Mixed Use for sale

Convenience Store, Netherfield Road, Nelson, BB9 9QL

7,104 sq. ft. | £575,000

Property Description

Commercial information

  • 7,104 sq ft (659 sq m)

Key features

  • Detached Convenience Store/office investment
  • 68% Let to One Stop Stores Ltd until August 2030
  • Attractive average yield before costs of 7.8%
  • Modern buildings constructed in 2003 dedicated on-site car park

Full description

LOCATION
The property in prominently situated on Netherfield Road on the fringe of Nelson town centre. The railway station, new bus station and town centre are within a quarter of a mile of the site.

Nelson is in the Borough of Pendle and has a population of 29,135 in 2011 it is four miles north of Burnley and also connects with the towns of Blackburn and Preston via the M65 motorway.

Other businesses in the immediate vicinity include Farmhouse Biscuits, Travis Perkins, North Valley Metals and a BP petrol filling station.


DESCRIPTION
A detached purpose built convenience store and self-contained office facility located on the outskirts of Nelson Town Centre in the Borough of Pendle.

The property is of portal frame construction and was built around 2003 and comprises of an open plan convenience store on the ground floor with loading at the side. There is also a quality first floor self-contained office comprising of several air conditioned glazed offices with male and female W.C. facilities and a kitchen.

To the front of the property there is a car park further details of which can be provided on request.


TENANCIES
The convenience store is let to One Stop Stores Ltd on a 25 year lease from the 30th of August 2005 at a current annual exclusive rent of 30,850 per annum.

The first floor self-contained office is let to a sole trader, Mr Ernie Buksh trading as Intergrationale Care on a new 3 year lease from 28th of November. The rent in year 1 is 13,000, year 2 14,000 and year 3 15,000.

The total annual income for 2016 is 43,850 + VAT.
The total annual income for 2017 is 44,850 + VAT.
The total annual income for 2018 is 45,850 + VAT.

Both tenancy agreements are available from our office on request.


RENT REVIEW
The lease in respect of the ground floor is to be reviewed every fifth year of the lease with the next review date being in 2020 and thereafter in 2025.


TENURE
We are informed that the site is freehold and not subject to any ground rent.


ACCOMMODATION
The accommodation has been measured on a gross
internal basis and extends to the following approximate
areas:

Unit One Stop Stores Ltd - 3,552 sq ft - 330 sq m
Unit First Floor Offices - 3,552 sq ft - 330 sq m
GIA - 7,104 sq ft - 660 sq m


PURCHASE PRICE
575,000 + VAT.

The yield before purchaser's costs in 2016 is 7.62%.
The yield before purchaser's costs in 2017 is 7.8%.
The yield before purchaser's costs in 2018 is 7.97%.


COSTS
Each party is to be responsible for their own costs incurred in this transaction.


VIEWING
For further information or to arrange a viewing please
Contact:
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

Nearest stations

  • Nelson (0.2 mi)
  • Brierfield (1.4 mi)
  • Colne (1.7 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.

Floorplans


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

  • Nelson (0.2 mi)
  • Brierfield (1.4 mi)
  • Colne (1.7 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 ConvenienceStoreNetherfieldRoadNelsonBB99QL. 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.

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