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Agent's details

Mill Hill Pets, 47 New Wellington Street

For sale: £90,000.00|250 Sq M|Other, General Retail, Other Property Types & Opportunities, Retail

Property details

FOR SALE£90,000.00
SIZE250 Sq M
ADDRESSMill Hill Pets, 47 New Wellington Street, Mill Hill, Blackburn, BB2 4DY
TYPEOther, General Retail, Other Property Types & Opportunities, Retail
TENUREInvestment Opportunity, For Sale Freehold
POSTED ON20th March 2023

Description

Key Points

  • LARGE COMMERCIAL, RETAIL MIXED USE, INVESTMENT PROPERTY FOR SALE
  • LARGE DOUBLE SHOP WITH FLAT(S) ABOVE - 200sq.m
  • CAN MAKE 2 FLATS ON FIRST FLOOR - INCREASE INESTMENT INCOME
  • GREAT OPPORTUNITY TO OPTIMISE THIS PROPERTY
  • LONG ESTABLISHED BUSINESS OPERATING ON GROUND FLOOR
  • Summary

    INVESTMENT PROPERTY FOR SALE * RETAIL MIXED USE * TWO SHOPS OPENED UP TO ONE * WITH FLAT(S) ABOVE * BUSY LOCATION*

    Description

    Ainsworth Lord Commercial is delighted to be offering for sale this Mixed Use/Retail Investment Opportunity in Mill Hill Blackburn.

    Trading as a well established pet shop with excellent reputation and strong following, the property is occupied by the owner who runs the profitable business together with a small team of staff.
    As he wishes to retire we are instructed to sell the property and the business either as one or in two parts.

    We are looking at the following 2 Options:

    Option 1.
    Sell the whole Property for £160k PLUS the business at £25k for a combined price of £185k + Fixtures & Fittings plus stock at value.

    Option2:
    Sell the property to an investor, keeping the the business in situ on a lease of £12k pa. The tenant of the ground floor business would only have use of the ground floor. This would mean the investor could make improvements to one or both of the former flats above the shops (with their own access), to generate an additional income of £5-6k pa per flat. bringing the total income for the property to £22-24k pa.


    Currently, the property comprises...

    On the ground floor:
    A double fronted/double shop namely 2 shops opened up into one by way of an opening through one of the internal walls. The shop is currently trading as a long-established Pet Shop with an excellent following and reputation. Our client is happy to sell this property with or without a tenant operating the business.

    On the first floor:
    We have separate former flats above each shop. The one on the left is used purely for storage, whilst the other on the right is still a former flat being used for other business purposes relating to the business on the ground floor. Both flats are in need of refurbishment if they are to be brought back into use and rented out on sensible rents. The rent achievable is directly related to the standard of finish. We believe that each flat with separate accesses will rent for approx. £500pcm.



    We believe this is an attractive investment opportunity to deliver and excellent return.

    If you are interested in either of the options above please contact our office today so we can enter discussions to get a deal done!


    ALL VIEWINGS ARE TO BE ARRANGED THROUGH AINSWORTH LORD ESTATES AND ARE STRICTLY BY APPOINTMENT ONLY.
    OR...
    WHY NOT TAKE A REAL LOOK AROUND THE BUILDING WITHOUR MATERPORT VIRTUAL TOUR RIGHT NOW. IT'S VERY IMPRESSIVE AND THE MEASUREMENTS ARE ACCURATE TO WITHIN 1%

    Disclaimer -
    Unless stated otherwise, these details may be in a draft format subject to approval by the property's owners. Your attention is drawn to the fact that we have been unable to confirm whether certain items included with this property are in full working order.

    Any prospective purchaser must satisfy themselves as to the condition of any particular item and no employee of Ainsworth Lord Estates has the authority to make any guarantees in any regard. The dimensions stated have been measured electronically and as such may have a margin of error, nor should they be relied upon for the purchase or placement of furnishings, floor coverings etc. Details provided within these property particulars are subject to potential errors, but have been approved by the vendor(s) and in any event, errors and omissions are excepted.

    These property details do not in any way, constitute any part of an offer or contract, nor should they be relied upon solely or as a statement of fact. In the event of any structural changes or developments to the property, any prospective purchaser should satisfy themselves that all appropriate approvals from Planning, Building Control etc, have been obtained and complied with.

    Viewings

    All viewings to be arranged through Ainsworth Lord Estates.

    Location

    Located in the center of Mill Hill

    Location

    marker
    Location: Mill Hill Pets, 47 New Wellington Street, Mill Hill, Blackburn, BB2 4DY

    Mill Hill (Lancashire) (0.4 miles)

    Cherry Tree (0.6 miles)

    Blackburn (1.3 miles)

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