- FOR SALE - Office and residential investment opportunity
- Offers over £450,000 + VAT (9.7% NIY)
- Producing total annual rent of £45,409 per annum
- Office accommodation let to secure tenant (Fashionmaster Ltd)
- Detached property with parking
Location
Corner Pin House is located fronting Bolton Road North close to the town centre of Ramsbottom. The property is located in a mainly commercial location directly adjacent to the popular Cuba Industrial Estate.
The property less than one mile from the M66 motorway providing good access into Greater Manchester and the wider national motorway network.
Description
The detached property was formerly a pub before it was comprehensively refurbished in the early 2000s. The property is stone built under a pitched slate roof and timber trusses and benefits from a large car park for up to 15 cars around the rear and side of the property.
The former pub was converted to create high quality office accommodation and a self-contained 2 bed apartment. Both aspects of the property have been well maintained and benefit from long standing tenants.
The building is arranged over ground and first floors with the ground floor offices predominately open plan and the first split into four smaller private offices / meeting rooms. The apartment is on the first floor and accessed via a private entrance from the rear of the property.
Accommodation
The office accommodation has been measured on a net internal area basis and is arranged as follows:
| Ground Floor | 1,340 sq. ft. |
| First Floor | 895 sq. ft. |
| Basement | 310 sq. ft. |
| TOTAL | 2,545 sq. ft. |
The apartment is a two bed property with open plan living room / kitchen. A floor plan is available upon request.
Price
Offers over £450,000 (+VAT)
Tenure
Freehold
Lease Terms
OFFICE LEASE -
The property is let to Fashionmaster Ltd on an 8-year lease expiring 8th October 2024 currently producing a net rent of £37,069 per annum +VAT.
The lease benefits from annual CPI linked rent reviews and is granted outside the security provisions of the Landlord & Tenant 1954 Act.
The lease is subject to a schedule of condition which is available on request.
Further details and a copy of the lease is available on request.
APARTMENT LEASE -
Currently let on a rolling AST generating a rental of £8,340 per annum.
Service Charge
The office tenancy is subject to a service charge which equates to 10% of the passing rental. This is payable in addition to the rental and reviewed & reconciled every year.
Rating
The property has a rateable value of £12,750. The payment of business rates is the responsibility of the tenant for the duration of their lease.
Legal Costs
Each party to be responsible for their own legal costs involved in this transaction.
Services
All mains services are connected. Both tenants are responsible for the payment of their own utilities.
Money Laundering Regulations
Please note we are now required to carry out customer due-diligence on all purchasers once an offer is accepted whereby we are required to obtain proof of identity and address of the prospective purchaser. On receipt of the information we will undertake an anti money laundering check via Smart Search.
Viewing
Strictly through agents
Taylor Weaver
(James Taylor)
01254 699030