10, Castlegate, BB7 1AZ

FOR SALE - £255,000

• Freehold double retail investment in Clitheroe town centre

• Currently producing income of £21,311 per annum

• Asset management & rental uplift potential

• Combined NIA - 1,445 sq. ft. / 135 sq. m.

Price: £255,000

Location

This double retail investment sits in the very heart of Clitheroe town centre at the top of the main retail high street. Surrounding retailers in the immediately vicinity include Boots, Costa Coffee and WHSmith to name a few.

The entrance to Clitheroe Castle grounds is directly outside the premises. The property also benefits from a high level of passing traffic and footfall.

Description

The property is a large, prominent and well maintained 3 storey building in Clitheroe town centre. The ground floor has been split to create 2 adjoining retail units with residential accommodation above.

The whole property is owned Freehold however the residential accommodation above has been sold off on long leasehold tenancies.

The retail units are completely self contained and 12 Castlegate also has the benefit of additional basement storage space.

Accommodation

The retail accomodation is arranged as follows:

10 Castlegate

Ground floor

315 sq. ft.

30 sq.m.

12 Castlegate

Ground floor

600 sq. ft.

56 sq.m.

Basement

530 sq. ft.

50 sq.m.

TOTAL

1,445 sq. ft.

136 sq.m.

Services

All mains services, with the exception of gas, are connected to the property. each tenant is responsible for the payment of their own utility bills.

Rating

Available on request.

Tenancy information

Number 10 Castlegate - Currently producing £8,300 per annum, let on 2 year FRI lease expiring May 2021.

Number 12 Castlegate - Currently producing £13,011 per annum, let on a 6 year FRI lease expiring 31st March 2021.

Copies of the leases are available on request.

Tenure

Freehold

Price

£255,000

Availability

Available immediately

Legal Costs

Each party to be responsible for their own legal costs.

Planning

Both shops benefit from Use Class A1 under the Town and Country Planning use classes order.

Viewing

Strictly through sole agents

Taylor Weaver

(James Taylor)

01254