Property Details: • Type: 1,362 sq ft • Tenure: N/A • Floor Area: N/A
Key Features: • FOR SALE • Fully Refurbished Retail Investment • 1,362 Sq.ft • Ideal Investment Opportunity • Prominent main road position • Popular Ribble Valley location
Location: • Nearest Station: Clitheroe Station • Distance to Station: 0.3 miles
Agent Information: • Address: Unit 17, Trident Park, Trident Way, BB1 3NU
Full Description: Fully Refurbished Retail Investment Opportunity Popular Ribble Valley location Attractive Investment Return Prominent main road position Location The property is located fronting Moor Lane within Clitheroe town centre.
Moor Lane is one of the main retailing high streets in Clitheroe with the subject property occupying a prominent position.
Surrounding retailers include a number of local businesses together with more established occupiers including Sainsburys, The Emporium Restaurant and Edinburgh Woollen Mill.
Description The property comprises a refurbished three storey premises (plus basement) with retail accommodation on the ground floor and ancillary office/beauty/residential accommodation on the first and second floors.
It is constructed of stone built walls under a pitched slate roof which incorporates a dormer window.
To the rear of the premises is an enclosed yard.
Accommodation We have calculated the areas to be as follows:
Ground Floor Retail Area 533 sq.ft Additional sales/ changing room 91 Sq.ft First Floor Room 1 207 Sq.ft Bathroom 93 Sq.ft Kitchen/Office 121 Sq.ft Second Floor Room 1 182 Sq.ft Room 2 135 Sq.ft TOTAL 1,362 Sq.ft
Price £344,950
Tenure To be confirmed but understood to be freehold.
Rating The property has a current ratable value of £11,750, which would enable eligible occupiers to benefit from small business rates relief.
EPC An EPC will be available on request.
Planning Retail uses will be permitted.
VAT To be confirmed.
Services It is understood that all mains services, with the exception of gas, are available to the property.
Money Laundering Regulations Please note that 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. We will then undertake an AML check via Smart Search to comply with HMRC's anti money laundering requirements.
Investment Return The tenant EQ Woman will enter in to a 5 year FRI lease (subject to a S of C)at a rent of £24,000 pa for the whole building from completion of the sale.
The lease would allow the subletting of the upper floors. The tenant would be responsible for the costs of occupation and business rates (if applicable)
Based on a purchase at £344,950 a rent of £24,000 pa would suggest a yield of circa 7%, ignoring acquistion costs.
Viewing Strictly via sole agent Taylor Weaver Neil Weaver MRICS Tel:
