- FOR SALE BY AUCTION
- Town Centre Retail Investment Opportunity
- 3,117 sq ft plus basement of 1,293 sq ft
- Prominent main road location
- Well let investment opportunity
- Competitively priced for early sale
Price: Guide Price Offers In Excess Of £190,000
The property occupies a prominent main road position with frontage to the A666 in the centre of Darwen, surrounded by a number of local, regional and national retail occupiers, including Santander Bank, Iceland, Co-op Travel and Boots the Chemist. In addition, the property is a short walk from Darwen Town Hall and Market Hall complex.
The property comprises a substantial mid terraced retail premises with ancillary retail/storage accommodation on the first and second floors. It is constructed of stone built walls to the front and gable elevations. To the rear the wall has been rendered under twin bay pitched tiled roof, which replaced the original roof a couple of years ago. To the rear of the premises is a former yard area which has been converted to provide parking for 5 vehicles, together with access to the basement storage area. At ground floor level the accommodation has been sub-divided and is now occupied by a firm of solicitors (number 6a), and an estate agent (7), with the first floor providing space for a small dress agency (6b) and the top floor accommodating a bric-a-brac/collectables retail shop (6c).
We have calculated the net internal area of the premises is as follows :
6a (Acklam Bond solicitors)-Ground Floor
- Sales area 318 sq.ft
- Office/interview room 82 sq.ft
- Store 46 sq.ft
- Rear office 115 sq.ft
- Kitchen/WC 78 sq.ft
7 (Your Move estate agents)-Ground Floor
- Sales area 578 sq.ft
- Store 61 sq.ft
- Office 122 sq.ft
- Kitchen/WC/Amenity 182 sq.ft
- Basement stores 356 sq.ft
6b (occupied by the dress agency)-First Floor
- Sales 470 sq.ft
6c (occupied by the bric-a-brac/collectable shop)-Second Floor
- Room 1 325 sq.ft
- Room 2 166 sq.ft
- Room 3 83 sq.ft
- Room 4 135 sq.ft
- WC area
Basement accessed from the rear 1,239 sq.ft
It is understood that all mains services are available to the premises and that each part of the premises has its own separate services.
From the Valuation Office Agency rating list, as published on the internet, we are advised that each part of the premises is rated separately and assessed as follows : 6a - £7,400 rateable value 6b - £6,900 rateable value 6c - £2,025 rateable value 7 - £9,000 rateable value We have been unable to identify a rateable value for the basement area. Given that the rateable values are below the threshold for small business rate relief (£12,000 RV), it is possible that the tenants would be able to claim rate relief.
The property is subject to the following tenancies : 6a Market Street, Darwen Lease dated 1st April 2014 for a period of 6 years. Let to tenant Acklam Bond Solicitors at a rent of £7,000 per annum. 6b Market Street Currently occupied on an internal repairing basis on an informal agreement at a rent of £1,820 per annum, including buildings insurance 6c Market Street Currently occupied on an internal repairing basis on an informal agreement at an annual rent of £1,820 per annum, including insurance 7 Market Street Let to Your Move.co.uk Ltd. on the basis of a 5 year lease from 2016 at a rent of £11,500 per annum. The gross rent generated from the premises is therefore £22,140 per annum, however this could be increased by letting the basement area (projected rent circa £4,000 per annum) and negotiating with the occupiers on the first & second floors that currently have informal agreements. Full details on request.
An EPC is available upon request
The property has been placed in the Pugh & Co auction which takes place on the 17th April 2018 at the AJ Bell Stadium Manchester
Guide Price Offers In Excess Of £190,000
Strictly through agents Taylor Weaver (Neil Weaver) 01254 699030 or Pugh & Co (David Hodgkinson) 08442 722 444