- Northbridge House, Elm Street, Burnley
- 130 - 1,305 Sq ft
- See Accommodation Schedule.
- FOR SALE: Fully Let, High-Quality Mixed-Use Investment Opportunity
- 6 Premium Apartments: 4 x 2-bed, 2 x 1-bed
- 4 Separate Commercial Units: Retail and office spaces, all fully let
- Current Net Rent: £94,290 per annum (NO VAT)
- Producing net rent of £94,290 per annum (NO VAT)
- Price: £999,950 (9% NIY)
Location
Located in Burnley town centre, this property occupies a prominent corner position at Manchester Road and Hargreaves Street, the main approach into the heart of Burnley.
The area is a thriving mix of retail, office, and residential spaces, with established businesses nearby, including Virgin Money, Keenans Estate Agents, and Lloyds Bank, enhancing the property’s visibility and foot traffic.
Description
The property was fully renovated in 2020 by the current owners to produce a mix of extremely high specification retail/office uses on the basement and ground floors with six high quality apartments arranged on the first and second floors.
Ground Floor & Basement: 4 high-quality commercial units occupied by 3 tenants—a well-established care business and two beauticians. The basement, also finished to a high standard, serves as additional beauty space.
All of the commercial units are separately accessed / self contained and copies of the lease details can be found in the investment section within these details.
First & Second Floors: 6 luxury apartments, fully let, including four 2-bedroom and two 1-bedroom units. All apartments are finished to a modern standard with top-quality appliances and fixtures.
Floor plans are attached to these details.
Accommodation
We have measured the commercial units on ground and basement levels on a net internal area as follows:
| Unit 2 & 3 Manchester Road (Ground) | 593 sq. ft. |
| Unit 4 Manchester Road (Ground) | 355 sq. ft. |
| Unit 5 Manchester Road (Basement) | 581 sq. ft. |
| Unit 2 Hargreaves Street (Ground) | 550 sq. ft. |
| 2,079 sq. ft. |
Copies of the floor plans for all floors (including residential on the upper floors) are available.
Price
£999,950 (NO VAT).
Tenure
Freehold.
Rating
The commercial tenants are responsible for their own business rates. Further details are available on request.
Legal Costs
Each party is to be responsible for their own legal costs.
Services
All mains services with the exception of gas are available to the premises.
Money Laundering Regulations
Please note that we are now required to carry out customary due-diligence on all purchasers once an offer is accepted, whereby we are required to obtain proof of identity and proof of address of the prospective purchaser/tenant.
We will then undertake an AML check via Smart Search to comply with HMRC’s anti money laundering requirements.
Investment Details
The property is producing a net rental of £94,290 per annum. This reflects a net initial yield of 9% when allowing for purchasers cost of 4.75% and a price of £999,950. A copy of the tenancy schedule is attached to these details.
Viewing
Strictly via sole agent Taylor Weaver
James Taylor
Director
Tel: 01254 699 030