- FOR SALE
- Multi Let Office Investment
- Total net internal area 6,478 sq ft
- Net rent received £55,836 pa
- 7.7% net initial yield (assuming purchaser's costs of 5.29%)
- Asset management potential
Railway House is located on Railway Road, close to Chorley town centre, and approximately one mile from Junction 8 of the M61 motorway. The property lies in a primarily residential area, on the edge of Chorley town centre, with a large amount of on site car parking.
The property comprises a two storey purpose built modern office building. The property has been split into a variety of small suites which are occupied by a number of tenants on varying lease terms (full tenancy schedule is available on request). The building benefits from a large car park and tenants benefit from shared amenities, such as WC facilities, meeting room, kitchen and reception area.
The net internal area of the property totals 6,478 sq.ft.
All mains services are connected to the premises
Each suite has been separately assessed and tenants are responsible for payment of their own business rates. Full details available on request.
The building is let to a number of different tenants on varying lease terms, producing a combined net rental of £55,836 per annum. The gross rental received (inclusive of service charge and building insurance) is £70,938 per annum. A full tenancy schedule is available on request.
At a purchase price of £695,000, this equates to a net initial yield of 7.63%, assuming acquisition costs of 5.29%
An Energy Performance Certificate is available on request
The property is VAT elected. However, it is anticipated that the transaction will be treated as a transfer of going concern (TOGC).
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 proof of address of the prospective purchaser
The property is held on a freehold basis.
The investment is available for immediate purchase
Each party is responsible for their own legal costs
Strictly through agents Taylor Weaver (James Taylor) 01254 699030