Guide price
£200,000
Office for saleNicholas Street, Burnley BB11
About this property
Large freehold property and car park
Development opportunity
Town centre location
Recently refurbished
Summary
17-19 Nicholas Street, Burnley is a large 3 storey feature building, located in the heart of Burnley town centre.
The property is freehold, and also includes a private freehold car park, making this a rare investment opportunity in the area, town centre car parks are a rare feature of property in the district.
Historically, the property has been used for commercial purposes, most recently and as a business centre. The property was fully refurbished in 2021 to a cost of 70,000, with upgrades including a full electrical rewire, cctv, fire doors, new windows throughout, carpets, kitchen and multiple bathrooms. The property also has a boardroom area, multiple fire exits, a fire escape, communal areas, and is a turnkey solution for office space.
Due to the location, Burnley town centre has become a popular area for change of use and demand for residential demand is extremely high. Previous plans were drawn up by the owner use as a HMO and apartments.
Potential Investments Returns;
- Office rental as a business centre; based upon 2024 figures the building was generating a gross annual return of 31,200.
- Office rental as a single let to one tenant; the property was tenanted for many years at a gross annual rent of 18,000.
- 9 Bedroom HMO; a change of use could see a gross annual income of 62,400.
A 2023 RICS survey placed a valuation of 265,000 on the building.
The property is not a listed building, unlike many of the properties in the area, and does not have the same restrictions as other buildings in the town centre; making this highly desirable for a change of use of the potential buyer desired.
Location...
Located on the corner of Nicholas Street, Burnley, at the heart of the town centre's business and residential district. The property is a 5 minute walk to Burnley Bus Station, 2 minutes to the high street, 8 minutes to Manchester Road train station, 10 minutes to Turf Moor football stadium, and 1 minute to amenities.
Accommodation...
A character, 3 storey building and car park. Currently presented as 7 office spaces, 1 large boardroom, 3 bathrooms, open plan communal kitchen, various communal spaces on each level, and storage areas.
Location
Located on the corner of Nicholas Street, Burnley, at the heart of the town centre's business and residential district. The property is a 5 minute walk to Burnley Bus Station, 2 minutes to the high street, 8 minutes to Manchester Road train station, 10 minutes to Turf Moor football stadium, and 1 minute to amenities
Accommodation
A character, 3 storey building and car park. Currently presented as 7 office spaces, 1 large boardroom, 3 bathrooms, open plan communal kitchen, various communal spaces on each level, and storage areas.
Tenure
Freehold, title number LA361224
Rateable Value
Please see voa for rateable values.
EPC
Rating E, full report available on request.
Additional Information
For further information please contact our office directly on , or alternatively via email on . With regards to viewing subject property, this is to be done strictly by appointment.
Auctioneers Additional Comments
Pattinson Auction are referred to as The Auctioneer. This auction lot is being sold by either conditional (Modern) or unconditional (Traditional) auction terms and overseen by The Auctioneer. The method of auction sale and the applicable terms and conditions are found on the lot page of this property on The Auctioneers website. The property is available to view strictly by appointment only via any Marketing Agent or The Auctioneer. Please be aware that any enquiry, bid or viewing of the subject property will require your details to be shared between any marketing agent and The Auctioneer so that matters can be dealt with effectively. The property is being sold via a transparent online auction. To submit a bid, all bidders must adhere to a verification of identity process in line with Anti Money Laundering procedures. Bids can be submitted at any time and from anywhere.
Auctioneers Additional Comments
The advertised price is commonly referred to as a Starting Bid or Guide Price and is accompanied by a Reserve Price. The Reserve Price is confidential to the seller and The Auctioneer and will typically be within a range above or below 10% of the Guide Price or Starting Bid. These prices are subject to change. An auction can be closed at any time, with The Auctioneer permitting the property (the lot) to be sold prior to the end of the auction. A Legal Pack associated with this property is available to view upon request and contains details relevant to the legal documentation, enabling all interested parties to make an informed decision prior to bidding. The Legal Pack will also outline the buyers obligations and sellers commitments. It is strongly advised that you seek the counsel of a solicitor prior to proceeding with any property and/or Land Title purchase.
Auctioneers Additional Comments
In order to secure the property and ensure commitment from the seller, upon exchange of contracts the successful bidder will be expected to pay a non-refundable deposit equivalent to 5% of the purchase price. The deposit will form part of the purchase price. A non-refundable reservation fee of up to 6% inc VAT (subject to a minimum fee which could be up to 7,200 inc VAT) is also payable upon agreement of sale. The Reservation Fee is in addition to the agreed purchase price, and consideration should be given by the purchaser to any Stamp Duty Land Tax liability associated with the overall purchase costs. Both the Marketing Agent and The Auctioneer may consider it necessary or beneficial to pass customer details to third-party service suppliers, from whom a referral fee may be received. There is no requirement or obligation to use any recommended suppliers or services.
