Retail Investment Opportunity, 80-84, High Street, Rishton, BB1 4LA

The property comprises a two storey stone built retail property, set under a pitched roof. Internally the accommodation is divided to form a ground floor sales area with rear storage, staff and office accommodation. In addition there is a lean-to extension area which provides further storage space. The upper floors are included within the demise of the property however don't currently benefit from suitable access.
( Agency Pilot Software Ref: 544 )

Location

The property is prominently located fronting High Street close to its junction with Walmsley Street in the heart of Rishton. Rishton is a popular suburb in the Hyndburn district of Lancashire. The High Street is home to a number of national and local retailers, restaurants and bars.

Accommodation

Ground Floor: 1,416 sq ft

First Floor: 260 sq ft

Stores: 588 sq ft

Total: 2,264 sq ft

Terms

The property is entirely let to Use-It Computers Limited from 30th July 2018 until 29th July 2023 providing approximately 3.00 years to expiry. There is a tenant only option to determine the lease on 30th July 2021. The lease is drawn up on Full Repairing & Insuring terms. The annual passing rent equates to £10,000 per annum. We are instructed to seek offers in excess of £65,000 (SixtyFive Thousand Pounds) subject to contract and exclusive of VAT. A purchase at this level will reflect a Net Initial Yield of 15.11% assuming purchasers' costs of 1.80%.

EPC The property has an energy performance rating of 88 (Band D). A copy of the energy performance certificate is available upon request

VAT The property is elected for VAT.

Specification

• Prominent retail shop fronting the High Street in Rishton.
• Leased until July 2023 providing 3.00 years to expiry.
• Tenure is Leasehold.
• Seeking offers in excess of £65,000