- FOR SALE - £375,000 (no VAT)
- Mixed use industrial and part residential site
- Available with vacant possession or as an income producing investment
- Currently producing £40,580 per annum. (Further details on request)
- Site Area 0.4 Acres
- Development potential
- Suitable for various uses
- Available immediately
Price: £375,000 (no VAT)
The properties are located on the corner of Green Lane and Stockbridge Road, a short walk from Padiham town centre. The surrounding area is a mix of commercial uses and high density residential housing. Junction 10 of the M65 motorway is approximately 2 miles away from the subject premises.
The site comprises four individual buildings, which are all being sold as one lot. Unit 1 Green Lane: 8,709 sq.ft arranged over ground, first and second floors. (2,903 sq. ft. per floor) There is a goods lift which serves all floors and 3 phase electric. The property has had a completely new roof installed in 2018 so is in good condition. This unit may suit development (subject to planning). Access to this unit is via an electronically operated roller shutter door on the gable end and also a pedestrian entrance door on the gable end fronting Stockbridge Street. Unit 3 Green Lane: Single storey workshop extending to 1,975 sq. ft. The property has most recently been used as a mechanics workshop / car breakers. The property benefits from 3 phase electricity and has an open plan layout. The unit benefits from its own designated yard. This unit has been found to be in a relatively poor state of repair with access via an electronically operated roller shutter door. The entrance is shared off Stockbridge Road with Whitegate Motors. Further details of this arrangement are available on request. 7 Green Lane: Two bed residential property has been found to be in relatively good condition. Floor plans are available on request. Currently let on AST. 9 Green Lane: Two bed residential property which is currently let on a assured shorthold tenancy. Further details of this tenancy are available upon request.
The accommodation for the various buildings are arranged as follows :
|Unit 1 Green Lane||Ground floor||2,903 sq.ft (269 sq.m)|
|First floor||2,903 sq.ft (269 sq.m)|
|Second floor||2,903 sq.ft (269 sq.m)|
|Unit 3 Green Lane||Single storey workshop||1,975 sq.ft (183 sq.m)|
Both 7 and 9 Green Lane are both two bed semi-detached properties. Floor plans are available upon request
It is understood that all mains services, with the exception of gas, are available to the site.
Unit 1 Green Lane has a rateable value of £9,100. We have not been able to determine the rateable value of Unit 3 Green Lane. However, we anticipate that this property will be below the £12,000 threshold for business rates relief
Unit 1 Green Lane - Currently let to sole trader (builders merchants) producing £24,500 per annum. This tenancy expired in January 2021 and the tenant is currently holding over. Unit 3 Green Lane - Currently let to a sole trader (car breakers) producing £7,800 per annum. Lease expires October 2022 however vacant possession is available immediately if required. 7 Green Lane (Residential) - Let on AST at a rent of £395 pcm. 9 Green Lane (Residential) - Let on AST at a rent of £295 pcm. Total rent currently receivable - £40,580 per annum.
£375,000 (no VAT)
The property is available for purchase immediately
Each party to be responsible for their own legal costs involved in the transaction
Strictly through agents Taylor Weaver (James Taylor) 01254 699030