41-47 Burnley Road, Burnley, Lancashire BB12 8BY

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Property Details

Location

Auction Details

Description

A substantial period investment property extending to approximately 552 Sq M (5,944 Sq Ft). The property has been refurbished and fitted out to a high standard and produces a combined income of £40,150 per annum.

Location

The property is situated in a prominent position at the junction of Burnley Road (A671), Darwen Street and Eccleshill Street, in the centre of Padiham. Burnley town centre is approximately 4 miles to the south east and Junction 8 of the M65 motorway is 2 miles to the south.

Accommodation

Description	Sq M	Sq Ft
43-45 Burnley Road Ground Floor (Sales) Basement (Treatment Rooms, W/C, Staff Area)	49.4 47.3 96.7	532 509 1,041
47 Burnley Road Ground Floor (Former Banking Hall)	94.2	1,014
41 Burnley Road First Floor (Offices)	92.7	998
Rear Offices Ground Floor, First Floor & Basement	118.5	1,276
Apartment Second Floor	150	1,615
Total	552.1	5,944

Outside

There is a small yard area to the rear.

Approx Site Area

Approximately 250 Sq M (299 Sq Yds).

Tenure

Unknown

Planning

Interested parties should consult direct with the Local Planning Authority: Burnley Borough Council, Town Hall, Manchester Road, Burnley, BB11 9SA. Telephone: 01282 425 011. Email: [email protected]

Tenancy

43-45 Burnley Road is let to Feathers Beauty by way of a four year lease from 11 December 2021 at a current rent of £11,375 per annum.

41 Burnley Road (first floor offices) is let from 19 November 2021 by way of a five year lease with provision for a rent review at the end of the third year, at an initial rent of £7,475 per annum. There is a tenant break option exercisable at the end of the third year.

47 Burnley Road (Former Banking Hall) is let to by way of a five year lease from
18 May 2022 at a rent of £9,600 per annum, with a rent review at the end of the third year.

The rear offices and basement is let to Atkinson Morley Limited by way of a periodic tenancy from 1 August 2015 at a current rent of £4,225 per annum.

The second floor apartment is let by way of an Assured Shorthold Tenancy agreement from July 2022 at a rent of £575 per 4 weeks (£7,474 per annum).

Costs

Details of the Buyer's Premium and any additional fees payable are contained within the legal documents.

General

1. All the information provided on our website is for indicative purposes only and interested parties should refer to the contents of the legal pack and rely upon their own due diligence as a prudent bidder.

2. PLEASE NOTE BIDDING COMMENCES ON TUESDAY 20TH SEPTEMBER AND CLOSES ON WEDNESDAY 21ST SEPTEMBER.

3. The property is entered in the 2017 Rating List with the following assessments:

41 Burnley Road: "Offices and Premises" - Rateable Value £3,850
43-45 Burnley Road: "Shop and Premises" - Rateable Value £5,500
47 Burnley Road: "Offices and Premises" - Rateable Value £6,200

The Rateable Value (RV) is not the amount payable.

4. Energy Performance Certificates:

Number 41 = C
Apartment 41 = C
Number 43 = D
Number 43-45 = C
Number 47 = E

Addendum

41 Burnley Road (first floor offices) - The lease start date has been updated from December 2021 to 19 November 2021. 43-45 Burnley Road - The lease term has been updated from 5 years to 4 years. 47 Burnley Road (Former Banking Hall) - The lease start date has been updated from June 2022 to 18 May 2022. Rear offices and basement - The basis of the tenancy has been updated from a 3 year lease to a periodic tenancy agreement. Second Floor Apartment - The rent has been updated from £6,900 per annum to £7,475 per annum.