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1-3 Palatine Buildings, Glebe Street, Great Harwood, BB6 7AA

Full Details

Price: £120,000 (no VAT). Assuming the first floor flat is let then this equates to a rental yield of 9.9% At this figure no stamp duty will be payable

Location

The premises are located at the junction of Glebe Street and Curate Street in the centre of Great Harwood. Neighbouring occupiers include local wine bars, Original Factory Shop and Town Hall Chambers.

Description

The premises comprise an end terraced attractive two storey stone built property with pitched slate roof supported on timber roof trusses. The ground floor comprises a retail area of 546 sq.ft together with ancillary storage toilets and kitchen and basement below. A cash point is built into the property. In addition there is self contained first floor two bedroom flat, which includes kitchen , lounge, 3 piece bathroom , 2 bedrooms , stores room and yard area.

Accommodation

We have calculated the floor areas to be as follows:

Ground floor

retail area  546 sq.ft.

Rear stores / staff room / wc / boiler room 399 sq ft

Basement 390 sq ft

First floor flat  679 sq ft

 

Services

All mains services are connected to the property.

Rating

The ground floor retail area has a rateable value of £6,000 and therefore qualifying occupiers would not be liable for business rates.

Lease Terms

The ground floor tenant trades a Post Office by way of a 10 year lease from November 2016 at a current rent payable of £8,000 per annum. The rent is fixed for the remaining period of the term. The tenant occupies on full repairing and insuring terms and is responsible for the usual occupiers costs to include business and water rate ( if applicable) electricity and gas. The Post Office has a monopoly position within Great Harwood. The first floor flat is currently vacant, but has previously been let at a rental equating to £3,900 per annum ( £75 per week)

Price

£120,000 (no VAT). Assuming the first floor flat is let then this equates to a rental yield of 9.9% At this figure no stamp duty will be payable

Legal Costs

Each party to be responsible for their own legal costs involved in the transaction

Viewing

Strictly through sole agents Taylor Weaver (Alex Taylor) 01254 699030 alex@taylorweaver.co.uk