Property Information
Address:
New Hall Hey Road, Rossendale, Lancashire
, BB4 6HH
, Lancashire
, United Kingdom
Price: Property no longer available.
Size: 2 sq ft
Primary Category: Commercial Property
All Categories:
Property Ref/Movehut: MH644453
Property Ref/Agent: 107875
*Please use the agent ref when calling the agent directly.
Property description
Multi-let, mixed use investment opportunity located on the edge of Rawtenstall town centre, next to New Hall Hey Retail Park. * Large site extending to 2.41 acres with 2 principal buildings and 130 car parking spaces. Station House comprises ground floor, self-contained restaurant premises with multi-let offices above, extending to 6,766 sq. ft. Orient One is a former Kwik Save supermarket which is currently vacant and extending to 20,376 sq. ft. with Business Centre above extending to 3,373 sq. ft. (NIA). * The property is currently let as follows:Station House is let to Village Stores (Helmshore) Limited with 9.5 years unexpired at £110,000 p.a. Orient One (offices) are multi-let producing a net income of c. £12,000. Orient One (retail) is currently vacant and has an ERV in the region of £150,000 per annum. In total the property is producing a net income of £122,000 with the opportunity of increasing the income to £272,000 with the letting of the Orient One (Retail) unit. * The property offers the opportunity of re-letting Orient One (Retail) as a whole, or in a number of units and will suit various uses, subject to planning. * Seeking offers in the region of £2,500,000 (Two Million, Five Hundred Thousand Pounds) * A purchase at this level reflects a Net Initial Yield of 4.89%, with a reversionary yield of 10.97% * A purchase at this level reflects a low capital value of £82 per sq. ft.
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