Total Potential Income £18480 PA Yield 8.62%
Extensively Modernised Corner Property
Highly Populated Residential/Comm Area
EPC - Property 1 - B Property 2 - G
This is an excellent opportunity to purchase an investment property comprising a long-established and thriving launderette, together a second shop and two self-contained first floor flats. These were fully let at the time of our inspection except for the second shop which is being modernised for future letting. The freehold properties are located at the corner of Milnrow Road (A663) and Store Street and are in a highly populated, residential and commercial area towards the outskirts of the town and on the road linking Shaw with Newhey, Junction 21 on the M62 and Rochdale. The properties enjoy a potential annual income to include the letting of the second shop of £19,400 pa and an anticipated attractive yield of at least 8.62%.
The owners of the property have done much to improve the premises which comprise as follows:
No. 157 : Launderette- with main customer and machine area and an ironing room to the rear. The property includes an extensive basement with two rooms and a first floor WC with wash basin and a storeroom. This property is let on a ten year lease at £540 PCM.
No. 159. Open plan, split level main shop or office together with a second office with wash basin and WC. This property was in course of modernisation at the time of our inspection. This has an anticipated rental income of £400 PCM.
No.157A This is a two bedroom first floor flat with ground floor, road front access and comprises two bedrooms, living room, kitchen, bathroom with electric shower over the bath, WC and wash basin. The flat has double glazing and electric radiators. This is let on a twelve month AST agreement at £340 PCM.
No. 159A This is a one bedroom first floor flat which is accessed from a ground floor front entrance and has a living room, kitchen and bathroom with electric shower over the bath, WC and washbasin. This is let on a 12 month AST agreement at £340 PCM.
Please note that Blacks Brokers were unable to inspect the flats at the time of our visit and we have not examined any lease or title documentation.
Blacks Brokers consider that this property represents an excellent investment opportunity and our helpful staff will be pleased to arrange viewings and to provide any additional information required.Fixtures:
Blacks will be pleased to arrange for a schedule to be made available of any fixtures and fittings which will be included in the sale.
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Location Details: Shaw
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