Size: 7,685 Sq Ft (713.94 Sq M)
For Sale
Property Details
For Sale: £1,195,000 for the Freehold
Key Features
Ready made town centre investment with further Asset Management opportunities
Occupies a prominent corner position fronting both Cleveland Street and Chapel Street, within the main retail core in Chorley Town Centre
Situated within a popular mixed-use location
Walking distance from Chorley Bus & Train Stations
Held Freehold under Title Number LA761657
Nearby uses include retail, hardware store, office, opticians, pubs, bars, cinema, restaurants and cafes
Ample parking available nearby
Producing a Net Initial Yield of 8.12% from completion of Unit 5's lease
For Sale - £1,195,000
Description
The subject property itself comprises a substantial traditionally constructed, two storey, town centre retail property, set beneath a pitched and slated roof covering.
The property has been sub-divided in order to provide for 5 x self-contained retail units arranged across both ground and first floor levels, currently generating £83,777.38 per annum, rising to £102,777.38, upon completion of the lease in relation to Unit 5.
The units are all presently let by a range of occupiers, such as Derian House Children's Hospice Shops Ltd, Riley's Taproom and 2 x independent retailers, with an Agreement for Lease recently having exchanged in regards to Unit 5 (further details available on request).
The property benefits from a range of potential asset management opportunities, to increase the current income.
There is currently a service charge in place for the management of common external areas.
Location
The property occupies a prominent corner and accessible position upon Cleveland Street and Chapel Street, in the heart of Chorley's main retail core, located upon a pedestrianised section of Chapel Street within Chorley Town Centre, situated within a popular and mixed-use retail area.
Nearby occupiers include Barnardo's, Cancer Research, Specsavers, Clarks and a number of other independent retailers. The property is located within close proximity to Chorley Outdoor Market (every Tuesday and Saturday).