the advantage of a self-contained pedestrian entrance from Ullswater Street. The first floor (or even the building in its entirety) may suit a conversion to residential use, subject to gaining the relevant planning and building regulation consents.
ACCOMMODATION
In accordance with the RICS Code of Measuring Practice, (6th Edition), we have calculated the following Net Internal Areas:-
Sq M Sq Ft
99 Railway Road 165.50 1,781
101 Railway Road 231.67 2,494
Total 397.17 4,275
SERVICES
The mains services connected to the subject property include electricity supply, water supply and mains drainage.
Please note that Lamb & Swift Commercial have not tested any of the service installations or appliances connected to the property and that we are therefore unable to comment upon their adequacy or condition.
BUSINESS RATES
99 - 101 Railway Road is assessed for Business Rates purposes as follows:-
99 Railway Road - £3,700 (Ground and Basement)
101 Railway Road - £5,700 (Ground and First Floor)
For qualifying occupiers will benefit from 100% Business Rates Relief on both heriditaments.
TENANCY
99 Railway Road (Ground floor and Basement only) is let to a private individual from and including the 8th October 2014 to and including 7th October 2017. The passing rental is £3,950 per annum. There are no breaks or rent reviews. A copy of the lease is available on request.
ASKING PRICE
Offers in the region of £79,950.
VAT
VAT is not applicable.
EPC
We have commissioned and lodged an EPC for this property, and a full copy of the Report can 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.
Contact: Daniel Westwell, Andrew Kerr

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