Guide price
£250,000
Retail premises for saleHigher Market Street, Farnworth, Bolton BL4
Just added
About this property
Mixed-use investment opportunity
Ground floor commercial premises
Separate residential accommodation - sold with vacant possession
Commercial portion income producing until December 2027
Summary
Being sold via Secure Sale online bidding. Terms & Conditions apply.
An excellent investment opportunity comprising a mixed-use property consisting of a ground floor commercial premises together with a separate residential accommodation arranged over the rear of the ground floor and first floor.
Occupying a prominent position in the heart of Farnworth, the property benefits from a highly convenient and increasingly popular location currently undergoing significant regeneration and improvement works locally. The surrounding area offers a diverse mix of established businesses and residential properties, whilst being situated close to Farnworth town centre and providing excellent transport links.
The property is located on Higher Market Street, Farnworth, and is ideally situated for access to the regional motorway network via St Peter's Way. Farnworth railway station is also within easy reach, offering direct rail services to Salford, Manchester, Bolton and surrounding areas.
The commercial unit is currently let until December 2027 at a rent of 670 per calendar month (8,040 per annum) and is operated as a hair and beauty salon.
The residential accommodation is separately accessed and occupies the rear section of the ground floor together with the first floor accommodation. The residential accommodation comprises a communal kitchen/diner with shower room off together with four letting rooms, three of which benefit from en-suite facilities.
The rooms are to be sold with vacant possession and were previously let on a furnished basis inclusive of bills. Recent rental figures achieved were approximately 520 per calendar month for the en-suite rooms and 400 per calendar month for the non en-suite room, providing a potential gross annual income of approximately 23,520 from the residential accommodation and a combined gross annual income of approximately 31,560 per annum.
Description
A mixed-use property consisting of a ground floor commercial premises together with a separate residential accommodation arranged over the rear of the ground floor and first floor.
Location
Located in a prominent position in the heart of Farnworth, the property benefits from a highly convenient and increasingly popular location currently undergoing significant regeneration and improvement works locally.
Tenure
Title number: GM474592 - Freehold
Epc's
Rating D & C.
Additional Information
For further information please contact our office direct on , or alternatively via e-mail on . With regards to viewing the subject property, this is to be done strictly by appointment through Keith Pattinson Commercial department. Please contact us to arrange an internal inspection, or to register your interest.
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.
Being sold via Secure Sale online bidding. Terms & Conditions apply.
An excellent investment opportunity comprising a mixed-use property consisting of a ground floor commercial premises together with a separate residential accommodation arranged over the rear of the ground floor and first floor.
Occupying a prominent position in the heart of Farnworth, the property benefits from a highly convenient and increasingly popular location currently undergoing significant regeneration and improvement works locally. The surrounding area offers a diverse mix of established businesses and residential properties, whilst being situated close to Farnworth town centre and providing excellent transport links.
The property is located on Higher Market Street, Farnworth, and is ideally situated for access to the regional motorway network via St Peter's Way. Farnworth railway station is also within easy reach, offering direct rail services to Salford, Manchester, Bolton and surrounding areas.
The commercial unit is currently let until December 2027 at a rent of 670 per calendar month (8,040 per annum) and is operated as a hair and beauty salon.
The residential accommodation is separately accessed and occupies the rear section of the ground floor together with the first floor accommodation. The residential accommodation comprises a communal kitchen/diner with shower room off together with four letting rooms, three of which benefit from en-suite facilities.
The rooms are to be sold with vacant possession and were previously let on a furnished basis inclusive of bills. Recent rental figures achieved were approximately 520 per calendar month for the en-suite rooms and 400 per calendar month for the non en-suite room, providing a potential gross annual income of approximately 23,520 from the residential accommodation and a combined gross annual income of approximately 31,560 per annum.
Description
A mixed-use property consisting of a ground floor commercial premises together with a separate residential accommodation arranged over the rear of the ground floor and first floor.
Location
Located in a prominent position in the heart of Farnworth, the property benefits from a highly convenient and increasingly popular location currently undergoing significant regeneration and improvement works locally.
Tenure
Title number: GM474592 - Freehold
Epc's
Rating D & C.
Additional Information
For further information please contact our office direct on , or alternatively via e-mail on . With regards to viewing the subject property, this is to be done strictly by appointment through Keith Pattinson Commercial department. Please contact us to arrange an internal inspection, or to register your interest.
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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