retail / residential investment premises in popular location.

45-47 Standish Street, Burnley, Lancashire

For Sale £190,000 Offers in the region of

Retail in Burnley

1756 Sq Ft

• Income producing investment comprising ground floor double fronted shop and a 3 bedroom first floor flat, let on a room basis.
• Current gross rental income of £18,900 per annum with potential income of £23,580 per annum once fully let.
• Popular trading position close to the new Pioneer Place Cinema complex, Charter Walk Shopping Centre, UCLan Burnley and Anchor Retail Park.

Description

A double fronted, two storey investment property comprising a ground floor shop and a three bedroom apartment to the first floor. The ground floor comprises an open plan, multi-level shop with a store room and WC facilities. The ground floor is let to an independent retailer by way of a 5 year lease commencing from 1st November 2024 at a current rent of £9,540 per annum. The lease incorporates a Tenant break clause and an open market rent review at the expiration of year 3. The first floor comprises a 3 bedroom apartment with shared kitchen / dining and bathroom facilities, currently let on a room basis. Two of the three bedrooms are let by way of Assured Shorthold Tenancy Agreements, producing a gross rental income of £90 per week each, offering the potential to achieve an attractive income of £23,580 per annum once fully let. Located in an excellent, high footfall position within close proximity to the town centre, the property has the benefit of roller shutter security and free on street parking directly adjacent.

Location

The property occupies a prominent corner position at the end of Standish Street, with excellent visibility from Active Way (A679), a busy main road adjacent to Anchor Retail Park and Pioneer Place. Standish Street is a popular trading location on the edge of Burnley town centre adjacent and within a short walk from Charter Walk shopping centre. There are a number of independent retailers in the vicinity and the property is within walking distance from REEL Cinema, Halfords, Sainsbury's and Burnley UCLan University.

Accommodation

Ground floor - 878 sq.ft (81.6 sq.m) First floor - 878 sq.ft (81.6 sq.m) Gross internal floor area 1756 sq.ft (163.2 sq.m)

Services

We are advised that the property has the benefit of mains electricity and water.

Viewing

Old Red Lion,
4 Manchester Road,
Burnley BB11 1HH.

Tel: 01282 456677
Email: [email protected]