COVID-19 – Important Auction Information
For Sale By Auction | 13:00, 20 May 2021

16-18 Hargreaves Street, Burnley, Lancashire, BB11 1DD

*Guide | £385,000 (plus fees)

  • Mixed Use
  • Tenure: See Legal Pack

Call the team on 0800 050 1234 for more information

Auction Date

Thu 20/05/2021

Auction Time

13:00

Auction Venue

Online Auction Online Auction,

Mixed Use Investment Opportunity Arranged as 4 x Retail/Commercial Units & 4 Flats - Generating £40,104 Per Annum

The property comprises a prominent three-storey building situated in a corner position which provides 4x ground floor retail units and 4x residential flats on the floors above. 2 Victoria Street comprises a ground floor retail unit currently Let to a hairdressing salon at £433 pcm. 16-18a Hargreaves Street comprises a ground floor retail unit currently Let to a hairdressing salon at £346 pcm. 16-18b Hargreaves Street comprises a ground floor retail unit currently Let to a beauty salon at £520 pcm. 16-18c Hargreaves Street comprises a ground floor retail unit currently Let to a sports retailer at £433 pcm. Flat 1 comprises a two-bedroom flat currently Let on an AST at £500 pcm. Flat 2 comprises a two-bedroom flat currently Let on an AST at £500 pcm. Flat 3 comprises a studio flat Let on an AST at £350 pcm which includes council tax and electricity. Flat 4 comprises a studio flat Let on an AST at £260 pcm, this excludes council tax and electricity. Total Income: £40,104 per annum (£3,342 pcm) Tenancy & Tenure Please refer to legal pack for further information including leases. Accommodation We have taken the Net Internal Floor Areas from the VOA as follows: 2 Victoria St: 16.39 sq m (176 sq ft) 16-18a Hargreaves: 26.41 sq m (284 sq ft) 16-18b Hargreaves: 28.16 sq m (303 sq ft) 16-18c Hargreaves: 26.4 sq m (284 sq ft) Location The property is situated in a prominent corner position fronting Water Street and Hargreaves Street in Burnley town centre, close to local businesses, shops and approximately 0.4 miles to Burnley Central Railway Station Please refer to legal pack for additional fees and the Auction Information document for guidance prior to bidding.

Tenure

See Legal Pack

Local Authority

Burnley Borough Council

Additional Fees

Administration Charge - 2.4% inc VAT of the purchase price, subject to a minimum of £2500 inc VAT, payable on exchange of contracts.

Referral Fees – We offer referred services via 3rd party suppliers which we believe you may benefit from in aiding the primary service we provide. You are under no obligation to use these services, and you should consider your options before accepting any third parties' terms and conditions for which we are not responsible. On some completed transactions they pay referral fees to ourselves. These fees average £300 inc VAT.

Disbursements - Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.