Commercial Property for sale in Market Street, Westhoughton, BL5 3BD

Commercial Property - £350,000

Market Street, Westhoughton, BL5 3BD

First listed on: 01st August 2019

Nearest stations: Westhoughton (0.5 mi)Daisy Hill (0.6 mi)Hag Fold (1.5 mi)Hindley (2.2 mi)Horwich Parkway (2.2 mi)

Interested in this property? Call See phone number 01942 818033

Property Features

  • Located in the prime shopping area of Market Street
  • Investment For Sale
  • Excellent Location
  • Close to Good Motorway Transport Links

Property Description

Investment For Sale - The Property is situated in the prime shopping area of Market Street, Westhoughton. There is a large free car park within walking distance to the premises.

The property is currently tenanted with First Managerial Ltd who occupy the ground floor as a post office and also one office on the first floor. The tenant has taken out a 20 year lease from September 2015 and currently pay a yearly rent of 15,860, with a rent review every 3 years upward only to the Market Rent. In effect F.R.I. 


The First Floor is occupied by a beauty salon who have a lease for 5 years from July 2018 with a yearly rent of 6,600, with a rent review on the 3rd anniversary. 

The ground floor Retail Area comprises: Retail Zone A - 57.85m2 (622.70sq ft.) Retail Zone B - 38.33m2 (412.58sq ft.) 

The First floor provides 5 offices with a minimum of area of 12.2m2 (131.32sq ft.) and a maximum of 20.1m2 (217.43sq ft.) totalling 78.8m2 (848.20sq ft.) 

 

Proposition

Our client is seeking an offer in the region of 350,000.00, equating to a gross initial yield of 6.42% of this price. 

 

Rateable value

Rateable value as of April 2017 is 15,250 for the ground floor, rates payable 2019/2020 7381.00 using small business rates relief 7487.75 using small business rates multiplier 49.1p. Rateable value as of April 2017 is 6300 for the 1st floor, rates payable 2019/2020 3093.33 (using small business rates multiplier 49.1p)

 

EPC

Available upon request

 

VAT

Unless otherwise stated all figures are exclusive of Value Added Tax, any prospective purchasers should satisfy themselves of any liability to pay VAT on any transaction. 

 

Legal costs

Each party is to pay their own costs.

 

Investment For Sale - The Property is situated in the prime shopping area of Market Street, Westhoughton. There is a large free car park within walking distance to the premises.

The property is currently tenanted with First Managerial Ltd who occupy the ground floor as a post office and also one office on the first floor. The tenant has taken out a 20 year lease from September 2015 and currently pay a yearly rent of 15,860, with a rent review every 3 years upward only to the Market Rent. In effect F.R.I. 


The First Floor is occupied by a beauty salon who have a lease for 5 years from July 2018 with a yearly rent of 6,600, with a rent review on the 3rd anniversary. 

The ground floor Retail Area comprises: Retail Zone A - 57.85m2 (622.70sq ft.) Retail Zone B - 38.33m2 (412.58sq ft.) 

The First floor provides 5 offices with a minimum of area of 12.2m2 (131.32sq ft.) and a maximum of 20.1m2 (217.43sq ft.) totalling 78.8m2 (848.20sq ft.) 

 

Proposition

Our client is seeking an offer in the region of 350,000.00, equating to a gross initial yield of 6.42% of this price. 

 

Rateable value

Rateable value as of April 2017 is 15,250 for the ground floor, rates payable 2019/2020 7381.00 using small business rates relief 7487.75 using small business rates multiplier 49.1p. Rateable value as of April 2017 is 6300 for the 1st floor, rates payable 2019/2020 3093.33 (using small business rates multiplier 49.1p)

 

EPC

Available upon request

 

VAT

Unless otherwise stated all figures are exclusive of Value Added Tax, any prospective purchasers should satisfy themselves of any liability to pay VAT on any transaction. 

 

Legal costs

Each party is to pay their own costs.

 

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Price History

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Date History Details
02/08/2019 Property listed at £350,000

Disclaimer

Disclaimer Property reference A528614CFF1_177165_1. Details are provided and maintained by Adore Properties Ltd. Nethouseprices.com makes no warranty as to the accuracy or completeness of aforementioned details.

This property is marketed by

Direct House

87 Church Street

Bolton

BL5 3RZ

Telephone: See phone number 01942 818033

Website: Go to Agent Website

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Disclaimer

Disclaimer Property reference A528614CFF1_177165_1. Details are provided and maintained by Adore Properties Ltd. Nethouseprices.com makes no warranty as to the accuracy or completeness of aforementioned details.

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This property is marketed by

Direct House

87 Church Street

Bolton

BL5 3RZ

Telephone: See phone number 01942 818033

Website: Go to Agent Website

Arrange Viewing Arrange Viewing with Agent Check Affordability Check Affordability

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