Smackwater Jacks, 4 Ormerod Street, Burnley, Lancashire, BB11 1EP

Guide Price

£320,000 plus

Additional Costs / Fees will apply

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Property Details

Location

Description

An opportunity to acquire a popular and well-known public house investment (established in 1977) located in Burnley town centre, sold subject to a 25-year lease from February 2020 with a current rent reserved of £43,581 per annum. The lease is subject to annual CPI rent increases and represents an opportunity to acquire an established investment providing strong investment growth potential. The property is arranged over basement, upper ground, first and second floors and provides three bar areas, toilets and storage facilities.

Location

The property is located on Ormerod Street, between Bull Street and Hargreaves Street, a short distance from St James Street and Charter Walk Shopping Centre, in Burnley town centre. Burnley Manchester Road Station is located less than 0.5 miles to the south and Junction 10 of the M65 motorway is approximately 1 mile to the west.

Accommodation

Basement/Lower Ground:	Bar, toilets
Upper Ground Floor:	Bar
First Floor:	Bar, toilets
Second Floor:	Office, storage

Planning

For any pre-application advice, interested parties should consult directly with the Local Planning Authority: Burnley Borough Council, Town Hall, Manchester Road, Burnley, BB11 9SA. Telephone: 01282 425 011. Email: [email protected]

Tenancy

The property is let by way of a 25-year lease from 3 February 2020 at a current passing rent of £43,581 per annum, subject to annual CPI increases. We understand there are no break clauses within the lease and that the rent is paid up to date.

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 26TH AUGUST AND CLOSES ON WEDNESDAY 27TH AUGUST.

3. Energy Performance Certificate = D

4. The property is entered in the 2023 Rating List as "Public House and Premises" with a Rateable Value of £19,150. The Rateable Value (RV) is not the amount payable.