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73 Bank Street & 4 Baldwin Buildings, Rawtenstall, BB4 7QN

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      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 properties are located on Rawtenstall main high street 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 open plan and is currently used as nail salon who have been trading since March 2021. Full lease details are available on request.

      The upper floor consists of a 2 separate apartments. Firstly 73a Bank Street is a 2 bedroom flat with an open plan, lounge / diner which leads onto a country kitchen. This tenant occupies on an AST paying an annual rent of £6,000 per annum.

      4 Baldwin Buildings is located at the rear of the property and consists of a 2 bedroom apartment, 1 bathroom and open plan kitchen and dining space. This property is also let on a AST and generates £5,400 per annum.

      Price

      £285,000 + VAT

      Tenure

      Freehold

      Rating

      As published by the VOA online, the ground floor has a rateable value of £9,700 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.

      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

      73 Bank Street (Ground floor Retail) - Let to a sole trader on a lease expiring March 2028. Tenant only option to break March 2024 & 2027. Upward only rent review March 2024 & 2027. Producing £12,000 per annum.


      73a Bank Street (Residential) - Let on AST producing £6,000 per annum.


      4 Baldwin Buildings (Residential) - Let on AST producing £5,400 per annum.

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      Strictly through agents
      Taylor Weaver
      01254 699030
      (James Taylor)

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