Mill for sale

Skipton Road, Colne, Lancashire, BB8

43,689 sq. ft. | £1,400,000

Property Description

Commercial information

  • 43,689 sq ft (4,058 sq m)

Key features

  • Industrial investment property on 1.4 acre site
  • Three self-contained warehouse units and a telecoms mast generating an income of 104,750 per annum
  • Total square footage 43,688.9 sq ft (4058.8 sq m)
  • Popular market town close to Sainsbury's, Matalan, TK Maxx, Lidl and KFC

Full description

LOCATION
Greenhill Mill is located on Skipton Road which is close to North Valley Road and approximately a 5 minute drive from Junction 14 of the M65.

The Mill is positioned behind West Riding Hyundai and close to Sainsbury's Supermarket and David Fishwick Minibus Sales.

Colne is a market town in Lancashire 6 miles North East of Burnley, 25 miles East of Preston and 25 miles North of Manchester. Colne has a population of 18,806 (the 2011 census).


DESCRIPTION
Three independent warehouse units which have been tenanted for a number of years located in the popular market town of Colne in Lancashire.

All three warehouse units are accessed from a shared yard/car parking area to the front of the property which is laid in tarmacadam. The property has double gated access at both ends of the car park.

The three units are all of portal frame construction under an insulated clad roof. Externally there is a yard providing loading and car parking for approximately 20 vehicles.


ACCOMMODATION
The accommodation has been measured on a gross
internal basis (excluding toilets and corridors) and extends to the following approximate areas:

Unit 1 - 17,862.1 sq ft - 1,659.4 sq m
Unit 2 - 13,030.3 sq ft - 1,210.5 sq m
Unit 3 - 12,491.1 sq ft - 1,160.45 sq m
Substation - 305.5 sq ft - 28.4 sq m

GIA 43,688.9 sq ft - 4,058.8 sq m

We understand that the total site area is approximately 1.4 acres.

The accommodation has been measured on an approximate basis and the prospective purchaser must verify all measurements and satisfy themselves that the floor areas are correct.


BUSINESS RATES
The rateable values for each section of the investment property are as follows:
Unit 1: 41,975
Unit 2: 28,750
Unit 3: 26,250
Telecommunication Mast: 9,000

The total rateable value for the site is 105,975.


TENANCIES
Hutchinson 3G UK Limited have a telecommunication mast and have been on the site since the 23rd of August 2004 at a current annual rent of 8,750 per annum.

Unit 1 has been occupied by way of a lease assignment at a current annual rent of 45,000. The original lease was for a 12 year term and was signed on the 30th of September 2005.

Unit 2 has been occupied since the 1st of June 2010 on a 6 year lease at a current rent of 33,000 per annum. We understand these tenants are willing to sign a new lease further details of which are available from our office.

Unit 3 has been occupied since the 6th of June 2014 on a new 6 year lease. The current rent is 18,000 per annum for the first 3 years and 21,000 per annum for the remaining 3 years of the lease.

Electricity North West have a substation on site however we understand there is a dispute in respect of this rent and no income is currently being received.

We are verbally informed the whole site is currently generating a total income of 104,750 per annum. Prospective purchasers must verify the accuracy of this information with their solicitor prior to completion of the sale. Lease documentation is available for inspection at our Burnley office.


PURCHASE PRICE
1.4 Million.


VAT
We have been informed that the rents and purchase price are not subject to VAT at the prevailing rate.


SERVICES
We have been verbally informed of the following;
Electricity
Unit 2 has its own mains electricity meter and supply.
Units 1, 3 and the office are all sub-metered with the tenant of unit 1 receiving the electricity bill and re-charging the costs.
Gas
The gas is sub-metered with the mains supply entering unit 1 and the tenants of unit 1 again being responsible for the invoice and re-charging to each section.
Water
The surface water runoff which is based on the rateable value is invoiced directly to all three tenants.
The water consumption is paid by the Landlord and recharged to the tenants based on the floor area.


SERVICES RESPONSIBILITY
It is the prospective purchaser's responsibility to ensure the information supplied in respect of the services is accurate. The buyers must verify that all services are available, suitable for purpose and adequate for each tenants needs.


BUILDINGS INSURANCE
We have been verbally informed that the tenants are responsible for the buildings insurance which is paid by the Landlords and recharged to each of the tenants.


VIEWING
Strictly by appointment with the sole agents Whiteacres Property Limited.
Jonathan Wolstencroft
Tel: 01282 428486
Email: jonathan@whiteacres-property.co.uk
Web: www.whiteacres-property.co.uk


SUBJECT TO CONTRACT

More information from this agent

Energy Performance Certificates (EPCs)

Nearest stations

  • Colne (0.9 mi)
  • Nelson (2.8 mi)
  • Brierfield (4.0 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Whiteacres Property, Burnley

287 Manchester Road, Burnley, BB11 4HL

01282 934052 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

  • Colne (0.9 mi)
  • Nelson (2.8 mi)
  • Brierfield (4.0 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Whiteacres Property, Burnley

287 Manchester Road, Burnley, BB11 4HL

01282 934052 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.

Disclaimer - Property reference GreenhillMillSkiptonRoadColneBB80NX. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Whiteacres Property, Burnley. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.

Map data OpenStreetMap contributors.