Commercial Property for saleHoneywell Lane, Oldham
Offers in Region of 24,000 sq. ft. | £550,000
- 24,000 sq ft (2,229 sq m)
DOUBLE STOREY MILL
CURRENT TOTAL GROSS INCOME £40,800 PER ANNUM
Location: - The property is located on Honeywell Lane which runs off Ashton Road (A627) in Oldham. In the immediate vicinity there is a mix of - Mill and Industrial premises together with residential Terraced Housing. Oldham town centre is around 1 mile to the North whilst junction 22 of the M60 Motorway is approx 2 miles South West.
Description: - The property comprises a double storey mill consists of brick construction beneath a flat concrete roof. The accommodation is split over upper ground floor which is currently Let to a glazing company and lower ground floor which has been split into 4 separate units, which are also all currently Let to Car repair style businesses.
Accomodation: - Measured on a gross internal basis in accordance with RICS code of Measuring Practice the property has a an overall area of approx 21,740 SQ FT.
Income/Lease: - We have been informed that the tenants are in occupation on an informal basis . We understand tenants pay their own business rates & services (gas electricity & water) and the Landlord deals with all the external maintenance and repairs. We are informed that the rents are as follows:
Upper Ground Floor - £1,000 pcm (£12,000 per annum)
Lower Ground Floor Unit 1 - £600 pcm (£7,200 per annum)
Unit 2 - £700 pcm - (8,400 per annum)
Unit 3 - £600 pcm - (7,200 per annum)
Unit 4 - £500 pcm - (£6,000 per annum)
Total gross income - £40,800 per annum
Purchase Price & Yeild - Offers in the region of £550,000. This reflects a net initial yield of 7.01% after purchasers costs of 5.8%.
Vat: - All prices rents and outgoings are exclusive of but maybe liable to VAT.
Epc: - Copies of the EPC's are available on request.
Viewing: - If you would like to view this property or would like further information please contact the Sole Agents:
Roger Hannah & Company
14 St. Marys Parsonage
Tel: 0161 817 3399
Fax: 0161 817 3398
All our properties can be viewed on the internet at www.roger-hannah.co.uk.</fontcolor>
Location Plan: -
Roger Hannah & Co Ltd act as agents for the vendor(s) or lessor(s) of this property and gives notice that: (i) The particulars are a general outline only for the guidance of intending purchasers or lessors and do not constitute an offer or contract (ii) All descriptions are given in good faith and are believed to be correct, but any intending purchasers or lessees should not rely on them as statements of fact and must satisfy themselves by inspection or otherwise as to their correctness. (iii) None of the buildings services or service installations have been tested and are not warranted to be in working order. (iv) No employee of the two agents has any authority to make or give any representation or warranty whatever in relation to the property. (v) Unless otherwise stated all prices are quoted exclusive of VAT. (vi) Where applicable an Energy Performance Certificate is available upon request.
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