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Retail Property (out of town) for sale

362 Chorley Old Road

£140,000

Property Description

Key features

  • Fully let shop and flat investment
  • Producing 8,440 per annum
  • Mid-terraced property
  • Fronting busy main road
  • Popular and busy retail location
  • 140,000 exclusive

Full description

LOCATION
The subject property is prominently located fronting onto Chorley Old Road, close to its junction with Rushton Road and Ivy Road. The property is set back from Chorley Old Road with a paved forecourt area to the front, and is located within and form part of a reasonably prominent parade of similar secondary retailing uses.
There is also a similar parade of properties located directly across Chorley Old Road and the subject properties also lie in close proximity to the local Morrison’s Food Store. There is a pedestrian crossing positioned immediately to the front of the properties.
This is a mixed retail, commercial and residential area lying approximately 1.5 miles North of Bolton Town Centre.
DESCRIPTION
The subject property is a mid terraced retail property constructed of brick elevations under a pitched and slated roof covering.
Internally the accommodation comprises, at ground floor level, of the main retail/office area, which is open plan in nature. To the rear is a further room containing a store area and WC/amenity facilities. There is a staircase off the main entrance lobby which leads up to the first floor self contained flat.
The ground floor level has been fully refurbished and has majority plaster painted wall and ceiling finishes with fluorescent lighting and a carpet floor finish. There is a reasonably well fitted kitchen beyond the main office area, with WC facilities beyond that.
There is a staircase accessed from within the rear area which leads down to a basement cellar area which has been refurbished and provides for a number of compartmentalised office/storage rooms together with WC facilities.
ACCOMMODATION
We have measured the property in accordance with the RICS Code of Measuring practice (6th Edition), and accordingly we have calculated the following approximate Gross Internal areas:
Sq m Sq ft
Basement – Storage 56.30 606
Ground Floor – Office 34.00 366
Ground Floor – Kitchen/Rear Store 9.81 106
Ground Floor – WC 2.41 26
First Floor – Lounge 17.97 193
First Floor – Bedroom 13.29 143
First Floor – kitchen 6.62 71
First Floor – Bathroom 3.63 39
First Floor - Hall 9.73 105
TOTAL 153.76 1,655
SERVICES
From our enquiries, we understand that mains electricity, gas, water and mains drainage are connected to the property.
Please note that Lamb & Swift Commercial have not tested any of the service installations or appliances connected to the property.
BUSINESS RATES
We understand the ground floor and basement at 362 Chorley Old Road to have a Rateable Value under the 2010 Rating Assessment, under an entry for “Shop and Premises”, in the sum of £5,900 (2016/2017).
Interested Parties are advised to verify this information direct with the Local Rating Authority.
COUNCIL TAX
In respect of the first floor flat at 362 Chorley Old Road, this is assessed as a “Band A” property for Council Tax purposes.
Interested Parties are advised to verify this information direct with the Local Rating Authority.
OCCUPATIONAL LEASES
Ground Floor - Shop
Let to Mr Ian Murray t/as Oxbow Garden & Landscape Design for a term of 3 years from 14th May 2015. The passing rental is £3,640 per annum.
First Floor - Flat
Let to Mr Raymond Sharples for a term of 6 months from 15th April 2013 at a passing rental of £400 per calendar month (£4,800 per annum). The Tenant is presently holding over.
ASKING PRICE
£140,000 exclusive
LEGAL COSTS
Each party are to be responsible for their own legal costs involved in the transaction.
VAT
VAT may be applicable and if so, will be charged at the prevailing rate.
EPC
An EPC has been commissioned and a copy of the Report can be provided upon request.
VIEWING
Strictly by appointment with sole agents,
LAMB & SWIFT COMMERCIAL.
Contact: David Isherwood, Daniel Westwell and Andrew Ker


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