for sale...shopping centre which is situated directly opposite. nearby retailers include marks &...
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sw.co.uk102 ST JAMES STREET, BURNLEY, LANCASHIRE, BB11 1NJ
FOR SALE
Freehold Retail Investment
Location
The property is situated on the corner of St James Street and Hammerton Street in the heart of Burnley’s mainshopping district.
St James Street forms one of the town’s main pedestrianised shopping precincts, along with Charter WalkShopping Centre which is situated directly opposite. Nearby retailers include Marks & Spencer, DW SportsFitness, Game and Santander.
Burnley is a large town in Lancashire with an estimated population of 90,000. It is located 21 miles north ofManchester and 20 miles east of Preston.
Description
The property comprises a two storey end terrace building, understood to date from 1991. The building is ofbrick and stone construction. The ground floor retail area has been partitioned to create a series of smalloffices / meeting rooms and provides a glazed return frontage onto St James Street and Hammerton Street.
The first floor provides a mixture of ancillary accommodation (staff room, WCs, stores) and a large room, in‘shell’ condition, which is presently used for basic storage purposes but has potential to be converted toprovide additional office or sales accommodation (subject to planning).
Business Rates
We understand that the property has a Rateable Value of £31,250 within the 2017 rating list.
Accommodation
102 ST JAMES STREET, BURNLEY, LANCASHIRE, BB11 1NJ
Description Approximate Net Internal Floor Area
sq m sq ft
GF Sales 97.51 1,050
GF Ancillary 10.32 111
FF Storage Accommodation 65.00 700
FF Ancillary 57.24 616
Total Floor Area: 230.07 2,477
102 ST JAMES STREET, BURNLEY, LANCASHIRE, BB11 1NJ
Tenure
Freehold – Land Registry title number LA938322.
Tenancy
The property is occupied by Skipton Building Society which is holding over on a lease which expiredin October 2019. We understand terms have been agreed with Skipton Building Society for a newfive year lease at an initial rent of £25,000 per annum which would commence simultaneously withthe sale of the property. A copy of the draft lease is available upon request.
Covenant
Skipton Building Society is the UK’s fourth largest building society, with £23 billion of assets and over1 million members. The group reported a Profit Before Tax of £188.2m in 2018.
Energy Performance
Rating D (84). A copy of the Energy Performance Certificate is available upon request.
Money Laundering
In accordance with Anti-Money Laundering Regulations, two forms of identification and confirmationof the source of funding will be required from the successful purchaser.
Asking Price
Offers are invited in the region of £325,000, reflecting a net initial yield of 7.43%.
VAT
We understand that VAT may be payable at the prevailing rate.
Further Information
A copy of the draft lease, Land Registry documents and the EPC are available on request.
Misrepresentation Act 1967: Messrs Sanderson Weatherall LLP for itself and for the vendor(s) or lessor(s) of this property whose agents they are, give notice that: 1) These
particulars do not constitute any part of an offer or contract; 2) None of the statements contained in these particulars as to the properties are to be relied on as statements of
representations of fact; 3) Any intending purchasers must satisfy themselves by inspection or otherwise as to the correctness of each of the statements contained in these particulars;
4) The vendor(s) or lessor(s) do not ake or give and neither Messrs Sanderson Weatherall LLP nor any person in their employment has any authority to make or give any
representation or warranty whatsoever in relation to this property; 5) None of the building’s services or service installations (whether these be the specific responsibility of the
freeholder, lessor or lessee) have been tested and are not warranted to be in working order. Finance Act 1989: Unless otherwise stated all prices and rents are quoted exclusive of
VAT. Consumer Protection from Unfair Trading Regulations 2008 and Business Protection from Misleading Marketing Regulations 2008; Every reasonable effort has been made by
Sanderson Weatherall to ensure accuracy and to check the facts contained in these particulars are complete. Interested parties are strongly advised to take appropriate steps to
verify by independent inspection or enquiry all information for themselves and to take appropriate professional advice.
Sanderson Weatherall LLP Registered in England company number OC 344 770 Registered Office 6th floor, Central Square, 29 Wellington Street, Leeds, LS1 4DL
sw.co.ukFebruary 2020
For further information or to arrange a viewing please contact the sole agents:
Peter Heron
0113 221 6140
Craig Watson
0113 221 6085
Sanderson Weatherall, 6th Floor, Central Square
29 Wellington Street, Leeds, LS1 4DL