17-19 Nicholas Street, Burnley is a large 3 storey feature building, located in the heart of Burnley town centre.
The property is freehold, and also includes a private freehold car park, making this a rare investment opportunity in the area, town centre car parks are a rare feature of property in the district.
Historically, the property has been used for commercial purposes, most recently and as a business centre. The property was fully refurbished in 2021 to a cost of 70,000, with upgrades including a full electrical rewire, cctv, fire doors, new windows throughout, carpets, kitchen and multiple bathrooms. The property also has a boardroom area, multiple fire exits, a fire escape, communal areas, and is a turnkey solution for office space.
Due to the location, Burnley town centre has become a popular area for change of use and demand for residential demand is extremely high. Previous plans were drawn up by the owner use as a HMO and apartments.
Potential Investments Returns;
- Office rental as a business centre; based upon 2024 figures the building was generating a gross annual return of 31,200.
- Office rental as a single let to one tenant; the property was tenanted for many years at a gross annual rent of 18,000.
- 9 Bedroom HMO; a change of use could see a gross annual income of 62,400.
A 2023 RICS survey placed a valuation of 265,000 on the building.
The property is not a listed building, unlike many of the properties in the area, and does not have the same restrictions as other buildings in the town centre; making this highly desirable for a change of use of the potential buyer desired.
Location...
Located on the corner of Nicholas Street, Burnley, at the heart of the town centre's business and residential district. The property is a 5 minute walk to Burnley Bus Station, 2 minutes to the high street, 8 minutes to Manchester Road train station, 10 minutes to Turf Moor football stadium, and 1 minute to amenities.
Accommodation...
A character, 3 storey building and car park. Currently presented as 7 office spaces, 1 large boardroom, 3 bathrooms, open plan communal kitchen, various communal spaces on each level, and storage areas.
Location
Located on the corner of Nicholas Street, Burnley, at the heart of the town centre's business and residential district. The property is a 5 minute walk to Burnley Bus Station, 2 minutes to the high street, 8 minutes to Manchester Road train station, 10 minutes to Turf Moor football stadium, and 1 minute to amenities
Accommodation
A character, 3 storey building and car park. Currently presented as 7 office spaces, 1 large boardroom, 3 bathrooms, open plan communal kitchen, various communal spaces on each level, and storage areas.
Tenure
Freehold, title number LA361224
Rateable Value
Please see voa for rateable values.
EPC
Rating E, full report available on request.
Additional Information
For further information please contact our office directly on , or alternatively via email on . With regards to viewing subject property, this is to be done strictly by appointment.
Auctioneers Additional Comments
Pattinson Auction are referred to as The Auctioneer. This auction lot is being sold by either conditional (Modern) or unconditional (Traditional) auction terms and overseen by The Auctioneer. The method of auction sale and the applicable terms and conditions are found on the lot page of this property on The Auctioneers website. The property is available to view strictly by appointment only via any Marketing Agent or The Auctioneer. Please be aware that any enquiry, bid or viewing of the subject property will require your details to be shared between any marketing agent and The Auctioneer so that matters can be dealt with effectively. The property is being sold via a transparent online auction. To submit a bid, all bidders must adhere to a verification of identity process in line with Anti Money Laundering procedures. Bids can be submitted at any time and from anywhere.
Auctioneers Additional Comments
The advertised price is commonly referred to as a Starting Bid or Guide Price and is accompanied by a Reserve Price. The Reserve Price is confidential to the seller and The Auctioneer and will typically be within a range above or below 10% of the Guide Price or Starting Bid. These prices are subject to change. An auction can be closed at any time, with The Auctioneer permitting the property (the lot) to be sold prior to the end of the auction. A Legal Pack associated with this property is available to view upon request and contains details relevant to the legal documentation, enabling all interested parties to make an informed decision prior to bidding. The Legal Pack will also outline the buyers obligations and sellers commitments. It is strongly advised that you seek the counsel of a solicitor prior to proceeding with any property and/or Land Title purchase.
Auctioneers Additional Comments
In order to secure the property and ensure commitment from the seller, upon exchange of contracts the successful bidder will be expected to pay a non-refundable deposit equivalent to 5% of the purchase price. The deposit will form part of the purchase price. A non-refundable reservation fee of up to 6% inc VAT (subject to a minimum fee which could be up to 7,200 inc VAT) is also payable upon agreement of sale. The Reservation Fee is in addition to the agreed purchase price, and consideration should be given by the purchaser to any Stamp Duty Land Tax liability associated with the overall purchase costs. Both the Marketing Agent and The Auctioneer may consider it necessary or beneficial to pass customer details to third-party service suppliers, from whom a referral fee may be received. There is no requirement or obligation to use any recommended suppliers or services.
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