Savills Property Auctions | 41 - 45 Warner Street, Accrington, Lancashire BB5 1HN

July 2021: Wednesday 07 July 2021 - 9:00am

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Key features

Investment Let at £35,240 PA
3 x Ground floor retail units. Tenants have been been in occupation since 2010 (No 43) and 2014 (No 41 & 45)
3 x Two Bedroom Flats and 1 x One bedroom Flat
1 x Storage unit - Planning permission to convert the storage unit into a 1 bedroom flat
Potential to improve the passing rent

Description

Click Below for Virtual Tour

A well maintained Freehold corner Parade of retail units and residential flats

The properties are 2 stories in nature comprising of 3 retail units occupying the ground floor fronting Warner Street with 4 Flats and 1 storage unit occupying part ground floor and 1st floor and accessed via Cross Street.

Warner Street is one of the most vibrant streets within Accrington town centre, boasting a good mix of high

quality retailers along with beauty salons and coffee shops.

The property has been in the same ownership since 2007

Additional information

Tenure

Part Freehold and Leasehold (999 years from 4th June 1827) Please refer to title plan in the legal documents.

Accommodation

41 Warner Street -Ground Floor - Retail unit occupied by photographers

43 Warner Street - Ground Floor - Retail unit occupied by Hairdressers

45 Warner Street - Ground floor - Retail units occupied by Beauticians

3A Cross Street - First Floor - 2 Bedrooms, Kitchen/Living Area, Shower Room/WC

3B Cross Street - First Floor- 1 Bedroom, Kitchen/Living Area, Shower Room/WC

3C Cross Street - Ground/First floor - 2 bedrooms, Kitchen/Living Area, Shower Room/WC

3E Cross Street - Ground Floor- 2 bedrooms, Kitchen/Living Area, Utility Room, Shower Room/WC

3D Cross Street - Ground Floor - Currently used as storage. Not internally inspected but believed to comprise of 2 Rooms

Tenancy

41 Warner Street - Let to Photographers for £4,680 PA on a 3 year lease from 9th August 2017 - Holding Over (There has been discussions to renew the lease with the existing tenant)

43 Warner Street - Let to Hairdressers for £5,200 PA on a 3 year lease from 1st July 2019

45 Warner Street - Let to a Beautician for £5,200 PA on a 3 year lease from 14th May 2021

3A Cross Street - Let on a AST for £4,800 PA commencing on the 8th November 2019 - Holding Over

3B Cross Street - Let on a AST for £4,200 PA commencing on the 27th September 2019 - Holding Over

3C Cross Street - Let on a AST for £5,100 PA commencing on the 18th December 2020 - Holding Over

3E Cross Street - Let on a AST for £4,500 PA commencing on the 7th February 2020 - Holding Over

3D Cross Street - Let on a Licence Agreement for £1,560 PA from the 9th August 2017

Rent

£35,240

Notes

Please note the property areas provided are approximate. The photos are for illustrative purposes only and may not reflect the exact boundary and interior of the site. Prospective purchasers must rely upon their own enquiries in this regard. This site has not been inspected by Savills

Contact

The properties are located on the corner of Warner Street and Cross Street.

Shops, restaurants and leisure facilities can be found directly on Warren Street and close by in Accrington Town Centre

Accrington Station is located 0.3 miles away (Approximate)

Transport

Accrington Station - Northern Rail services

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If no EPC rating appears please refer to the legal pack.

•Guide prices given are indications within 10% upwards or downwards of where the reserve price may be set at the time of going to print. Please note they are not an indication of the anticipated sale price or a valuation.

•The reserve price is the minimum price at which the property can be sold.

•Both the guide price and reserve price may be subject to change up to and including the day of the auction.

•For unsold properties after an auction an Available price may be listed. This is the price that the seller(s) are looking for post auction, subject to contract and no higher offers, and has no relation to the guide prices listed prior to the auction sale.

Please note that all prices listed, whether prior to or post auction, are subject to contract.

The Auctioneers and sellers accept no responsibility for any loss, cost or damage that a buyer may incur as a result of relying on any guide price. It is the buyer's responsibility to decide how much they should bid for any lot. Please check with us for regular updates as guide prices are subject to change prior to the auction.

The guide price does not include the buyer's fee charged by the auctioneer or VAT which may apply to the sale or other amounts the seller may charge. The seller's Special Conditions of Sale will state whether there are other seller's charges and whether the seller has elected to charge VAT on the sale price.

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