Chartered Surveyors, Property Consultants, Valuers & Estate Agents Peter E Gilkes & Company

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Peter E Gilkes & Company

44 Market Street
Chorley
Lancashire
PR7 2SE

T 01257 266999
F 01257 264256

E Office/Enquiries

www.peteregilkes.co.uk

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FOR SALE C1032 - Investment 27a, 29 & 31 Market Street, Chorley, PR7 2SY


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PRICE
£550,000
UNDER OFFER

Property investment

3 occupied ground floor retail units

5 occupied one-bedroom flats

Flats 1, 2, 3, 4 & 5
Cannon Street
Chorley
PR7 1BJ

Total rental income £52,380 per annum

 

Description

Property investment with the building constructed circa 1990's providing three ground floor retail units and five one bedroom first and second floor flats. 

Location

Situated within Chorley Town Centre the location has benefited from the increased availability of short-term on-street car parking with a public pay and display car park off High Street. 

Accommodation & Tenure

(all sizes are approx) 

27a Market Street, Chorley, PR7 2SY 

Ground Floor Retail Unit
16.3 sq m (176 sq ft). 

First Floor
16.3 sq m (176 sq ft) 

Basement
11.1 sq m (120 sq ft) 

Occupied under a Lease commencing 18th August 2021 for a term of six years with a Tenant only break clause and rent review on the 3rd anniversary at a rental of £9,000 pa. 

29 Market Street, Chorley, PR7 2SY 

Ground Floor Retail Unit
65.2 sq m (701 sq ft) plus kitchen 2.6 sq m (28 sq ft) 

Occupied by Chorley Credit Union under a Lease commencing 27th February 2017 expiring February 2023 at a rental of £12,500 per annum. 

31 Market Street, Chorley, PR7 2SY 

Ground Floor Retail Unit 
31 sq m (333 sq ft) NIA. 

Basement 
15 sq m (162 sq ft). 

Occupied by Bowens Pies under a Lease commencing 15th October 2020 for a term of five years at a rental of £10,000 per annum. 

5 Cannon Street, Chorley, PR7 1BJ 

Self-contained, one-bedroom apartments situated within the Town Centre accessed from Cannon Street within a few minutes walking distance of train and bus stations, shops, local banks and other amenities. 

Flat entrance door from Cannon Street 

Flat 1 48 sq m (516 sq ft). 

Occupied with effect from February 2014 at a rental of £325 per month. 

Flat 2 35 sq m (376 sq ft) 

Occupied with effect from May 2016 at £350 per month. 

Flat 3 42 sq m (452 sq ft) 

Occupied with effect from October 2020 at £350 per month. 

Flat 4 48 sq m (516 sq ft) 

Occupied with effect from August 2020 at £350 per month. 

Flat 5 48 sq m (516 sq ft) 

Occupied with effect from May 2013 at £365 per month. 

Assessment

According to the Valuation Office website 27A Market Street is described as 'Shop and Premises' with a Rateable Value of £5,400. 29 Market Street is described as 'Office and Premises' with a Rateable Value of £9,300. 31 Market Street is described as 'Shop and Premises' with a Rateable Value of £11,000. We understand that all the flats are within Band A for Council Tax purposes. 

Services 

Separate electricity and water supplies are laid on with drainage to main sewer. 

Energy Rating

27A Market Street has an Energy Rating within Band D valid until 16th June 2026. 29 Market Street has an Energy Rating within Band E valid until 13th May 2023 and 31 Market Street has an Energy Rating within Band D valid until 22nd July 2030. All the first floor flats have separate Energy Performance Certificates within Band C valid until 12th July 2031. 

VAT

Payable at the appropriate rate. 

To View

Strictly by appointment with Peter E Gilkes & Company and with whom all negotiations should be conducted. 

Note

All services throughout the property are untested. Interested parties must satisfy themselves as to the condition of the central heating system, fitted fires, and other appliances and fittings where applicable.