Investment opportunity comprising retail unit, s/c flat and a separate terraced property
Rental income £17,426 per annum, spacious and versatile properties
Prominent main road position (A671), densely populated residential area
Potential to create additional flat to provide additional revenue, viewing recommended
Ref: 45964. Substantial investment opportunity comprising of a retail unit, 2 x self contained flat and a separate terraced property, prominent main road position, Burnley. Combined rental income £17,426 pa, spacious and versatile properties, potential to create an additional flat to provide additional revenue, viewing recommended.
This is an excellent opportunity to acquire a substantial investment opportunity, which is located in the popular Lancashire market town of Burnley.
The adjacent properties occupy a prominent and highly visible position on the main (A671) commuter route, within a densely populated, predominantly residential area all within easy reach of the town centre and the (M65) motorway.
The properties comprise of a mixture of lock up retail space together with two separate residential dwellings.
The ground floor unit operates as a licensed convenience store which is let out. The convenience store is held on a 9 year FRI lease which was granted in 2010 with 3 yearly rent reviews and currently on a rolling lease. The current rent is £9,600 per annum exclusive.
On the top floor of the property is a self contained 2 bedroom flat which is let via a short hold tenancy agreement generating a rental income of £4,440 per annum exclusive.
On the second floor of the property a self contained 1 bedroom flat which is let via a short hold tenancy agreement generating a rental income of £5,400 per annum exclusive.
Due to the size and configuration of the property there is potential to convert a storage space on the first floor of the property into an additional flat which would significantly increase the overall rental income, therefore generating a healthier return on the initial investment.
The neighbouring terraced dwelling is also let out via a short hold tenancy agreement for £3,386 per annum exclusive.
This is an excellent opportunity for an investor to acquire two substantial freehold properties generating an excellent rental income and viewing is highly recommended to avoid disappointment.
Summary. This is a rare opportunity to acquire a lucrative investment opportunity and a viewing is highly recommended to avoid disappointment.
Is accommodation included?: