- FOR SALE - 7,426 sq ft restuarant / office investment
- £950,000 (Equating to net yield of 10.96% assuming purchasers costs of 5.63%)
- Currently producing £110,000 pa on 10 year lease from March 2018
- Excellent location in Rawtenstall town centre
- 100 plus shared car parking spaces available on site
Price: £950,000 (Equating to net yield of 10.96% assuming purchasers costs of 5.63%)
The property is situated on the edge of Rawtenstall town centre in a prominent position on New Hall Hey Road, just off Bury Road. This is an established business district, close to Hardman's Mill Business Centre and Rawtenstall's railway station.
The building contains a mix of multi let offices on the upper floors and ground floor retail. The office suites are separately accessed and have been refurbished to a good standard throughout and include shared kitchen and WC facilities. The ground floor is occupied by the Fire Pit Restaurant, which is a good quality restaurant that has been trading since 2014. Floor plans are available on request.
The accommodation is arranged as follows:
|Ground Floor (Restaurant)||3,000 sq.ft.||280 sq.m|
|1st Floor (Offices)||1,950 sq.ft.||181 sq.m|
|2nd Floor (Offices)||2,476 sq.ft.||230 sq.m|
|TOTAL||7,426 sq.ft.||690 sq.m|
It is understood that all mains services are available to the premises.
Station House is let on FRI terms to The Village Stores (Helmshore) Ltd. (trading as Fire Pit Restaurant) for a period of 10 years from 1st March 2018 with no break clauses. The lease also benefits from a guarantor. Full details on request. The current rent passing is £110,000 per annum. Rent reviews in years 3, 6 and 9 of the lease. A copy of the lease is available on request.
An Energy Performance Certificate is available on request.
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 understood to be held on a freehold basis.
£950,000 (Equating to net yield of 10.96% assuming purchasers costs of 5.63%)
Investment is available for immediate purchase
Each party to be responsible for their own legal costs.
STRICTLY THROUGH AGENTS Taylor Weaver (James Taylor) Telephone 01254 699030