98-100 BURNLEY ROAD AND 2, 2A HAPTON STREET, PADIHAM, BB12 8QN

Quick Summary

Property ID
5471
Category:
Investment
Area:
2909 sq ft
Location:
Padiham

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Property Description

OVERVIEW

For sale by the modern method of auction: Starting bid price £160,000 plus reservation fee. This property is for sale by the Lancashire Property Auction powered by “Iam-Sold”

LOCATION

The property is prominently situated on Burnley Road in the centre of Padiham being located within a row of occupants including hairdressers, sandwich shop, bookmakers and retail clothing.

ACCOMMODATION

98 Burnley Road

An inner parade ground floor retail property with serving area, behind which is a kitchen and WC. The property is of stone construction with a pitched slate roof.

Gross internal area: 25.9 sq.m     (278.72 sq.ft)

98a Burnley Road

A first floor flat accessed off Burnley Road. The flat comprises of a living room, kitchen, one bedroom and bathroom with a three piece suite. The property extends to 32.5 sq.m (349.7 sq.ft)

100 Burnley Road

An end of terraced shop with a display window to Burnley Road. The accommodation has recently been used as a money exchange but prior to that was used as a hairdressers. Internally there is a partitioned reception, a store and WC area.

Gross internal: 23.13 sq.m           (249 sq.ft)

2 Hapton Street

Accessed off Hapton Street, the property is a spacious two bedroomed flat with living room, kitchen and bathroom with a three piece suite.

The property extends to 47.19 sq.m (508 sq.ft)

2a Hapton Street

A ground floor one bedroomed flat accessed off Hapton Street with living room, kitchen and bathroom. The property extends to 34.23 sq.m (368.5 sq.ft)

TENANCIES

98 Burnley Road

The property is currently occupied as a sandwich shop. The tenant is currently holding over at a yearly rent of £6,240 (six thousand two hundred and forty pounds) per annum.

98a Burnley Road

The property is currently let by way of Assured Shorthold Tenancy at £4,200 (Four thousand two hundred pounds) per annum.

100 Burnley Road

The property is currently let by way of a lease for a two year term commencing 4 July 2016 at a figure of £6,360 (Six thousand three hundred and sixty pounds) per annum

2 Hapton Street

The property is currently let by way of an Assured Shorthold Tenancy at £4,200 (Four thousand two hundred) per annum

2a Hapton Street

The property is currently let by way of an Assured Shorthold Tenancy at £4,200 (Four thousand two hundred) per annum.

GROSS INCOME: £25,200 PER ANNUM

PLANNING

Enquiries should be made to Burnley Borough Council Planning & Estates 01282 425011.

SERVICES

We understand the property has the benefit of mains electricity, water and drainage.

SERVICES RESPONSIBILITY

It is the prospective purchaser’s responsibility to verify that all appliances, services and systems are in working order, and are of adequate capacity and suitable for their purpose.

BUSINESS RATES

Details available upon request.

LEGAL COSTS

Each party is to be responsible for their own legal costs.

EPC

An Energy Performance Certificate is available upon request.

VAT

All prices quoted are exclusive of, but may be subject to VAT at the prevailing rate.

VIEWING

Petty Chartered Surveyors

Imperial Chambers, Manchester Road

Burnley, BB11 1HH

Tel. 01282 456677

commercial@petty.co.uk

www.pettycommercial.co.uk

AUCTIONEERS COMMENTS

 

This property is for sale by the Modern Method of Auction which is not to be confused with traditional Auction. The Modern Method of Auction is a flexible buyer friendly method of purchase. We do not require the purchaser to exchange contracts immediately, but grant 28 days to achieve exchange of contracts from the date that the buyer’s solicitors is in receipt of the draft contacts and a further 28 days thereafter to complete.

 

Upon close of a successful auction or if the vendor accepts an offer during the auction, the buyer will be required to put down a non-refundable reservation fee of 3.5% subject to a minimum of £5,000 + VAT which secures the transaction and takes the property off the market. The buyer will be required to sign an Acknowledgement of Reservation form to confirm acceptance of terms prior to solicitors being instructed. Copies of the reservation form and all terms and conditions can be found in the legal pack which can be downloaded for free from www.agentauctionpage. co.uk.

 

Please note that the property is subject to an undisclosed reserve price which is generally no more than 10% in excess of the starting bid. Both the starting bid and reserve price can be subject to change. Terms and Conditions apply to the Modern Method of Auction, which is operated by the Lancashire Property Auction powered by “iam-sold”.

TO VIEW OR MAKE A BID – contact Katie Wilson or visit www.iam-sold.co.uk

 

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