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Primrose House, Primrose Street, Darwen, BB3 2DE

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      Location

      The property is situated at the bottom of Primrose Street, in a mixed industrial / residential area to the south east of Darwen town centre.

      Primrose Street connects to Ratcliffe Street, which in turn links with Sudell Road, providing access to the A666 Bolton Road, the main road linking Darwen with the M65 motorway, approximately 2 miles to the north.

      The property is bounded by Primrose Mill to the north, residential property to the south and east and the main line railway from Blackburn to Manchester to the west.

      Description

      The property comprises a detached, predominantly single storey former light industrial workshop, which has been converted to provide a childrens nursery.

      The property is constructed of brick built walls under a pitched tiled roof, incorporating 5 dormer windows.

      The accommodation on the ground floor provides a series of rooms currently used for education / care of pre school children.

      In addition, there are ancillary WC facilities, kitchen, reception and offices.

      At first floor level there are staff room and office facilities.

      Externally, to the front is a brick paved parking area and to the rear an enclosed play area

      Accommodation

      We have calculated the net internal area of the premises to be 2,626 sq.ft

      Price

      Offers in excess of £300,000 are sought for the freehold interest

      Tenure

      Understood to be freehold

      Lease Terms

      The property is currently let to Primrose Street Trading Ltd. for a period of 10 years from 1st January 2017 at a rent of £18,750 pa. The lease is held on FRI terms and incorporates an upward only rent review on the fifth anniversary. A copy of the lease is available once a party has inspected the property and confirmed a genuine interest.

      Rating

      The property has a rateable value of £17,000, with rates payable anticipated to be in the region of £8,500. Further details on request.

      EPC

      An EPC is available on request

      VAT

      To be confirmed

      Services

      It is understood that all mains services are available to the property

      Investment Yield

      Based on a purchase price of £300,000, the current rent equates to a yield of 6.05%. However, there are opportunities to increase this return on the rent review in January 2022.

      Viewing

      This is an operating childrens nursery and therefore no inspections should take place without prior consent of the marketing agent.

      Taylor Weaver
      (Neil Weaver)
      01254 699030
      [email protected]