- FOR SALE- Town Centre retail and residential investment
- Fully Let
- Producing total annual rent of £17,360 p.a. + VAT
- Available immediately
- Commercial lease expiry June 2024
- Opposite Rawtenstall bus station and Post Office
Location
Rawtenstall is an established market town in the Rossendale Valley, with excellent access to the Greater Manchester conurbation and the East Lancashire towns of Blackburn, Accrington and Burnley via the A56, which connects to the motorways to the north and south.
The property sits adjacent to Rawtenstall town centre bus station so footfall past the shop is high. Parking is available on the street outside the premises and there is also a large public car park to the rear.
Description
The ground floor retail unit is fully open plan with kitchen and WC facilities located at the rear. The property also benefits from a dry basement which would be suitable for storage. There is an electric roller shutter fitted at the front of the property.
The ground floor retail shop is currently used as bakery who have been trading since June 2021.
The upper floor (24a Kay Street) is a 2 double bedroom flat arranged over 3 floors. This tenant occupies on an AST paying an annual rent of £6,360 per annum.
Price
£210,000 + VAT
Tenure
Freehold
Rating
As published by the VOA online, the ground floor has a rateable value of £5,400 however this is the responsibility of the tenant and they benefit from small business rates relief.
Planning
The ground floor benefits from Use Class E planning permission.
Legal Costs
Each party to be responsible for their own legal costs.
VAT
VAT is applicable to figures quoted in these particulars
Services
Tenants are responsible for the payment of all utilities for the duration of their tenancies.
All mains services are connected to the property.
Investment Details
24 Kay Street (Retail) - Let to Aprilla Ltd on a 3 year lease from June 2021. No breaks for the duration of lease. Producing £11,000 per annum.
24A Kay Street (Residential) - Let on AST producing £6,360 per annum.
Viewing
Strictly through agents
Taylor Weaver
01254 699030
(James Taylor)