1-9a The Picture House, George Street, Ribble Valley, Whalley, Lancashire, BB7 9TH

FOR SALE- Upon the instructions of the Receivers. Mixed use investment opportunity with a total floor area of approx 19,809 sq ft



Description
The property is a former picture house that has been converted to provide
a prominent three storey mixed use property.

We are instructed to seek offers in excess of £3,750,000 for the freehold interest, STC. A purchase at this level reflects the following investment profile NIY of 4.50% and reversionary yield of 8.31%. This is after a 7.27% purchasers costs.

Location
The property is located in the centre of Whalley, a rural village in Lancashire. Whalley is an affluent suburb of Clitheroe, located 30 miles to the north of Manchester and 7 miles to the east of Blackburn and benefits from a variety of restaurants and bars, which serve a thriving night time trade.

Accommodation
To the ground floor are five retail units trading as a range of uses to include a Cafe and Spar. There are three commercial spaces at first floor and 7 self contained flats to both first and second floor.

Externally, the property benefits from a surfaced car park accessed from George Street with 18 parking spaces and 7 of these allocated for the residents of the apartment.

Tenure
Freehold

Tenancies
Current passing rent of £181,200 PA
Potential rental uplift to £334,328 PA once fully let
See brochure for breakdown