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Darwen town centre former bank and bar up for auction


Written by: Will Thompson on 16th November 2022

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 Darwen town centre former bank and bar up for auction

A former bank on 15-19 Croft Street in Darwen town centre is going up for auction on December 6th with Pugh – sporting a guide price of £275,000.

The three-storey building at the corner of Croft Street and Market Street in Darwen is currently a community hub and two flats. It was formerly a bank and then the H20 bar.

Online bidding starts on December 6 and closes the following day.

The ground floor of the premises is currently the 'Meeting Places' community hub.

During the week it is open for community groups and the public to access workshops to gain new skills, hobbies or interests. People can also pop in for a chat and enjoy playing games and making user of the complimentary Wi-Fi.

The community hub on the ground floor/basement and two tenanted apartments on the other two top floors provide a combined annual rent of £38,320.

The property occupies a prominent corner position at the junction of Croft Street and Market Street in Darwen town centre. immediately opposite the Market Hall close to a number of professional retailers.

It has been refurbished to a high standard to comprise a community hub on the ground floor with two apartments on the first and second floors, each having one bedroom.

The community hub extends to approximately 4,374 square feet over ground floor and basement and is let by way of a six-year lease from October 2020 at a rent of £30,000 per annum.

Each of the flats is let by way of an assured shorthold tenancy agreement at a rent of £80 per week (£4,160 per annum).

Darwen West ward's Cllr Dave Smith said: "I hope that whoever buys it keeps the existing hub use.

"It is an important community and youth resource for the town."

You can find the full lot listing here: https://www.pugh-auctions.com/property/34764



Written by: Will Thompson on 16th November 2022

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About the Author

Will heads up the Partner Agent channel at Pugh’s and has a strong background in business development and channel management.