Mixed Use for auction in Bolton

Description

A mixed-use investment opportunity comprising a ground floor commercial unit together with a self-contained first floor apartment, occupying a prominent position within the heart of Farnworth. The property is well located within an established area of mixed commercial and residential use, close to Farnworth town centre and conveniently placed for access to a wide range of amenities. The property also benefits from excellent transport links, with Farnworth Railway Station within easy reach and the motorway network readily accessible via St Peter’s Way.

At the time of writing, the ground floor shop is vacant and was most recently used as a salon. It is considered capable of achieving a rent in the region of £650 per calendar month (£7,800 per annum). The first floor apartment is understood to be let at £675 per calendar month (£8,100 per annum). The property therefore offers potential for a combined gross income of approximately £15,900 per annum once the commercial unit is re-let.

The ground floor commercial accommodation extends to approximately 614 sq ft and has an EPC rating of C. The accommodation briefly comprises a prominent retail/sales area, WC/washroom, hallway/work area, kitchen, and a storage area accessed from the rear yard.

The self-contained apartment extends to approximately 667 sq ft and has an EPC rating of D. The accommodation briefly comprises a living room, fitted kitchen, bathroom, and bedroom, together with a loft room accessed via a staircase from the lounge, currently arranged with a double bed. Externally, there is a shared rear yard, and the apartment is accessed via an external staircase to the first floor.

Tenure

Freehold

Planning

For any pre-application advice, interested parties should consult directly with the Local Planning Authority: Bolton Council, Development Management, Town Hall, Bolton, BL1 1RU. Telephone: 01204 336 000. Email: planning.control@bolton.gov.uk

Occupancy

Part Let Part Vacant

Costs

Auction Details

The sale of this property will take place on the stated date by way of Multi lot timed auction and is being sold under the Unconditional sale type.

Binding contracts will be exchanged at the point of sale.

All sales are subject to our Common Auction Conditions and Bidder Terms. Properties located in Scotland and Northern Ireland will be subject to applicable local laws.

Auction Deposit and Fees

The following deposits and non- refundable auctioneers fees apply:

• 10% deposit (subject to a minimum of £5,000)

• Buyer’s Fee of 2.4% of the purchase price (subject to a minimum of £2,400 inc. VAT)

There may be additional fees listed in the Special Conditions of Sale, which will be available to view within the Legal Pack. You must read the Legal Pack carefully before bidding.

Additional Information

For full details about our auction processes, please refer to the Bidder Terms which can be viewed on our home page.

This explains the types of auction and sale methods we offer, the bidding registration process, your payment obligations, and how to view the Legal Pack (and any applicable home report for residential Scottish properties).

Guide Price & Reserve Price

Each property sold is subject to a Reserve Price. The Reserve Price will be within + or - 10% of the Guide Price. The Guide Price is issued solely as a guide so that a buyer can consider whether or not to pursue their interest. A full definition can be found within the Buyers Terms.

General

Business Rates:
The property is entered in the 2023 Rating List as hairdressing salon and premises with a Rateable Value of £5,400. The Rateable Value (RV) is not the amount payable.

Council Tax:
The property is listed with a Council Tax assessment in Band A.