Commercial Property Chartered Surveyors and Valuers

Blackburn Office01254 699 030

Chorley Office01257 204 900

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Investment - Railway House, Railway Road, Chorley, PR6 0HW

Full Details

Price: £695,000

Location

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.

Description

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.

Accommodation

The net internal area of the property totals 6,813 sq.ft.

Services

All mains services are connected to the premises

Rating

Each suite has been separately assessed and tenants are responsible for payment of their own business rates. Full details available on request.

Lease Terms

The building is let to a number of different tenants on varying lease terms, producing a combined net rental of £66,806 per annum. The gross rental received (inclusive of service charge and building insurance) is £89,903 per annum. A full tenancy schedule is available on request.

Investment Details

At a purchase price of £695,000, this equates to a net initial yield of 9.13%, assuming acquisition costs of 5.29%

EPC

An Energy Performance Certificate is available on request

VAT

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

Tenure

The property is held on a freehold basis.

Price

£695,000

Availability

The investment is available for immediate purchase

Legal Costs

Each party is responsible for their own legal costs

Viewing

Strictly through agents Taylor Weaver (James Taylor) 01254 699030