BULL STREET BURNLEY INVESTMENT PROPERTY, BURNLEY, BB11 1DW

Quick Summary

Property ID
4836
Category:
Investment
Location:
Burnley

Property Files

Property Features

  • Central location within walking distance of city centre amenities
  • Excellently positioned
  • Good footfall
  • Prominent roadside location

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Property Description

PROPERTY INFORMATION

• Current gross income £31,220

• Prime town centre location with an excellent range of uses

• Long established tenants potential to increase the income

LOCATION

The property is located in the centre of Burnley and has frontages both to Bull Street and Ormerod Street. Other occupants in the vicinity include Yorkshire Bank, HSBC, the Burnley Express offices and a number of local Solicitors.

DESCRIPTION

A two storey stone built property with a pitched roof construction. The property has been divided to create four self contained retail/office units, each are totally independent with their own meters, with the exception of the water meter. Smackwater Jacks rent a Beer cellar/bottle store.

ACCOMMODATION

Jazz Man Grooves (hairdressers) – tenant in occupation for 15 years at £7,920 per annum with a review in August 2018.

Alfies (sandwich shop) – 3 year lease with a rent of £8,280 per annum with a review in August 2018.

Smack Water Jacks (beer cellar) – Lease from September 2006 expiring in 2026 at a rent of £2,800 per annum with a review in September 2016. .

Remedy (bar/nightclub) – current lease from 1st January 2014 for a three year term at a rent of £12,220. per annum with a review in January 2017 Total £31,220 plus potential to let number 4 Bull Street at £8,000 per annum

OUTGOINGS

The Landlord currently pays the buildings insurance at £2,833 per annum. The water/waste water charges for the period 1st January 2014 to 31st December 2014 amount to £860.00 per annum approximately and the Landlord bears this charge.

LEGAL COSTS

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

VAT

VAT is not charged on the rent..

VIEWING

Viewing strictly by appointment with Petty Chartered Surveyors.